{"id":224718,"date":"2021-04-12T11:53:29","date_gmt":"2021-04-12T08:53:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/"},"modified":"2021-04-12T11:53:29","modified_gmt":"2021-04-12T08:53:29","slug":"record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/","title":{"rendered":"# Record BTC weekly close, Ethereum all-time high: 5 things to watch in Bitcoin this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41de7dc1851\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41de7dc1851\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/#Stocks_reflect_coronavirus_mayhem\" >Stocks reflect coronavirus mayhem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/#Breakout_on_the_cards_for_Bitcoin\" >Breakout on the cards for Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/#Coinbase_punctuates_booming_on-chain_indicators\" >Coinbase punctuates booming on-chain indicators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/#Ether_sees_fresh_historic_peak_in_altcoin_surge\" >Ether sees fresh historic peak in altcoin surge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\/#Coinbase_outflows_reinforce_institutional_buy-in_narrative\" >Coinbase outflows reinforce institutional buy-in narrative<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Record BTC weekly close, Ethereum all-time high: 5 things to watch in Bitcoin this week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is back with a vengeance this week as a new day\u2019s trading gets underway with a fresh attack on $60,000.<\/p>\n<p>After a weekend in which the largest cryptocurrency avoided a correction, Monday is looking bullish \u2014 but what could shape price action in the short term?<\/p>\n<p>Cointelegraph presents five factors to keep an eye on for Bitcoin traders as the market inches closer to historic all-time highs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stocks_reflect_coronavirus_mayhem\"><\/span>Stocks reflect coronavirus mayhem<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The macro picture is a tale of two coronavirus moods this week. <\/p>\n<p>With the United Kingdom exiting lockdown, sentiment among business leaders has bounced to highs, indicative of pockets of optimism surfacing in the West still battered by coronavirus restrictions.<\/p>\n<p>The picture is muddied by Eurozone main players France and Germany, in which the picture is much less rosy, while the United States is also a patchwork of policy when it comes to the virus.<\/p>\n<p>As such, stocks are broadly flat as the week begins, while elsewhere, looming lockdown is sending sentiment plummeting in India, Monday\u2019s main downward mover.<\/p>\n<p>The controversial measures from Delhi \u201care unnerving markets and no one is sure whether lockdowns will help bring cases under control,\u201d Deepak Jasani, head of retail research at HDFC Securities <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-12\/rupee-tumbles-with-stocks-as-virus-cases-in-india-hit-new-record\">told<\/a> Bloomberg. <\/p>\n<blockquote><p>\u201cThe incentive to try and bottom-fish at this point is limited for traders.\u201d<\/p><\/blockquote>\n<p>Markets commentator Holger Zschaepitz meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1381506844007391232\">described<\/a> a \u201cbusy\u201d week for equities, noting new highs for mainstream risk assets on Friday \u2014 something which increasingly includes Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Breakout_on_the_cards_for_Bitcoin\"><\/span>Breakout on the cards for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The signal of the moment within Bitcoin is finally tied to the spot market.<\/p>\n<p>On Monday, $60,000 is back after BTC\/USD last passed the significant price level early on Saturday.<\/p>\n<p>The weekend saw the largest weekly close in Bitcoin\u2019s history at around $60,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b514c623-17ea-4d35-b3e9-e3e42a9192d5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>At the time of writing, the BTC\/USD pair is targeting $61,000 again, less than $1,000 from all-time highs. Among analysts, expectations of Bitcoin reentering uncharted territory are predictably high.<\/p>\n<p>\u201cAnother breakout attempt,\u201d on-chain analytics service Skew <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/skewdotcom\/status\/1381512542904852480\">summarized<\/a>.<\/p>\n<p>A look at orderbook activity on major exchange Binance shows sellers lined up at $60,500, $61,500 and $62,000 before orders begin to dry up. On the buy side, $59,000, $58,000 and $57,000 remain strong areas of interest.<\/p>\n<p>The resulting constriction of volatility, with Bitcoin sandwiched between major buy and sell interest, is a classic signal for the final stages of price consolidation. At 50 days, Bitcoin has now been in such a consolidatory regime since hitting $58,300 for the first time in the last week of February.<\/p>\n<p>For popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> trader Crypto Ed, the latest move is surprising, as just last week, more bearish signals filled the low-timeframe landscape. Sunday, in addition, was pointing to an incoming drop.<\/p>\n<p>\u201cSurprising PA this morning invalidating this idea,\u201d he commented.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_punctuates_booming_on-chain_indicators\"><\/span>Coinbase punctuates booming on-chain indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cointelegraph has often reported on the strength of Bitcoin on-chain indicators this year, these consistently demanding a continuation of the bull market throughout 2021.<\/p>\n<p>Despite the past weeks\u2019 consolidation, nothing has changed for fundamentals, which show that Bitcoin is not yet near the bull cycle peak, for example like that of December 2017.<\/p>\n<p>For Twitter account Byzantine <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>, which produced a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ByzGeneral\/status\/1381095621017354240\">comprehensive overview<\/a> of indicator data this weekend, there is thus no reason to be bearish at $60,000.<\/p>\n<p>\u201cSummary: &#8211; derivs a bit overheated &#8211; constant strong spot bid &#8211; institutional driven flow &#8211; no peak retail euphoria yet &#8211; mainstream adoption getting very real &#8211; Coinbase IPO could be volatility catalyst,\u201d it concluded.<\/p>\n<p>Many of those points refer to material already covered by Cointelegraph, while Coinbase\u2019s upcoming direct listing on Nasdaq (April 14) may provide a rare counterpoint narrative this week.<\/p>\n<p>Specifically, listing day can often see a sell-off for companies going public, and this Wednesday may therefore see temporary volatility.<\/p>\n<p>\u201c\u2018Coinbase\u2019 google searches suggest that normies haven\u2019t caught on yet,\u201d Byzantine General added. <\/p>\n<blockquote><p>\u201cIt seems to be only crypto nerds that are aware and even among us there\u2019s disagreement on what this event entails.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/0822cfff-d1d6-4ab8-9ed2-4ab129231ed6.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD performance compared to previous cycles. Source: Ecoinometrics\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ether_sees_fresh_historic_peak_in_altcoin_surge\"><\/span>Ether sees fresh historic peak in altcoin surge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s not just Bitcoin shooting for the moon on Monday \u2014 altcoins are setting records, indicative of a broader leg up for cryptocurrency interest.<\/p>\n<p>These are being led by Ether (ETH), the largest altcoin by market cap, which has hit new all-time highs on the day, currently at $2,190.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/8316f1c7-5994-4b64-aa0e-7e1b489d1059.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Bitstamp). Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>Long tipped to be targeting $5,000 and even $10,000 this cycle, ETH\/USD has gained 7% in the past week, frequently outperforming Bitcoin itself.<\/p>\n<p>That performance nonetheless pales in comparison to other major cap altcoins, notably Binance Coin (BNB), up 70% in seven days and nearing $600.<\/p>\n<p>\u201cI think $BNB is headed to $600. Pennant break. All time high break. Price discovery. A lot to like. Looks insane on $BTC pair as well,\u201d analyst Scott Melker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1379077847608872960\">commented<\/a> on the action last weekend in a timely prediction.<\/p>\n<p>As Cointelegraph reported, \u201cAlt Season 2.0\u201d is expected to hit its stride only in summer and reaching hitherto unknown proportions. Fellow analyst Filbfilb, co-founder of trading suite Decentrader, believes altcoins\u2019 time is already here.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_outflows_reinforce_institutional_buy-in_narrative\"><\/span>Coinbase outflows reinforce institutional buy-in narrative<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Finally, another event which cast the spotlight on Coinbase \u2014 this time involving users, rather than the company itself.<\/p>\n<p>According to on-chain monitoring resource Glassnode, Sunday saw a sudden spike of $750 million in outflows from Coinbase\u2019s books.<\/p>\n<p>While not unequivocally indicative of a major buy-in, such an event would not be unheard of in the current environment, but would be significant in terms of size.<\/p>\n<p>Institutional investors continue to both buy and champion Bitcoin as an investment, while rumors <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/vikrantnyc\/status\/1378812643616636929\">swirl<\/a> of more famous names reportedly eyeing an allocation. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/fb839197-aaeb-4ac7-8c29-1b6f1a655531.png\"><figcaption style=\"text-align: center;\"><em>Coinbase outflows chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/record-btc-weekly-close-ethereum-all-time-high-5-things-to-watch-in-bitcoin-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Record BTC weekly close, Ethereum all-time high: 5 things to watch in Bitcoin this week &#8221; Bitcoin (BTC) is back with a vengeance this week as a new day\u2019s trading gets underway with a fresh attack on $60,000. After a weekend in which the largest cryptocurrency avoided a correction, Monday is looking bullish \u2014&#8230;<\/p>\n","protected":false},"author":1,"featured_media":224719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvNTkyMGQ1YmMtY2NhOS00ZjNhLTg4NWMtZTBkNGE2Yjk5YTc1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75166,74862,74937,82402,74891,73785],"class_list":["post-224718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance-coin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/224718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=224718"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/224718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/224719"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=224718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=224718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=224718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}