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Bitcoin Bears Paused at $41,700, BTC Price Likely to Start Recovery Soon
The price of Bitcoin fell to $41,707 and the price of BTC again surpassed $42,500 on Monday.
The increase in Bitcoin supply on exchanges caused the BTC Fear and Greed Index to change to neutral. Bitcoin whales engaged in profit-taking when the price of BTC fell from $46,900 to $41,700, according to data from Sentiment.
The price of Bitcoin (BTC) fell to its support zone on Monday as market participants turned their attention to Ethereum and altcoins. The BTC Spot ETF approvals by the Securities and Exchange Commission (SEC) turned out to be a “selling the news” event, and Bitcoin suffered a 15% drop in its price.
At the current price, 79.33% of BTC wallet addresses are profitable, on-chain data shows. Crypto analysts have said that accumulation of the asset by BTC issuers could catalyze a rally in the cryptocurrency as it drives demand.
Luke Broyles, a cryptocurrency expert at X, said that at the current rate, BlackRock could end up owning more Bitcoin than MicroStrategy by February 1. Broyles argued that this could change if current prices slow down or the price of Bitcoin increases.
Bitcoin demand from ETF issuers could catalyze a recovery in BTC price as the asset's bearish trend appears to have reached the $41,700 support.
BTC is currently in a support zone ($41,417 to $43,345) where 2.93 million addresses acquired 991,100 BTC, according to data from IntoTheBlock. The next upside target is the $43,345 level.
Factors that likely contributed to Bitcoin's recent decline include its increasing supply on exchanges and profit-taking by whales.
BTC supply on exchanges rose from a six-month low of 5.30% on January 7 to 5.39% on Monday.
#Bitcoin
The price of Bitcoin fell to $41,707 and the price of BTC again surpassed $42,500 on Monday.
The increase in Bitcoin supply on exchanges caused the BTC Fear and Greed Index to change to neutral. Bitcoin whales engaged in profit-taking when the price of BTC fell from $46,900 to $41,700, according to data from Sentiment.
The price of Bitcoin (BTC) fell to its support zone on Monday as market participants turned their attention to Ethereum and altcoins. The BTC Spot ETF approvals by the Securities and Exchange Commission (SEC) turned out to be a “selling the news” event, and Bitcoin suffered a 15% drop in its price.
At the current price, 79.33% of BTC wallet addresses are profitable, on-chain data shows. Crypto analysts have said that accumulation of the asset by BTC issuers could catalyze a rally in the cryptocurrency as it drives demand.
Luke Broyles, a cryptocurrency expert at X, said that at the current rate, BlackRock could end up owning more Bitcoin than MicroStrategy by February 1. Broyles argued that this could change if current prices slow down or the price of Bitcoin increases.
Bitcoin demand from ETF issuers could catalyze a recovery in BTC price as the asset's bearish trend appears to have reached the $41,700 support.
BTC is currently in a support zone ($41,417 to $43,345) where 2.93 million addresses acquired 991,100 BTC, according to data from IntoTheBlock. The next upside target is the $43,345 level.
Factors that likely contributed to Bitcoin's recent decline include its increasing supply on exchanges and profit-taking by whales.
BTC supply on exchanges rose from a six-month low of 5.30% on January 7 to 5.39% on Monday.
#Bitcoin
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#Bitcoin #crypto #Bitcoin2024
New news:
Standard Charter Bank says Bitcoin could reach $200,000 by the end of 2025 if spot ETFs are approved.🤑
New news:
Standard Charter Bank says Bitcoin could reach $200,000 by the end of 2025 if spot ETFs are approved.🤑
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$BTC Update
Btc is trading at 46600 and touched 47200 etf. The news is ahead. BTC completed its setup and will now fly.
I advise future traders to avoid shorting BTC for a few days. BTC day closed very bullish and closed above consolidation which means now BTC will not go down.
Now is the time to look just buy
#BTC2024 #BTCAllTimeHigh
#bullish
Btc is trading at 46600 and touched 47200 etf. The news is ahead. BTC completed its setup and will now fly.
I advise future traders to avoid shorting BTC for a few days. BTC day closed very bullish and closed above consolidation which means now BTC will not go down.
Now is the time to look just buy
#BTC2024 #BTCAllTimeHigh
#bullish
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#ETF #Bitcoin #BitcoinETF #EthereumHigh #criptomoneda
Warm start to a historic week for crypto: will bitcoin ETFs be approved?
The regulator is expected to announce its decision in the coming days
This Monday, the cryptocurrency markets kick off a key week for their future in the short, medium and long term. Bitcoin (BTC) is practically flat at this time, trading just below $44,000, while Ethereum (ETH) trims moderately to $2,220.
This week, the Securities and Exchange Commission (SEC) must announce whether or not it authorizes the marketing of spot bitcoin exchange-traded funds (ETFs) in the US. Speculation around these investment products has been the great catalyst for the market's rise in recent months, leading bitcoin to return to trading at prices prior to the high-profile bankruptcies that took place in the spring of 2022 and caused the bear market of that time.
In recent days, some of the exchanges on which these ETFs will be listed filed amended documents on behalf of some of the issuers of these funds, such as BlackRock or Grayscale, suggesting imminent approval. In statements to specialized media such as 'CoinDesk', some sources have revealed that, although it does not mean that approval is guaranteed, within the stock exchanges they are very optimistic on this front. The Commission is expected to give a response around January 10, but it could arrive sooner.
Although an overwhelming majority of investors are awaiting approval from the US regulator, there are still those who are moderately skeptical, both from the point of view of approval and its effect on prices. Numerous analysts have predicted that these investment products will lead bitcoin to equal or exceed the all-time highs of $100,000 reached in November 2021.
Follow me to stay up to date with crypto news🔥
Warm start to a historic week for crypto: will bitcoin ETFs be approved?
The regulator is expected to announce its decision in the coming days
This Monday, the cryptocurrency markets kick off a key week for their future in the short, medium and long term. Bitcoin (BTC) is practically flat at this time, trading just below $44,000, while Ethereum (ETH) trims moderately to $2,220.
This week, the Securities and Exchange Commission (SEC) must announce whether or not it authorizes the marketing of spot bitcoin exchange-traded funds (ETFs) in the US. Speculation around these investment products has been the great catalyst for the market's rise in recent months, leading bitcoin to return to trading at prices prior to the high-profile bankruptcies that took place in the spring of 2022 and caused the bear market of that time.
In recent days, some of the exchanges on which these ETFs will be listed filed amended documents on behalf of some of the issuers of these funds, such as BlackRock or Grayscale, suggesting imminent approval. In statements to specialized media such as 'CoinDesk', some sources have revealed that, although it does not mean that approval is guaranteed, within the stock exchanges they are very optimistic on this front. The Commission is expected to give a response around January 10, but it could arrive sooner.
Although an overwhelming majority of investors are awaiting approval from the US regulator, there are still those who are moderately skeptical, both from the point of view of approval and its effect on prices. Numerous analysts have predicted that these investment products will lead bitcoin to equal or exceed the all-time highs of $100,000 reached in November 2021.
Follow me to stay up to date with crypto news🔥
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#Bitcoin #ETFTrends
🔥BITCOIN🔥 regains momentum, while the market awaits a decision that could skyrocket its price
After a couple of days on the decline, Bitcoin starred in a rise this Friday that brought relief to the world of cryptocurrencies. Investors, attentive to an imminent definition by the SEC.
Bitcoin once again marked a rise in its price this Friday, resuming its upward trend after two days of decline that made crypto investors tremble.
The price of the main cryptocurrency touched US$44,000 and regained momentum amid a climate of maximum expectation for the eventual approval by the United States authorities of a new type of investment. This is the Bitcoin Spot ETF, which if approved by the Securities and Exchange Commission (SEC) would represent important legitimization for BTC and the entire world of digital currencies.
So much so, that an analysis by the Bitget Exchange states that, if the Bitcoin ETF is confirmed, the cryptocurrency could reach a price of US$100,000 this year.
🔥BITCOIN🔥 regains momentum, while the market awaits a decision that could skyrocket its price
After a couple of days on the decline, Bitcoin starred in a rise this Friday that brought relief to the world of cryptocurrencies. Investors, attentive to an imminent definition by the SEC.
Bitcoin once again marked a rise in its price this Friday, resuming its upward trend after two days of decline that made crypto investors tremble.
The price of the main cryptocurrency touched US$44,000 and regained momentum amid a climate of maximum expectation for the eventual approval by the United States authorities of a new type of investment. This is the Bitcoin Spot ETF, which if approved by the Securities and Exchange Commission (SEC) would represent important legitimization for BTC and the entire world of digital currencies.
So much so, that an analysis by the Bitget Exchange states that, if the Bitcoin ETF is confirmed, the cryptocurrency could reach a price of US$100,000 this year.
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#Bitcoin #criptomoneda
💵BITCOIN AND EURO💵: how much do they open the price for today, Monday, January 8.
These are the most important data to pay attention to regarding the evolution of this asset
After the stock market opening, Bitcoin was quoted at 09:00 a.m. at 48,197.98 euros, which represented a change of 0.24% compared to the previous day's data.
In relation to the last seven days, the virtual currency marks an improvement of 2.99%, so that from a year ago it still maintains an increase of 56.27%.
Compared to past days, there are notable fluctuations in the value of this asset.
In reference to the volatility of the last week, it is slightly higher than that accumulated in the last year, showing itself as an asset with greater changes than normal.
In the annual photo, the blockchain-based currency has reached a maximum of 49,204.30 euros, while its lowest level has been 46,797.92 euros. The new currency is positioned closer to its maximum than its minimum.
💵BITCOIN AND EURO💵: how much do they open the price for today, Monday, January 8.
These are the most important data to pay attention to regarding the evolution of this asset
After the stock market opening, Bitcoin was quoted at 09:00 a.m. at 48,197.98 euros, which represented a change of 0.24% compared to the previous day's data.
In relation to the last seven days, the virtual currency marks an improvement of 2.99%, so that from a year ago it still maintains an increase of 56.27%.
Compared to past days, there are notable fluctuations in the value of this asset.
In reference to the volatility of the last week, it is slightly higher than that accumulated in the last year, showing itself as an asset with greater changes than normal.
In the annual photo, the blockchain-based currency has reached a maximum of 49,204.30 euros, while its lowest level has been 46,797.92 euros. The new currency is positioned closer to its maximum than its minimum.
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#free #USDT #box #criptomoneda #freeusdt
Claim your rewards quickly and easily🎉
💵 Download or screenshot the attached QR codes.
💵scan the qr codes as shown in the attached image.
💵 Get a reward of up to 25 USDt for inviting friends with your QR code.
Claim your rewards quickly and easily🎉
💵 Download or screenshot the attached QR codes.
💵scan the qr codes as shown in the attached image.
💵 Get a reward of up to 25 USDt for inviting friends with your QR code.
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#criptomoneda #ElonMusk #Bitcoin #GEC
Bitcoin travels to the Moon this month (and it's not a metaphor): What does it mean for the future of cryptocurrency?
This month, a Canadian company called Geometric Energy Corporation (GEC) plans to send a satellite with a bitcoin node into lunar orbit, in what will be the first commercial mission funded by cryptocurrencies. The satellite, called DOGE-1, will be launched by SpaceX. Elon Musk's space company, which recently accepted payment in dogecoin, another popular cryptocurrency.
What is a bitcoin node and why is it important to send it to space?
A bitcoin node is a device that connects to the cryptocurrency network and validates the transactions and blocks that are generated. Nodes are essential to maintaining the security, integrity, and decentralization of the network by preventing fraud or attacks from occurring.
Currently, there are more than 10,000 bitcoin nodes distributed around the world, but none in space. By sending a bitcoin node to the Moon, GEC aims to demonstrate that the network can work in any environment, even the most extreme and distant. Furthermore, by using a satellite, the bitcoin node will not depend on any terrestrial infrastructure, such as the internet or electricity, making it more resilient and autonomous.
What implications does this project have for the future of bitcoin?
The GEC project is a historic milestone for bitcoin and cryptocurrencies, as it shows the potential for innovation and exploration that these technologies have. By sending bitcoin to the Moon, it opens up the possibility of using the cryptocurrency in space, which could have applications in tourism, mining, research or space colonization.
Additionally, expanding the bitcoin network into space increases the security, stability, and decentralization of the cryptocurrency, which could attract more investors, users, and developers. It also sends a symbolic message that bitcoin has no borders or limits.
Bitcoin travels to the Moon this month (and it's not a metaphor): What does it mean for the future of cryptocurrency?
This month, a Canadian company called Geometric Energy Corporation (GEC) plans to send a satellite with a bitcoin node into lunar orbit, in what will be the first commercial mission funded by cryptocurrencies. The satellite, called DOGE-1, will be launched by SpaceX. Elon Musk's space company, which recently accepted payment in dogecoin, another popular cryptocurrency.
What is a bitcoin node and why is it important to send it to space?
A bitcoin node is a device that connects to the cryptocurrency network and validates the transactions and blocks that are generated. Nodes are essential to maintaining the security, integrity, and decentralization of the network by preventing fraud or attacks from occurring.
Currently, there are more than 10,000 bitcoin nodes distributed around the world, but none in space. By sending a bitcoin node to the Moon, GEC aims to demonstrate that the network can work in any environment, even the most extreme and distant. Furthermore, by using a satellite, the bitcoin node will not depend on any terrestrial infrastructure, such as the internet or electricity, making it more resilient and autonomous.
What implications does this project have for the future of bitcoin?
The GEC project is a historic milestone for bitcoin and cryptocurrencies, as it shows the potential for innovation and exploration that these technologies have. By sending bitcoin to the Moon, it opens up the possibility of using the cryptocurrency in space, which could have applications in tourism, mining, research or space colonization.
Additionally, expanding the bitcoin network into space increases the security, stability, and decentralization of the cryptocurrency, which could attract more investors, users, and developers. It also sends a symbolic message that bitcoin has no borders or limits.
#USDT #free #freeusdt #Criptomonedas
Hi bros.
Here I leave my QR code and the code on my red envelope so you can claim it. good luck brothers.
code: 8URC0QDR
Hi bros.
Here I leave my QR code and the code on my red envelope so you can claim it. good luck brothers.
code: 8URC0QDR
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#ETFs #BitcoinETF #Criptomonedas #Bitcoin
EXPECTATION FOR BITCOIN: why the market cooled down and what can make it explode very soon.
Bitcoin had a significant drop in its price on Wednesday, after the explosive rise that led it to overcome the $45,000 barrier. What does the market expect?
After an explosive start to the year for Bitcoin, whose price climbed above $45,000, the market had a sudden cooling. This Wednesday, cryptocurrencies in general showed significant falls and values remained depressed this Thursday.
In fact, the global capitalization of the crypto market fell 512% in the last 24 hours, bringing its approximate valuation to 1.72 billion.
Although Bitcon had climbed above $45,500 on Tuesday, it abruptly corrected its price downwards to around $43,000. The drop may have been caused by a report from consulting firm Matrixport that indicated there was "no reason" for US authorities to approve spot Bitcoin ETFs, a financial instrument that is today seen as fundamental to the legitimization of cryptocurrency in the field of big finance.
Bitcoin: why its price can rise again
In fact, there is growing expectation about a possible approval of the first spot Bitcoin ETF. Despite the Matrixport report, the rumors that feed the market indicate that the approval for the new financial instrument could arrive this week, although there are still no official signs.
If approval occurs, Bitcon is expected to once again stage a large bullish rally. Along these lines, an analysis of the Bitget exchange anticipates that the cryptocurrency could reach US$100,000 this year.
Meanwhile, the Fear and Greed Index, which represents a thermometer of the ecosystem in general, is positioned in an area of greed, with a decline of 2 points compared to Wednesday (it went from 70/100 to 68/100).
EXPECTATION FOR BITCOIN: why the market cooled down and what can make it explode very soon.
Bitcoin had a significant drop in its price on Wednesday, after the explosive rise that led it to overcome the $45,000 barrier. What does the market expect?
After an explosive start to the year for Bitcoin, whose price climbed above $45,000, the market had a sudden cooling. This Wednesday, cryptocurrencies in general showed significant falls and values remained depressed this Thursday.
In fact, the global capitalization of the crypto market fell 512% in the last 24 hours, bringing its approximate valuation to 1.72 billion.
Although Bitcon had climbed above $45,500 on Tuesday, it abruptly corrected its price downwards to around $43,000. The drop may have been caused by a report from consulting firm Matrixport that indicated there was "no reason" for US authorities to approve spot Bitcoin ETFs, a financial instrument that is today seen as fundamental to the legitimization of cryptocurrency in the field of big finance.
Bitcoin: why its price can rise again
In fact, there is growing expectation about a possible approval of the first spot Bitcoin ETF. Despite the Matrixport report, the rumors that feed the market indicate that the approval for the new financial instrument could arrive this week, although there are still no official signs.
If approval occurs, Bitcon is expected to once again stage a large bullish rally. Along these lines, an analysis of the Bitget exchange anticipates that the cryptocurrency could reach US$100,000 this year.
Meanwhile, the Fear and Greed Index, which represents a thermometer of the ecosystem in general, is positioned in an area of greed, with a decline of 2 points compared to Wednesday (it went from 70/100 to 68/100).
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#BitcoinETF #ETFs #Bitcoin
BITCOIN, before at an important moment: because the price can "fly" next week.
The cryptocurrency market received this Saturday without major changes, after having spent the last few days in a tense upswing that affected the price of Bitcoin.
The volatility of the world's main cryptocurrency was such that during the week it rose to almost $46,000, its highest level since April 2022, and then moderated around $43,500. This was due to the possibility that the SEC, the United States securities and exchange authority, would approve several managers to create exchange-traded funds (ETFs) linked to Bitcoin.
The approval of the Bitcoin spot ETF was expected last week, which motivated both the sudden enthusiasm and investor discouragement that the currency's price showed. However, now market versions indicate that the new financial instrument could be approved next Wednesday, January 10. If this happens, it would mean an important legitimization for BTC and the entire world of digital currencies, which could be reflected in a significant rise in prices.
So much so, that an analysis by the Bitget Exchange states that, if the Bitcoin ETF is confirmed, the cryptocurrency could reach a price of US$100,000 this year.
On the other hand, a decision by the SEC against Bitcoin ETFs could be - the market fears - a serious blow to the credibility of the cryptocurrency.
In this context, the global capitalization of the crypto market fell 1.1% in the last 24 hours, bringing its approximate valuation to 1.72 billion.
BITCOIN, before at an important moment: because the price can "fly" next week.
The cryptocurrency market received this Saturday without major changes, after having spent the last few days in a tense upswing that affected the price of Bitcoin.
The volatility of the world's main cryptocurrency was such that during the week it rose to almost $46,000, its highest level since April 2022, and then moderated around $43,500. This was due to the possibility that the SEC, the United States securities and exchange authority, would approve several managers to create exchange-traded funds (ETFs) linked to Bitcoin.
The approval of the Bitcoin spot ETF was expected last week, which motivated both the sudden enthusiasm and investor discouragement that the currency's price showed. However, now market versions indicate that the new financial instrument could be approved next Wednesday, January 10. If this happens, it would mean an important legitimization for BTC and the entire world of digital currencies, which could be reflected in a significant rise in prices.
So much so, that an analysis by the Bitget Exchange states that, if the Bitcoin ETF is confirmed, the cryptocurrency could reach a price of US$100,000 this year.
On the other hand, a decision by the SEC against Bitcoin ETFs could be - the market fears - a serious blow to the credibility of the cryptocurrency.
In this context, the global capitalization of the crypto market fell 1.1% in the last 24 hours, bringing its approximate valuation to 1.72 billion.
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