Bitcoin Price Surpasses $38,000: What’s Next for BTC?

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• In the world of cryptocurrencies, Bitcoin and Ethereum have recently garnered significant attention among crypto market traders and investors.
• Ethereum, like Bitcoin, is closely monitored by traders and investors as it has recently recorded significant developments.
• Michael Van De Poppe noted that the slow rise of the Bitcoin price above $38,000 is a sign that it is moving towards $40,000.

Bitcoin price is trying to gain strength above $38,000: Will $40,000 be the next target for Bitcoin? Current data!

Bitcoin Price Surges Above $38,000

In the world of cryptocurrencies, Bitcoin and Ethereum have recently garnered significant attention among crypto market traders and investors because both tokens have experienced an extraordinary price increase. According to recent market data, Bitcoin has experienced tremendous increases in its price, briefly surpassing the eagerly awaited level of $38,000 that traders have been anticipating for the last few days.

Similarly, the Ethereum token has achieved significant gains in the last few days, surpassing the $2,100 level. Ethereum, like Bitcoin, is closely monitored by traders and investors as it has recently recorded significant developments. The price increase in Bitcoin seems to be in line with recent congestion on the Bitcoin network and the upcoming halving date. Additionally, discussions revolving around the approval of a Bitcoin spot ETF are seen to increase market sensitivity and contribute to additional gains in the digital asset sector.

As of the writing of this article, the Bitcoin price is trading at $37,850, experiencing a small increase of 1.45% in the last 24 hours. Additionally, the token has shown a significant increase of 4.10% in the past week and a 10% increase in the last month. Today, the BTC price briefly exceeded $38,000 before falling again, creating excitement in the broader crypto markets.

According to Michael Van De Poppe, a prominent crypto market analyst, the slow rise of the Bitcoin price above $38,000 is a sign that it is moving towards $40,000.

Ethereum Price Report

As of the writing of this article, the ETH price has also experienced a small increase of 2.31% in the last 24 hours, trading at $2,104. Additionally, the token has seen a significant increase of 7.33% in the last seven days and a 13.72% increase in the last month. Moreover, Maarten Regterschot, a crypto market observer and analyst contributing to CryptoQuant, shared a systematic buying trend in Ethereum.

He presented a chart indicating that one or more investors participated in Time Weighted Average Price (TWAP) buying in Ethereum futures. In addition, comments from another analyst intrigued crypto market enthusiasts. According to Ali charts, with Ethereum breaking through the critical resistance range of $1,982 to $2,044, 1.67 million wallets purchased 38.7 million ETH. Interestingly, with minimal resistance on its way and strong support below, staying above this demand zone could position ETH to reach new annual highs.