After Taproot went live, Bitcoin’s weekly closing price remained high


Bitcoin (Bitcoin) After successfully activating the Taproot soft fork, it traded above the key area to the weekly closing price on November 13th.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

What ETF rejected?

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD remained above 64,000 USD at 10 AM UTC on Sunday.

Due to the role of U.S. regulators, the currency pair rose later on Saturday after briefly dropping below $63,000 Refuse What is the first spot exchange traded fund (ETF).

However, Bitcoin seemed to be indifferent to this move and then resumed its form, seeing a local high of $65,350 on Bitstamp before the consolidation.

Sunday is not about regretting the news of the ETF, but about positive moves about Bitcoin, and market participants celebrated Launch of Taproot.

The biggest upgrade to the Bitcoin protocol since 2017, Taproot provides many benefits that affect everything from security to the efficiency of the Lightning Network. It was first proposed by developer Greg Maxwell seven years ago and has finally become a reality.

“The real job will be to build a wallet/protocol based on it to take advantage of it,” Bitcoin Core developer Pieter Wuille Said As part of Sunday’s comments.

“I am glad to see where this will take us.”

As Cointelegraph Report, The soft fork has always preceded the period of bullish BTC price.

Can Bitcoin “save” the weekly closing price?

At the same time, Sunday’s weekly closing price poses a challenge for bulls seeking to completely break the six-month resistance level.

related: 11/12 Price analysis: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, SHIB, LUNA

Since Bitcoin’s price trend on Sunday is relatively weak and has rebounded on Monday in recent weeks, the market has been in the dark towards the end of the weekend.

“Look for the price to stay the same until April, which is a higher low,” trader Pentoshi Add to Analyze the daily schedule.

“The range we don’t want to return to is the range we just came to.”

BTC/USD 1-week candlestick chart shows the range.Source: Pentoshi/Twitter

“Moonvember” still holds Increasingly controversial The target price at the end of the month is close to US$100,000.