Bitcoin (BTC) traded to a higher place a key zone into the weekly close on Nov. xiii later the successful activation of the Taproot soft fork.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

What ETF rejection?

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD property to a higher place $64,000 at 10 am UTC Sunday.

The pair had gained in the latter office of Saturday later on briefly acting below $63,000 thanks to U.s. regulators rejecting what would have been the first spot-based commutation-traded fund (ETF).

Seemingly unfazed by the motion, however, Bitcoin so returned to grade, seeing local highs of $65,350 on Bitstamp before consolidating.

Far from lamenting the ETF news, Dominicus was all about positive steps for Bitcoin, with market participants jubilant Taproot's launch.

The biggest upgrade to the Bitcoin protocol since 2022, Taproot provides a host of benefits impacting everything from security to Lightning Network efficiency. Information technology was first proposed seven years ago by developer Greg Maxwell and has at present finally become reality.

"The real work will exist in building wallets/protocols that build on top of information technology to brand employ of its advantages," Bitcoin core developer Pieter Wuille said every bit function of comments Sunday.

"I'chiliad very excited to see where that takes u.s.a.."

As Cointelegraph reported, soft forks take historically preceded bullish BTC price periods.

Tin Bitcoin "relieve" the weekly shut?

Lord's day'southward weekly close, meanwhile, sets up a challenge for bulls looking for a make clean interruption above a six-month resistance level.

Related: Price analysis xi/12: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, SHIB, LUNA

With Bitcoin characteristically putting in weaker price moves on Sundays and recovering on Mondays in recent weeks, the market stayed in the dark every bit the weekend came to a close.

"Looking for price to hold prev ath from Apr and this to exist a higher low," trader Pentoshi added analyzing daily timeframes.

"The range we don't want to go back into is the i we just came from."
BTC/USD ane-week candle chart showing range. Source: Pentoshi/Twitter

"Moonvember" still holds an increasingly controversial stop-of-calendar month price target of almost $100,000.