Bitcoin (BTC) traded above a key zone into the weekly shut on Nov. 13 after the profitable activation of the Taproot comfortable fork.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

What ETF rejection?

Information from Cointelegraph Markets Pro and TradingView confirmed BTC/USD holding above $64,000 at 10 am UTC Sunday.

The pair had gained within the latter a part of Saturday after briefly appearing beneath $63,000 due to U.S. regulators rejecting what would have been the primary spot-based exchange-traded fund (ETF).

Seemingly unfazed by the transfer, nonetheless, Bitcoin then returned to type, seeing native highs of $65,350 on Bitstamp earlier than consolidating.

Removed from lamenting the ETF information, Sunday was all about optimistic steps for Bitcoin, with market contributors celebrating Taproot’s launch.

The largest improve to the Bitcoin protocol since 2017, Taproot supplies a bunch of advantages impacting every little thing from safety to Lightning Community effectivity. It was first proposed seven years in the past by developer Greg Maxwell and has now lastly grow to be actuality.

“The actual work can be in constructing wallets/protocols that construct on high of it to utilize its benefits,” Bitcoin core developer Pieter Wuille said as a part of feedback Sunday.

“I am very excited to see the place that takes us.”

As Cointelegraph reported, comfortable forks have traditionally preceded bullish BTC value intervals.

Can Bitcoin “save” the weekly shut?

Sunday’s weekly shut in the meantime units up a problem for bulls searching for a clear break above a six-month resistance stage.

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

With Bitcoin characteristically placing in weaker value strikes on Sundays and recovering on Mondays in latest weeks, the market stayed at nighttime because the weekend got here to a detailed.

“In search of value to carry prev ath from April and this to be the next low,” dealer Pentoshi added analyzing each day timeframes.

“The vary we do not wish to return into is the one we simply got here from.”

BTC/USD 1-week candle chart exhibiting vary. Supply: Pentoshi/ Twitter

“Moonvember” nonetheless holds an increasingly controversial end-of-month value goal of virtually $100,000.