Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Bitcoin is back on the rise today above $38,000 as markets try to forget the negative sentiment

Today's Cryptocurrenices analysis on behalf of Samer Hasn Market Analyst and part of the Research Team at


November 29, 2023 ( Newswire) This morning, Bitcoin was able to regain the level of $38,100 after reaching $38,300 yesterday before falling slightly. Ethereum is also still trying to maintain levels above $2050. As for Solana, it reached the highest levels this week with gains of about 2% today, while reaching slightly below $60.

These rises yesterday and today came with what appears to be an attempt by the markets to close the chapter of the legal conflict that Binance entered into, which led to spreading a state of weak confidence and regulatory concerns that threaten the future of the sector, after the removal of CEO and founder Changpeng Zhao (CZ).

Turning the page on Binance will not only involve putting aside CZ, but it may involve making the market more committed and transparent, which may create an atmosphere of confidence in this technology, whether among participants, investors, and even regulators and legislators.

This is what many insiders and knowledgeable people in this sector spoke about, most recently the CEO of the Coinbase, Brian Armstrong, who in turn spoke about the presence of many "bad actors" in the sector and that the legal action against Binance has led to close that chapter in the history of crypto.

These events were eventually reflected in further rises in crypto prices, which in turn yesterday led to the launch of the largest liquidation of short positions in about a week. According to data provided by CoinGlass, about $69 million were liquidated, with $26 million for Bitcoin alone, from positions that bet on falling prices.

Recovering sentiment and renewed focus have led to the potential launch of Bitcoin spot funds, which could happen during the first half of next year. Or hope for that, which is what the markets are counting on in reality so far, in the absence of any confirmation of the inevitability of SEC approval.

These sentiments and hopes for the launch of spot Bitcoin funds were also reflected in more noticeable flows into investment products related to cryptocurrencies, according to data provided by CoinShares at the beginning of this week.

Net inflows of more than $346 million were recorded last week, of which Bitcoin acquired $311 million. Ethereum, too, which is still trying to exit the current year with a positive net flow, recorded $33.5 million in net flows and reduced the net outflows since the beginning of the year to $21 million.

More Info:

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

News and Research for Bitcoin, Blockchain, Digital Currency Stocks and ICO's

Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories

Buy a crypto guest post on