Higher BTC price earnings? Bitcoin traders open many long positions quickly

TL; DR

Bitcoin (BTC) hit a fresh 18-month high of $36,700, adding to bullish sentiment and futures positions. Predictions from experts, analysts and AI including ChatGPT suggest that BTC could rise further in the coming months due to potential mass adoption, ETF approvals and the upcoming halving. In parallel, Ripple's XRP has seen a bullish trend of more than $355 million in Bitrue futures, even surpassing Binance Coin in market capitalization in a short period of time.

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Setting $40K as a new target?

The price of Bitcoin (BTC) recently started another uptrend, rising to $36,700 (per CoinGecko data). The new 18-month peak seems to have fueled further enthusiasm among market participants.

According to Sentiment, traders are currently bullish on their assets, with BTC long and futures positions rising sharply. In addition, total open demand on cryptocurrency exchanges exploded to $7.2 billion (the highest level since early August).

🤑 #Bitcoin, now up +37% in 2 months, traders open ratio # bullish positions (vs. #bearish) to 3-month high. Also, the exchange's total open interest reached $7.2B. Ideally, $BTC will continue to rise after #FOMO calms down. pic.twitter.com/4TyZe5YfFz

— Santiment (@santimentfeed) November 8, 2023

Experts, analysts and even the AI-powered language model ChatGPT have predicted that BTC will rise in the coming months, depending on several critical factors. Some of these include mass adoption, the approval of a Bitcoin ETF in the US, and the upcoming halving.

If you want to see five price predictions from celebrities, you can watch the video below:

XRP traders are also long.

Recently as CryptoPotato reported, some traders are also very bullish on Ripple's native token. Specifically, Bitrue futures traders hold more than $355 million worth of XRP, with 91% opening long XRP/USDT positions.

The previously mentioned coin recorded a recent high of $0.73 last week. as well exceeded Binance Coin in terms of market capitalization, but BNB later regained its position.