BTCRebounds100K

Word of the Day: Test Your Knowledge on “Bitcoin Evolution” to Earn Binance Points and More!
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance is pleased to launch a new Word of the Day (WOTD) game! All eligible users will equally share a pool of 500,000 Binance Points, which can be used to redeem BNB token vouchers and BNB trading fee rebate vouchers at the Rewards Hub. 
The theme of this week is “Bitcoin Evolution”. Read selected articles to learn more about this topic, participate in this week’s WOTD, and grab a share of the rewards. 
Activity Period: 2024-12-09 00:00 (UTC) to 2024-12-15 23:59 (UTC)
WOTD is an educational word-guessing game, which allows users to increase their crypto vocabulary and stay on top of the latest market developments.
How Does It Work
All eligible users may play up to two WOTD games per day to test their knowledge on the given topic.
Users who get a total of five correct answers during the Activity Period are eligible for an equal share of 500,000 Binance Points.
How to Enable the Second WOTD Game
After the first game, click the "Get A New WOTD" button.
Share one of the selected articles of the day on social media.
Unlock the second WOTD game once the selected article is successfully shared on social media and the shared link is clicked by a third party.
New User Welcome Bonus
In addition, all new users who register for a Binance account using the “WOTD2024” referral code or via this referral link during the Activity Period, will each receive 10% off their spot trading fees. Users may also qualify for additional welcome rewards by completing tasks available at the Rewards Hub within 14 days after registration.
Play WOTD Now to Earn Rewards!
Related Readings for This Week’s WOTD
Who is Satoshi Nakamoto? A New HBO Documentary Claims to Have Solved the Mystery
Binance Research: Exploring the Evolution of Bitcoin
About Binance Points
Binance Points are reward points offered by Binance's loyalty program. Users can accumulate Points by completing tasks, joining activities or completing point-based activities in the Rewards Hub. The Points can be used to claim rewards in the Rewards Shop, such as token vouchers and trading fee rebate vouchers.
Terms & Conditions
Binance reserves the right to modify or cancel the Promotion at any time without prior notice.
These terms and conditions (“Activity Terms”) govern users’ participation in this WOTD activity (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Policy; all of which are incorporated by reference into these terms and conditions. 
In case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Policy.
The WOTD game may not be available in certain countries/regions. Only users from eligible countries/regions who complete account verification shall be able to participate and receive rewards.
Users may play up to two WOTD games daily. To unlock the second WOTD game of the day, click on the "Get A New WOTD" button after the first game and share any selected article of the day on social media. The sharing will be deemed successful when the shared link is clicked by a third party.
All Binance Points will be distributed within two weeks after the Activity ends. Users will be able to log in and redeem a variety of rewards using Binance Points via Profile > Rewards Hub. 
Please note that each Binance Point will expire on the last day of the same month of distribution in the following year, if it is not used to redeem rewards at the Rewards Hub. For more information on Binance Points, please refer to the FAQ. 
For the new user welcome bonus: The 10% spot trading fee discount will remain valid as long as the Binance referral program is in place. Users may qualify for welcome rewards by completing tasks available at the Rewards Hub within  14 days after registration.
Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegal bulk account registrations, self dealing, or market manipulation).
Binance reserves the right to disqualify any participant found to be engaging in fraudulent activities or violating the platform’s terms of use.
Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these Activity Terms without prior notice, including but not limited to canceling, extending, terminating or suspending this Activity, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all users shall be bound by these amendments.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-12-09
$BTC

#BTCRebounds100K
#Bitcoin❗

Solana price opened trading at $213 on December 11, having tumbled 15% during the crypto market crash on Monday.SOL price has now rebounded 8.23% within the last 12 hours, rising as high as $220 in the early hours of December 11.After narrowly averting the $200 breakdown on Monday, Solana bull traders have deployed $237 million leverage around the current prices.Solana Price Analysis:Solana price opened trading at $213 on December 11, having tumbled 15% during the crypto market crash on Monday. An in-depth analysis of SOL derivatives trading data shows the majority of investors are holding out for an early rebound, rather than exit within the current market conditions.Having avoided a breakdown below $200, is SOL price on the verge of major bullish reversal?
Solana shows resilience amid $1.5B crypto market liquidations
The global crypto market descended into dramatic tailspin on Monday, as rising geopolitical risks triggered a $1.5 billion worth of liquidation on Monday. However, while top-ranked altcoins like Bitcoin (BTC) and Ethereum (ETH) fell below key support levels at $95,000 and $3,500 respectively, Solana bulls managed to defend the $200 territory.
As the risk factors abate, Solana price is now flashing signals of an early rebound.
The SOLUSD 12-hourly shows how Solana price has initially tumbled 15% as it fell from $237 to $203 during the crypto market crash on Monday. But having held firm at the $200 support, SOL price has now rebounded 8.23% within the last 12 hours, rising as high as $220 in the early hours of December 11.
Solana bulls deploy $237M leverage to fund rebound effort
After narrowly averting the $200 breakdown on Monday, Solana bull traders have rapidly sprung into action, deploying unusually-high leverage on existing LONG contracts, a move that could see them earn amplified profits as demand gradually returns to the crypto markets.
Affirming this stance, Coinglass’ Liquidation Map metric tracks the value of leverage LONG vs. SHORT positions currently deployed around the current SOL prices.
As Solana price advances towards $220 resistance on Wednesday, bulls appear to have overpowered SHORT traders over the last 24 hours. As seen above, Solana bulls have deployed $237 million worth of leverage on LONG positions, outpacing the $174.9 million leverage deployed on the corresponding SHORTs contracts by 26%.
When long leverage overtakes shorts during a market crash as observed above, it often signals that the bottom might be in. With the majority of active traders now speculating on the upside, Solana price now appears to be on the verge of pivoting towards a major bullish reversal.
If the bulls traders make rapid spot purchases, to support their highly-leveraged long-bets, the resulting surge in market demand and liquidity could potentially put the SOL price above the looming $220 resistance level.
Solana price forecast: Bull traders back in control if SOL closes above $230
After defending the $200 support amid the 8.6% correction on Monday, Solana price is attempting a recovery towards the $230 area, backed by increased leverage from bull traders, and positive technical signals.
Confirming the optimistic outlook, the Relative Strength Index (RSI) shows an upward reversal after initially plunging towards oversold conditions. More so, the Donchian Channels indicator also highlight $233 as a key resistance level, and a close above this threshold could signal the start of a renewed bullish trend.
Additionally, the Volume Delta flipping green indicates the ongoing rebound is support by strong spot demand and rising market liquidity. If SOL closes above the critical $233 resistance, a breakout towards new all time highs around $270 could be on the cards.
On the downside, key support levels to watch are around $203 and $180. But based on the current dominant LONG leverage positions, such a dramatic breakdown appears unlikely within the current market conditions.
#BTCRebounds100K
$SOL