{"id":87750,"date":"2023-12-01T14:24:05","date_gmt":"2023-12-01T12:24:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87750"},"modified":"2025-09-13T13:47:56","modified_gmt":"2025-09-13T10:47:56","slug":"bitcoin-price-holds-above-38500","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-holds-above-38500\/","title":{"rendered":"Bitcoin price holds above $38,500"},"content":{"rendered":"<p>On December 1, Bitcoin hit a yearly high, briefly topping $38,800. In the last 24 hours the asset rose 2.3%, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/p>\n<p>At the time of writing, Bitcoin hovered above the $38,500 level. The rise in quotes was accompanied by higher trading volume.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/McpLBiY1fSpTWK8Azoy_LAiynt5lgJHfB_SY5cDWwRrJauixdroPhR-lfjZBVY0gkckpVJ81Xn4hIfYx0cX6-sqcVxqxwZgcv_sBUkLSzWrxDBd73VF0Il7wMQ1yua4HOdqXlpWLunypWBbiF38TDY8\" alt=\"Bitcoin price holds above $38,500\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on the Binance exchange. Data: TradingView.<\/figcaption><\/figure>\n<p>Traditionally, after the flagship leads, assets from the top-10 moved into the \u201cgreen zone.\u201d The market capitalization stands at $1.5 trillion, Bitcoin&#8217;s dominance index at 49.7%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/74jkwwBS-9iJLBbnFU1kQDexs8YAug93hZZJRR-grbOoVhDhAkQBJnOMAQ5uwZ7Uxm392NY6G_PzsdQN4EKX4zHX8YLiyVryZYlVQPEXJhoUNZ9Um90Y1Q_fbZqER55oQ4bUu7xHHuZ4UoQ0lucNBRk\" alt=\"Bitcoin price holds above $38,500\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>By the end of November, Bitcoin rose 8.8%, the second-largest cryptocurrency rose 13%.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/34518\" data-width=\"100%\"><\/script><\/p>\n<p>Analysts at Deribit noted that the breakout and hold above $38,000 depends on approval by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> of a spot Bitcoin-<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>. The regulator&#8217;s suit against Coinbase adds uncertainty, the firm said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Caution in current Bitcoin rally! Surge to 38,000 relies on SEC&#8217;s ETF approval.<\/p>\n<p>SEC&#8217;s suit against Coinbase adds uncertainty. Historical bull markets tied to unique Bitcoin acquisition methods.<\/p>\n<p>ETF approval may open new fiat routes.<\/p>\n<p>Read more from the writer \u2b07\u2026<\/p>\n<p>\u2014 Deribit Insights (@DeribitInsights) <a href=\"https:\/\/twitter.com\/DeribitInsights\/status\/1730541520242237639?ref_src=twsrc%5Etfw\">December 1, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-opens-comment-period-on-spot-bitcoin-etf\">began<\/a> collecting public feedback on the instrument. Lawyer Scott Johnson saw in this a signal that the regulator is prepared to approve all requests by January 10, 2024.<\/p>\n<p>The SEC took this step after postponing decisions on proposals from <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2023\/34-99031.pdf\">Hashdex<\/a> and<a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2023\/34-99030.pdf\">Franklin Templeton<\/a>. Representatives of the latter took the agency&#8217;s wishes into account and have already <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1992870\/000113743923001397\/ftdhts1a112023.htm\">updated<\/a> their filing.<\/p>\n<p>Earlier in November, Matrixport <a href=\"https:\/\/u1f987.com\/en\/news\/matrixport-says-bitcoins-break-above-40-000-is-inevitable\">called<\/a> Bitcoin&#8217;s move above $40,000 &#8220;inevitable&#8221; after settling <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-to-pay-50-million-under-u-s-doj-settlement\">claims<\/a> by U.S. authorities against Binance and its former CEO Changpeng Zhao.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 1, Bitcoin hit a yearly high, briefly surpassing $38,800.<\/p>\n","protected":false},"author":1,"featured_media":87751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-87750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=87750"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87750\/revisions"}],"predecessor-version":[{"id":87752,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87750\/revisions\/87752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87751"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}