Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Chinese Regulator Mulling ‘Major’ Crypto Pivot

12/07/2025

MyTonWallet Pay’s Tokenstore debut brings TON one step closer to cash

12/07/2025

Akave Launches Decentralized Data Layer on Avalanche with Akave Cloud

12/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    which is the better buy?

    12/07/2025

    El Salvador Overtakes North Korea in Bitcoin Holdings After Lazarus Group’s Reduction

    12/07/2025

    Bitcoin price could hit $140k as institutional interest rises: MEXC COO

    12/07/2025

    $878,917,974 Bitcoin Stun Largest US Crypto Exchange, Coinbase

    12/07/2025

    Massive Binance Whales’ Ethereum (ETH) Accumulation: Is Supply Shock Incoming?

    11/07/2025

    Ethereum (ETH) Price Prediction for July 8

    11/07/2025

    Ethereum Whale Moves Signal Price Surge Incoming – Will ETH Hit $3,000 Soon?

    11/07/2025

    It’s Time for Ethereum (ETH), Which Lags Behind Bitcoin, to Explode! Analyst Points to This Week!

    11/07/2025

    T, AB, GNS, SEI, & HSK Lead Top Crypto Assets in Strong Accumulation Phase, Sets for Price Rally 

    12/07/2025

    Over 130M $GALA Bridged Daily as Node Staking Changes Go Live

    12/07/2025

    Memecoin PNUT Rips on Elon Musk’s Epstein Cue

    12/07/2025

    Aptos RWA TVL Soars 55% to Surpass Stellar, Now 3rd Behind Ethereum & zkSync

    12/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    09/07/2025

    Chinese Regulator Mulling ‘Major’ Crypto Pivot

    12/07/2025

    MyTonWallet Pay’s Tokenstore debut brings TON one step closer to cash

    12/07/2025

    Akave Launches Decentralized Data Layer on Avalanche with Akave Cloud

    12/07/2025

    which is the better buy?

    12/07/2025
  • Blockchain

    Akave Launches Decentralized Data Layer on Avalanche with Akave Cloud

    12/07/2025

    DeepLink and Roam Unite to Build Borderless Cloud Access and Gaming

    10/07/2025

    A Breakthrough for Blockchain Exploration

    10/07/2025

    Dechat Forges Partnership with Bullbit AI to Transform AI-Driven Trading Infrastructure

    10/07/2025

    It May Also Be Developing Its Own Blockchain!

    10/07/2025
  • DeFi

    Plume Launches SkyLink on TRON to Enable Real-World Asset Yields

    11/07/2025

    EUL Hits New All-Time High Led by Protocol Growth

    11/07/2025

    AscendEX Forges Partnership with M3 DAO to Bridge Real-World Finance and Web3

    11/07/2025

    Aave Outperforms DeFi Sector with 52% TVL Surge in Q2

    11/07/2025

    Bitcoin Exchange Bithumb Shares New Listing Announcement! Here’s the Listed Altcoin

    11/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    More Bitcoin? Crypto Should Account for Up to 40% of Portfolios, Influential Financial Advisor Says

    12/07/2025

    Tensions Escalate Between Donald Trump and Fed Chair Jerome Powell – Trump Sends Handwritten Letter – Here Are the Details

    12/07/2025

    Circle, One of the Largest Stablecoin Companies, Files Critical Bank Application in the US

    12/07/2025

    Goldman Sachs Changes Its Forecast for When the US Will Cut Interest Rates – Here’s the New Date

    12/07/2025

    Hut 8 tightens Trump family ties through American Bitcoin

    12/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    MyTonWallet Pay’s Tokenstore debut brings TON one step closer to cash

    12/07/2025

    Stunning Fact About Binance’s CZ Revealed by Anthony Pompliano

    12/07/2025

    Morning Release from South Korea! Two New Altcoins Listed, Prices See Sharp Rise!

    12/07/2025

    The winners and losers of Phantom’s Hyperliquid integration

    12/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    10/07/2025

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    09/07/2025

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    09/07/2025

    Off The Grid studio unveils Solana cofounder-inspired skin

    09/07/2025

    Russia elevates AI over Bitcoin with impending ban on data center mining

    11/07/2025

    BIT Mining Stock Soars After Bitcoin, Dogecoin Miner Reveals $300 Million Solana Pivot

    11/07/2025

    Shareholders push back against high pay for public Bitcoin miner execs after record equity grants

    11/07/2025

    KULR Mining Hits 750 PH/s With New Bitmain Mining Rigs Stationed in Paraguay

    10/07/2025

    Chinese Regulator Mulling ‘Major’ Crypto Pivot

    12/07/2025

    Is Regulation Getting More Hostile?

    12/07/2025

    European Union’s SEC Issues Cryptocurrency Warning!

    12/07/2025

    SEC’s Halt of ETF Holding XRP and Solana Has Investors ‘Suffering Harm’, Grayscale Says

    12/07/2025

    Chinese Regulator Mulling ‘Major’ Crypto Pivot

    12/07/2025

    MyTonWallet Pay’s Tokenstore debut brings TON one step closer to cash

    12/07/2025

    Akave Launches Decentralized Data Layer on Avalanche with Akave Cloud

    12/07/2025

    which is the better buy?

    12/07/2025
  • MarketCap
NBTC News
Home»Bitcoin»Why Did Bitcoin Price Soar To $36,800? Here’s Why
Bitcoin

Why Did Bitcoin Price Soar To $36,800? Here’s Why

NBTCBy NBTC09/11/2023No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The Bitcoin price has seen a significant increase of more than 4% within the last 24 hours. The price has risen to $36,800. Several key factors have contributed to this rally.

#1 Spot Bitcoin ETF Buzz

The surge in BTC’s price can be attributed to renewed speculations about the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). Yesterday, Bloomberg’s James Seyffart put out a new note, highlighting that the SEC is in a unique position within the next eight days where they could approve all 12 spot ETF applications, as Bitcoinist reported.

Seyffart further pointed out that the SEC has the opportunity to approve 9 applications (excluding Global X Bitcoin Trust, Hashdex Bitcoin ETF, and Franklin Bitcoin ETF) at any point until January 10, 2024. Bloomberg’s Seyffart and Eric Balchunas still estimate a 90% chance of approval for at least some of the pending applications before January 10, 2024.

The ETF buzz was further fueled by news that Grayscale is in active discussions with the SEC regarding the conversion of its GBTC trust into a spot ETF. Grayscale’s recent court victory over the SEC on August 29 has added to the anticipation.

#2 Bitcoin Whales

There has been a notable increase in activities by Bitcoin whales, which can be interpreted as a sign of market optimism. Crypto analyst MartyParty pointed out a pattern of substantial purchases, with a whale reportedly buying $15 million of BTC every three hours, suggesting anticipation of positive developments in the ETF front.

Bitcoin whale | Source: X @martypartymu

Keith Alan from Firecharts observed that Bitcoin whales are actively shifting liquidity in the market, with noticeable changes in bid levels. He stated, “FireCarts shows BTC whales continuing to move liquidity around the order book. Bids that were moved down to $34k earlier have now returned to the $34.5k level.”

Additionally, an increase in TWAP (Time-Weighted Average Price) buying on Coinbase has been reported. Crypto analyst Exitpump noted, “BTC Spot Delta: Someone on Coinbase twapping / market buying.” TWAP buying is a trading strategy used by big players to execute large orders in a way that aims to minimize price impact and achieve an average execution price close to the market average over a specified time period.

#3 Short Squeeze

The Bitcoin market has also experienced a significant short squeeze, with approximately $51 million in BTC short positions being liquidated today (according to Coinglass data, as of press time). This amount marks the largest short squeeze since October 23 and 24, when $161 million and $68.5 million in Bitcoin short positions were liquidated on consecutive days, leading to a substantial price increase of more than 18%. Today’s short squeeze certainly caught some traders on the wrong foot who believed that $36,000 – the previous range high – was a “safe” short trade.

Bitcoin total liquidations
Bitcoin total liquidations | Source: Coinglass

#4 Bitcoin Supply Dynamics

The supply of Bitcoin on exchanges has been steadily decreasing, reaching a six-year low at the end of October. Daan Crypto Trades, a noted crypto trader, highlighted the downward trend in Bitcoin inflows to exchanges. He remarked:

Bitcoin Exchange inflows have been trending down on the higher timeframe. Compared to for 2021-2022 there’s a clear trend down in BTC inflows to exchanges. Would expect that to start ticking back up once the bull market really gets going and people start taking profits.

Furthermore, on-chain data reveals that a significant 76% of the Bitcoin supply is currently held by long-term holders, who haven’t moved their coins for over 155 days. Analyst Dylan LeClair emphasized the strength of hodlers, noting that a staggering 88.5% of the supply has remained static over the last three months.

“The hilarious thing is that 88.5% of the Bitcoin supply hasn’t moved in the last three months. Wall Street is gonna have to really pump this thing to get hodlers to part with their coins,” LeClair stated.

At press time, BTC traded at $36,585.

Bitcoin price
BTC price climbs above $36,500, 1-day chart | Source: BTCUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

which is the better buy?

12/07/2025

El Salvador Overtakes North Korea in Bitcoin Holdings After Lazarus Group’s Reduction

12/07/2025

Bitcoin price could hit $140k as institutional interest rises: MEXC COO

12/07/2025

$878,917,974 Bitcoin Stun Largest US Crypto Exchange, Coinbase

12/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Chinese Regulator Mulling ‘Major’ Crypto Pivot

12/07/2025

MyTonWallet Pay’s Tokenstore debut brings TON one step closer to cash

12/07/2025

Akave Launches Decentralized Data Layer on Avalanche with Akave Cloud

12/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.