{"id":25699,"date":"2023-11-27T11:04:18","date_gmt":"2023-11-27T11:04:18","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/btc-price-eyes-40k-amid-record-hash-rate-5-things-to-know-in-bitcoin-this-week\/"},"modified":"2023-11-27T11:04:21","modified_gmt":"2023-11-27T11:04:21","slug":"btc-price-eyes-40k-amid-record-hash-rate-5-things-to-know-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/btc-price-eyes-40k-amid-record-hash-rate-5-things-to-know-in-bitcoin-this-week\/","title":{"rendered":"BTC price eyes $40K amid record hash rate \u2014 5 things to know in Bitcoin this week"},"content":{"rendered":"
Bitcoin (BTC) starts a new week keeping traders guessing near its highest levels in 18 months \u2014 what\u2019s next?<\/p>\n
BTC price action has held higher after spiking above $38,000 last week, but since then, a testing “micro-range” has left bulls and bears locked in battle.<\/p>\n
Whether a deeper retracement will come or a trip to $40,000 will leave naysayers behind is now the key short-term question for market participants.<\/p>\n
Coming up over the next few days are various potential catalysts to help effect trend emergence for Bitcoin, while underneath, there are mounting signs that the market is due a boost.<\/p>\n
Volatility is set to come at the hands of the monthly close later on, but before then, a host of macroeconomic events has the ability to inject some surprise price action.<\/p>\n
Cointelegraph takes a look at these issues and more in the weekly rundown of Bitcoin price volatility triggers for the week ahead.<\/p>\n
The monthly close forms the key diary date for day traders this week, with Bitcoin at a crossroads.<\/p>\n
As Cointelegraph reported, untested liquidity levels to the downside and the lure of $40,000 to the upside \u2014 this surrounded by resistance \u2014 makes for a stubborn daily trading range.<\/p>\n
Neither bulls nor bears have been able to dislodge an increasingly narrow corridor for BTC\/USD, and even new higher highs on daily teimframes have been few and short lived.<\/p>\n
At the latest weekly close, a timely drop saw bids beginning to be filled, with Bitcoin dropping to lows of $37,100 before recovering, data from Cointelegraph Markets Pro and TradingView\u00a0shows.<\/p>\n