Bitcoin Price Prediction as $35,000 Resistance is Surpassed – When is the Next Leg Up?

Bitcoin Price Prediction as $35,000 Resistance is Surpassed – When is the Next Leg Up?

6 November 2023

By Arslan Butt | @arslan-butt

has continued its upward trend, bouncing back above the $35,000 mark early on Monday following a brief dip linked to legal issues involving FTX founder Sam Bankman-Fried. The overall market sentiment, gauged by the Fear & Greed Index, currently stands at 73, indicating a state of “greed.”

Another contributing factor could be the United States reporting the addition of 150,000 jobs in October, which fell short of the anticipated 180,000 and marked a decline from the 297,000 jobs added in September. Furthermore, the unemployment rate increased to 3.9 percent, surpassing the expected 3.8 percent.

Positive Sentiment and Bitcoin Surge: Signs of Optimism in the Crypto Market

The global cryptocurrency market sentiment has improved, with the Crypto Fear and Greed Index rising four points to reach a score of 74 out of 100. This increase suggests that investors are more optimistic about the market. While some speculate that the recent price surge is short-lived, market experts see signs of sustained interest driving the ongoing uptrend.