Bitcoin $57K Support Level Crucial for 2024 Bull Rally, Says Analyst

Quick Summary:

Bitcoin’s $57K support level is emerging as a pivotal foundation for the 2024 bull rally, according to renowned analyst Burak Kesmeci, a contributor to CryptoQuant.

Positive regulatory developments, such as the approval of spot Bitcoin ETFs, have a direct impact on Bitcoin’s market stability and investor confidence.

With a steady influx of funds from ETFs, Bitcoin can better withstand market fluctuations, as the consistent demand helps maintain its price above critical support levels.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaJapanUnited States

Topics: Crypto News BITCOIN

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 05:02:15 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 2000 words

Reading Time: 12 minutes read

Sentences: 103 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 23098605

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 28 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 13 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #121

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