The Taproot soffork upgrade is expected to improve the Bitcoin blockchain network’s privacy, efficiency and smart contracts capability. This negative development was, however, quickly overshadowed by the successful activation of the Taproot soft fork on November 13. In addition, BTC’s setback was also fueled by the Securities and Exchange Commission’s (SEC) rejection of VanEck’s Bitcoin exchange-traded product that aimed to track Bitcoin’s spot price. Taproot Upgrade To Fuel BTC’s Uptrendīitcoin (BTC) turned away from the all-time high (ATH) around $69,034 in the past week due to profit-taking and capital rotation from the big cryptocurrencies into undervalued altcoins. The bullish momentum is set to continue as the developments around the Taproot soft fork upgrade come into focus. ![]() ![]() Bitcoin price is currently hovering around $65,524 with a bullish bias after successfully bounding off the $62,000 coincinding with the 50-period Simple Moving Average (SMA) support wall on November 13.
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