Bitcoin ETF

Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>November 2023 was another robust month for <a href="https://cryptoslate.com/coins/bitcoin/">Bitcoin</a>, which saw a surge of almost 7% over 30 days. The month was marked with several highlights, including setting a new year-to-date high by crossing the <a href="https://cryptoslate.com/insights/bitcoin-momentarily-surpasses-38000-to-hit-year-to-date-high-in-eu-trading-session/">$38,000 mark</a>. This was attributed to noticeable <a href="https://cryptoslate.com/insights/coinbases-btc-trading-premium-hints-at-us-market-bullishness/">premiums</a> on CME and Coinbase, signaling bullishness within the U.S. market.</p> 
<p>However, it was not a smooth ride, as there were substantial liquidations. Notably, Nov. 9 witnessed a drastic estimated total of <a href="https://cryptoslate.com/insights/tumultuous-9-day-stretch-culminates-in-massive-crypto-leverage-clear-out-of-over-1-7b/">$500 million in crypto liquidations</a> within a day. Despite these fluctuations, November 2023 was noteworthy as it is the first time since 2020 that Bitcoin posted a positive return for this month, the previous instance being in 2017.</p> 
<figure id="attachment_378134" aria-describedby="caption-attachment-378134" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-378134 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/nov-1.png" alt="Bitcoin Monthly Returns: (Source: Coinglass)" width="1073" height="481" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/nov-1.png 1073w, https://cryptoslate.com/wp-content/uploads/2023/11/nov-1-300x134.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/nov-1-1024x459.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/nov-1-768x344.png 768w" sizes="(max-width: 1073px) 100vw, 1073px">
 <figcaption id="caption-attachment-378134" class="wp-caption-text">
  Bitcoin Monthly Returns: (Source: Coinglass)
 </figcaption>
</figure> 
<p>Adding to the highlights, <a href="https://cryptoslate.com/insights/purpose-bitcoin-etf-hits-record-holdings-in-2023-as-grayscale-trust-narrows-discount/">Purpose Bitcoin</a> ETF holdings also scaled a year-to-date high. Furthermore, the Bitcoin network saw a surge in its <a href="https://cryptoslate.com/insights/bitcoin-sees-sixth-straight-difficulty-increase-amid-record-breaking-hash-rate-surge/">hash rate</a>, reaching an all-time high. This indicates a growing number of miners attracted by the prospects of high returns, enhancing the security and robustness of the Bitcoin network.</p> 
<p>The post <a href="https://cryptoslate.com/insights/november-sees-bitcoin-soar-7-topping-year-to-date-highs-amid-u-s-bullishness/">November sees Bitcoin soar 7%, topping year-to-date highs amid U.S. bullishness</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

November sees Bitcoin soar 7%, topping year-to-date highs amid U.S. bullishness

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