😍😍😍 #bitcoin☀️ in November: 7% Gains So Far—Is a Bigger Rally Ahead?

Bitcoin has risen 7% this November, and analysts are eyeing a surge to $100,000 following Donald Trump’s presidential win. Increased #stablecoin activity suggests traders are gearing up for potential $BTC volatility, while some experts anticipate Bitcoin reaching $200,000 by mid-2025 due to rising institutional interest.

Path to $100K: Analysts Weigh In

- Ryan Lee, lead analyst at #Bitget Research, sees Bitcoin on track to surpass $100,000 in the coming months. The heightened open interest in BTC futures and rising stablecoin usage indicate that traders expect significant price swings, which could propel Bitcoin upward if fresh capital continues entering the market.

- Similarly, Fadi Aboualfa from Copper.co links Trump’s victory to a possible policy shift in the U.S. that may benefit digital assets. He predicts that by January’s inauguration, Bitcoin could reach $100,000. With around 1.1 million BTC held in ETFs, institutional demand is poised to drive further gains.

- Analyst Gert van Lagen highlighted Bitcoin’s recent breakout from a "Descending Broadening Wedge" pattern, signaling potential explosive growth. He projects BTC could hit $200,000 by May 2025, suggesting it’s now primed for parabolic gains.

$100,000 on the Horizon?

- Crypto influencer Lark Davis shared in a recent video his forecast for BTC to reach $100,000 within 90 days, citing Bitcoin’s recent high of $77,000 as a sign of growing market momentum.

- With factors like increased stablecoin dominance, institutional investment, and optimism surrounding Trump’s policies, Bitcoin appears on the cusp of a substantial rally. November’s promising start has investors watching closely, hopeful BTC has much more in store as it heads toward new all-time highs.

#BinanceSquareBTC #BitcoinPricePredictions

🚀🚀🚀 #bitcoin☀️ Hits New High Above $76,000 Following #Trump's Victory

Bitcoin markets surged today, hitting a new all-time high after Donald Trump secured a second term as U.S. president. The leading cryptocurrency reached approximately $76,500 this afternoon, according to Coinbase data on TradingView.

Several analysts attributed this rally to Trump’s reelection. Tim Enneking, managing partner at Psalion, highlighted the strong link between Bitcoin’s price movements and the election outcome. “It’s rare to see such a direct cause-and-effect relationship in public markets,” Enneking noted. “As Trump gained votes, BTC rose; when Harris gained votes, BTC fell.”

Brett Sifling, an investment advisor at Gerber Kawasaki Wealth & Investment Management, echoed this view, stating that “These gains in Bitcoin are largely a result of Donald Trump’s victory.” Sifling added that many market participants viewed the election outcome as favorable for crypto, pointing to Trump’s pro-crypto stance and commitment to bolstering America’s crypto position.

“Trump’s enthusiasm for blockchain is evident, from his #NFT​ drop to launching his own coin,” Sifling continued, emphasizing Trump’s interest in integrating Bitcoin into the financial system.
Looking ahead, several experts shared their price projections. Alice Liu, head of research at CoinMarketCap, expressed optimism. “Analysts are predicting Bitcoin could hit $80,000 or even $90,000 in the wake of Trump’s win, with confidence in a more crypto-friendly environment growing,” she stated.

Greg Magadini, director of derivatives at Amberdata, provided additional insights, referencing Deribit’s options market data. “Dealer positioning suggests $BTC could settle between $80,000 and $90,000 by year-end,” Magadini noted, although he added that the chance of hitting $100,000 by year-end is currently priced at just 7%.

#BinanceSquareBTC #CryptoPricePrediction

🔥🔥🔥 #bitcoin☀️ Loses $2 Billion in Market Cap: Key Drivers Behind the Drop

Bitcoin’s open interest (#OI ) has dropped by a notable $2 billion as traders brace for potential volatility ahead of the U.S. election. This sharp decline in OI suggests that many participants are closing out both long and short positions to sidestep potential market turbulence tied to political developments.

Such a decrease in open interest typically signals that traders are stepping back, waiting to re-enter after the election uncertainty clears. Adding to the cautious atmosphere is a recent reduction in whale activity; major whale transactions have noticeably dropped since October 29, when whales collectively profited by 72,000 $BTC .

It’s often misunderstood that a decline in whale activity equates to falling prices. In reality, whales may simply be holding back, carefully observing market sentiment around the election before making any significant moves. Known for their strategic approach, whales often allow retail traders’ reactions to shape the market before jumping in, which can then lead to heightened volatility. Historically, a spike in whale transactions tends to precede price reversals, while their inactivity usually points to looming volatility.

In essence, whales seem to be in a “wait-and-see” mode, likely watching to gauge retail traders’ responses to the election results. By holding off on large trades, whales are potentially keeping volatility in check until a clear market direction emerges.

With expected post-election #Volatility on the horizon, traders should remain vigilant for substantial price swings in either direction. This “calm-before-the-storm” scenario suggests that major players are positioning themselves to capitalize on any major price movements triggered by political and economic shifts. As usual, those closely tracking whale activity may catch early signals of the market’s next move.

#BinanceSquareBTC #CryptoMarketWatch

💥💥💥 #Dogecoin‬⁩ Set for Potential Rally? Analyst Predicts Second Flag Breakout to $0.162

Dogecoin Primed for Breakout as Crypto Market Rebounds

- With #bitcoin☀️ rebounding above $69,000, meme tokens like Dogecoin (DOGE) are at a crucial juncture for potential gains. Following a 40.89% surge to $0.1797 in late October, $DOGE has since pulled back to $0.1420, forming a second bullish flag pattern on the 4-hour chart and rebounding to $0.1515, marking a 6.62% recovery from recent lows.

Technical Indicators Suggest Upside Potential

- DOGE's technicals hint at a bullish breakout within the second flag pattern, with the #MACD indicating a possible crossover and weakening bearish histograms suggesting rising momentum. Currently, DOGE is testing its resistance trendline near the 50% Fibonacci level around $0.15, with key support at $0.1454 and $0.1386.

Analyst Prediction and Key Levels

- Crypto analyst Ali Martinez noted a TD Sequential buy signal, projecting a rally to $0.162 if DOGE holds above $0.141. A breakout past resistance could push DOGE to $0.1742, a level watched closely by investors.

In summary, if DOGE holds key support and breaks resistance, it could rally toward $0.1742, riding the broader market's recovery momentum.

#CryptoNewsCommunity #BinanceSquareBTC

💥💥💥 #bitcoin☀️ Bounces Back Above $69K, Then Slides to $68K: What's Next?

Bitcoin ($BTC ) has experienced significant volatility over the past few days, rebounding above $69K this morning before retreating back to around $68,991.46. This current price reflects a 1.86% increase over the past week, with a 24-hour market volume of $34.83 billion, marking a substantial 77.24% rise.

The fluctuations in Bitcoin's price can be largely attributed to the fiercely contested U.S. presidential race in key swing states. This political uncertainty has driven the Bitcoin volatility index to its highest level since late July. According to TradingView, Deribit’s Bitcoin implied volatility index (DVOL) has surged to an annualized 63.24%, also the highest since late July.

Additionally, Bitcoin’s seven-day implied volatility has spiked to an annualized 74.4%, exceeding the seven-day realized volatility of 41.4%. This increase in implied volatility is closely tied to the upcoming Federal Reserve meeting on Thursday and the anticipated election results on Friday.

Earlier this week, BTC nearly touched its all-time high, climbing to $73,500 on Tuesday, buoyed by Polymarket showing a 66% probability of Donald Trump winning. However, since then, both Trump’s odds and Bitcoin’s price have retracted, with Trump’s winning probability dropping to 55% and Bitcoin falling below $68,000 early today. According to market predictions by Polymarket, Trump’s winning odds fell from 66% to 62% on October 31 and further to 53% on November 3.

#CryptoTrends2024 #BinanceSquareBTC #CryptoMarkets

💥💥💥 #BitcoinETF💰💰💰 Movements: #BlackRock⁩ Gains, Grayscale Loses, #Fidelity and Ark Show Mixed Trends

Bitcoin ETF Market Update: BlackRock Leads, Grayscale Faces Outflows

- As of October 30, Bitcoin ETFs have shown varied performances. Cumulative inflows stand at $24.18 billion, with total net assets reaching $72.46 billion, representing 5.03% of Bitcoin’s market cap at a $72,760 BTC price.

Top Performers

1. BlackRock's IBIT on NASDAQ leads with a $872M daily net inflow, totaling $25.82B in cumulative inflows and $30.86B in assets, despite a slight 0.06% discount.

2. Fidelity’s FBTC on the CBOE recorded $12.57M in daily inflows, reaching $10.57B cumulatively, with net assets at $13.56B.

Grayscale's GBTC Sees Outflows

- Grayscale’s GBTC, listed on the NYSE, faced $20.13B in cumulative outflows with no new daily inflows, but it retains $15.82B in assets, showing continued trading interest.

Additional Highlights

1. Ark Invest’s ARKB: $7.18M in daily inflows, $3.62B in assets.

2. Bitwise’s BITB: $23.89M outflow with $3.06B in assets.

3. VanEck’s HODL: $4.07M inflow, $945.67M in assets.

4. Valkyrie’s BRRR: $6.11M inflow, $659.11M in assets.

Stable ETFs like Franklin’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI saw no new inflows but held solid asset values. BlackRock’s IBIT leads, while Fidelity, Ark Invest, and Grayscale sustain strong market interest.

#BinanceSquareBTC #CryptoMarketTrend

💥💥💥 #bitcoin☀️ Pauses at $71K While Cardano Gains 6%: Weekend #MarketWatch

Bitcoin’s price recovery took it up to $71,500 yesterday, but bears stepped in at that level, pulling it back down by roughly $2,000.

BTC Halted at $71.5K

- Earlier in the week, Bitcoin started strong, surging past $70,000 on Tuesday and reaching a multi-month high of $73,600, just shy of breaking its all-time high of $73,740 from March. However, the rally lost steam as Bitcoin gradually declined. The most significant drop occurred on Friday morning, with BTC dipping below $69,000, losing about $3,000 within hours.

- Following the release of a weaker-than-expected U.S. jobs report for October, Bitcoin rebounded to $71,500 but once again faced resistance and now sits about $2,000 lower. This dip has brought its market cap down to $1.375 trillion, with BTC’s dominance over altcoins still holding strong at over 56%.

$ADA Outperforms Among Altcoins

- Most major altcoins have shown minimal movement today. While $ETH , $BNB , SOL, XRP, TRX, AVAX, and LINK are down by about 1-2%, DOGE, SHIB, and TON have posted slight gains. Cardano (ADA), however, has defied the trend, rising by 6% and trading above $0.35.

Other notable gainers include RAY (+14%), XMR (+5%), and MEW (+5%).

Overall, the total crypto market cap remains stable at just under $2.450 trillion.

#BinanceSquareBTC #CryptoMarketTrend #CardanoMagic

💥💥💥 #bitcoindip Sparks $78K Target Prediction: Can $BTC Reach This Milestone?

The crypto market has seen a 5.68% drop today, falling from a peak of $2.418 trillion on Tuesday to $2.28 trillion. Amid this decline, Bitcoin has revisited the $69,300 level.

Bitcoin has dropped 5.84% from its 7-day high of $73,600, initiating a corrective rally. With Bitcoin hovering above the $68,000 threshold, will the leading crypto dip below this key level?

Bitcoin Tests Critical 4-Hour Support Level

- On the 4-hour chart, Bitcoin’s recent pullback tests a crucial support trendline within a rising channel pattern.

- This #BEARISH📉 correction began with a double-top pattern near $72,700, facing rejection above the $73,000 level. The neckline of this bearish pattern established itself at $71,600. After breaking through, Bitcoin returned to the support trendline, which aligns with the 38.20% Fibonacci retracement level, signaling a potential bullish reversal.

- For a sustained recovery, Bitcoin must break through the 50% Fibonacci level at $70,310. If successful, Bitcoin could challenge the $72,700 double-top peak. However, if Bitcoin falls below this support line, it could trigger a more substantial sell-off.
Key support levels to monitor in case of further decline are $67,500 and $65,000.

Analyst Ali Martinez Sets $78K Target

- Crypto analyst #AliMartinez remains optimistic despite the pullback, recently reiterating his analysis predicting a minor correction to $69,000. Martinez suggests that if Bitcoin stays above $65,000, a surge to $72,000 remains likely.

- He further forecasts that after a pullback to $69,000, Bitcoin could see an upward move toward $78,000. The 4-hour chart’s Fibonacci levels suggest the next all-time high around $75,620, with an extended rally potentially targeting $82,183, aligning with the 161.80% Fibonacci level.

#BinanceSquareBTC #CryptoMarketTrend

👉👉👉 Market Pullback? #BlackRock⁩ Bitcoin ETF Nets $318M Inflows

BlackRock’s spot Bitcoin ETF, the IBIT fund, remains a top choice among financial investors, drawing approximately $318 million in net inflows on October 31, even as Bitcoin's price slipped by 4% to $68,800.

This influx follows #IBIT ’s impressive performance on October 30, when it recorded $875 million in inflows, surpassing its previous high of $849 million. Weekly inflows for the fund now exceed $2 billion, according to Farside Investors data.

Meanwhile, Valkyrie’s BRRR fund saw nearly $2 million in new inflows on Thursday, contrasting with other ETFs that experienced notable redemptions. Fidelity’s FBTC ETF, for example, ended its two-week positive run with over $75 million in net outflows. Collectively, ETFs from ARK Invest/21Shares, Bitwise, VanEck, and Grayscale faced $213 million in redemptions.

Despite the varied performances, IBIT’s large inflows have helped US spot #BitcoinETFs maintain a positive trend, bringing in more than $30 million in new investments and marking the sector’s seventh consecutive day of net inflows.

Since its launch, IBIT has accumulated nearly $30 billion in assets, with half of that collected in the last month alone. Total Bitcoin held by US spot ETFs has now topped 1 million. Bloomberg ETF analyst Eric Balchunas noted that IBIT attracted more investor capital in the past week than any other ETF, surpassing long-standing funds like VOO, IVV, and AGG, all within less than ten months of launching.

#CryptoMarkets #BinanceSquareBTC

🔥🔥🔥 Catch the $PEPE Bull Run? Analysts Forecast 300% Rally!

PEPE's trading volume recently jumped by 14%, sparking bullish sentiment and renewed investor interest. A massive transaction by a whale, moving 1.2 trillion PEPE tokens, has further fueled optimism for price growth, with experts eyeing a potential 300% midterm rally if current momentum holds.

Surge in Trading Volume Boosts Market Optimism

- In the past 24 hours, PEPE’s trading volume rose 14.13% to reach $791.15 million, inspiring fresh enthusiasm among buyers looking to capitalize on the recent price dip. This accumulation could set the stage for a significant rally, with PEPE possibly “knocking off a zero” from its price if momentum remains strong.

Whale Activity Sparks Anticipation

- On October 28, a whale transferred 1.2 trillion PEPE tokens (worth around $11.5 million), catching the market’s attention. Large transactions like this often signal heightened investor interest, hinting at potential price shifts as #Bitcoin’s influence lifts sentiment across the crypto market. For PEPE, this major transfer adds confidence and hints at a promising midterm rise.

- With rising volume and notable whale moves, PEPE appears well-positioned for a rally that could reach the predicted 300%. For investors watching closely, this could be the opportunity to join PEPE’s next big move.

#CryptoMarketTrend #BinanceSquareBTC #CryptoNewsCommunity #PepePricePrediction

🚀🚀🚀 $BTC Price Hits $100K in #Canada : What’s Driving the Surge?

Bitcoin has surpassed C$100,000 for the first time, as reported by the Kraken exchange. This milestone comes as the Canadian dollar recently weakened against the U.S. dollar, following a 50-basis point rate cut by the Bank of Canada on October 23, bringing its value to 72 cents USD. Bitcoin's previous record in Canadian dollars, C$98,462, was set in March.

While #bitcoin☀️ reached a new peak of $72,692 on Bitstamp today, it has yet to hit an all-time high in U.S. dollars, remaining 1.5% below its previous peak. The #cryptocurrency’s record high of $73,737 was reached earlier this year amid excitement surrounding the launch of Bitcoin ETFs.

#BitcoinTrends #BinanceSquareBTC

👉👉👉 There may be one last chance to buy $BTC at ‘bargain’ prices: Rekt Capital

Investors may have a limited two-week window to seize a potential "bargain-buying" opportunity for Bitcoin before a pre-halving rally kicks off in February, according to pseudonymous trader Rekt Capital. In a post to their 349,000 followers on X, Rekt Capital outlined five stages of market action around the Bitcoin halving, which is scheduled for April. Previous halvings have seen a significant dip in the months before, offering favorable returns for investors. Rekt Capital suggests that Bitcoin's recent 18% retrace in January indicates a potential two-week period for another significant pullback, presenting a final opportunity before the pre-halving rally begins.

The pre-halving rally, occurring roughly 60 days before the halving event, involves short-term traders attempting to "buy the hype" before later "selling the news" around the time of the actual halving. Following the halving, there tends to be a period of sideways price action lasting around 150 days, with many investors being "shaken out" due to disappointment. Finally, Bitcoin enters the "parabolic uptrend" phase, experiencing accelerated growth after months of accumulation.

While Rekt Capital emphasizes the halving as a pivotal factor for Bitcoin's price action, not all market participants agree. Some experts argue that the halving is becoming less useful as a metric for judging #price action. Swan Bitcoin's chief investment officer, Ralph Zagury, suggests that "#liquidity " rather than the halving will play a more integral role in impacting Bitcoin's price in 2024. Zagury emphasizes that market flows are the driving force, stating that the halving, by definition, should not inherently impact price.

Please note that this information is based on the analysis and views of Rekt Capital, and opinions may vary within the crypto community.

Source - cointelegraph.com

#CryptoNews #BinanceSquareBTC

👉👉👉 #Ethereum Price Drops Over 10% But Bulls Are Not Done Yet

Ethereum surged towards $3,850 but faced a sharp downturn afterward, echoing Bitcoin's movements. However, #bullish activity near the $3,350 support zone has emerged.

Initially, Ethereum soared to a new multi-month peak surpassing $3,800, following Bitcoin's trajectory. #Bitcoin‬ reached a historic high above $69,000. Ethereum similarly breached the $3,800 mark before encountering selling pressure.

The downturn was significant, with the price plummeting over $500 and approaching the $3,200 support level. A crucial bullish trend line, previously offering support around $3,620, was breached on the hourly chart of ETH/USD.

A low was established near $3,211, but the price is now striving for a recovery. It has climbed back above $3,500, trading close to the 100-hourly Simple Moving Average.

Resistance on the upside is initially anticipated near the $3,550 level, followed by a major hurdle near $3,600 or the 61.8% Fib retracement level of the recent downward move. Subsequent significant resistance awaits near $3,680, which could potentially trigger bullish momentum towards $3,820.

If Ethereum successfully breaches the $3,820 resistance, it may aim for the $3,950 level, with further gains potentially leading to a test of $4,000.

Conversely, failure to surpass the $3,600 resistance could prompt another downward correction. Initial support is anticipated around $3,440, followed by a more substantial level near $3,400. Further downside could see Ethereum testing the $3,340 zone, with a clear breach potentially leading to a decline towards $3,220 or even $3,120.

Looking at technical indicators, the hourly MACD for ETH/USD is displaying a loss in bullish momentum, while the hourly RSI has dipped below the 50 level.

In summary, Ethereum's recent volatility and price movements indicate a precarious balance between bullish and bearish sentiment, with critical support and resistance levels shaping its trajectory.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC $ETH $BTC

👉👉👉 #cardano Founder Charles Hoskinson Questions $ADA 's Absence From #grayscale Staking Fund

Cardano founder Charles Hoskinson recently expressed his surprise and disappointment regarding Grayscale's Dynamic Income Fund (GDIF) and its exclusion of Cardano (ADA) from its initial selection of assets. Grayscale, renowned for its #BitcoinETF and crypto investment offerings, introduced GDIF as its first actively managed fund, aiming to capitalize on the growing trend of crypto staking.

GDIF was launched to hold assets from nine blockchains initially, including Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL). The fund aims to distribute rewards in U.S. dollars quarterly, providing investors with exposure to multi-asset staking through a single investment vehicle.

However, Hoskinson's disappointment stemmed from the absence of ADA in GDIF's portfolio. His response to Grayscale's announcement on X was a simple "No ADA?" highlighting the importance of Cardano's staking mechanism in the blockchain ecosystem. Unlike Bitcoin's proof-of-work model, Cardano operates on a proof-of-stake consensus mechanism, where token holders can stake their assets to support network operations and validate transactions, earning rewards in return.
Despite Cardano's renowned staking option, Grayscale chose not to include ADA in their unique crypto fund, GDIF. However, it's worth noting that Grayscale has shown significant interest in ADA by considering it for two of its other funds.

For instance, Grayscale's GDLC fund includes a portion allocated to Cardano, alongside major cryptocurrencies like Bitcoin and Ethereum. Additionally, Grayscale's GSCPxE Fund holds a significant share in Cardano within its portfolio, alongside other prominent cryptocurrencies like Solana, Avalanche, Polkadot, Polygon, and Cosmos.

Source - coingape.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC

🔥🔥🔥 Bitcoin Expected To Mirror Historical Trends: Glassnode Sets $120K Price Prediction For 2024

Bitcoin (#BTC🔥🔥 ), the leading #cryptocurrency , has experienced a notable downturn of 9% in the last fourteen days, primarily attributed to diminishing excitement around exchange-traded funds (#ETFs ). Despite this, Glassnode co-founders express optimism, suggesting that the recent price corrections align with historical patterns and may propel Bitcoin to nearly double its current all-time high (ATH) of $69,000.

In their latest analysis shared on social media platform X (formerly Twitter), the co-founders of blockchain analytics firm Glassnode point to Bitcoin's movement to the 6.618 Fibonacci Extension after a Bull Flag Correction. Drawing parallels between the current correction and market conditions in late 2017 and 2020, they raise the possibility of history repeating itself in 2024, potentially pushing Bitcoin to a target of around $120,000.

The analysis references a comparable price correction following Bitcoin's breakout above the $10,000 level, initiating a bull trend that led to a $15,000 increase and the ATH of $69,000. Similarly, after surpassing the $29,000 level, Bitcoin displayed a bull flag pattern, reaching a 22-month high of $48,900 on January 11. This surge coincided with the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC).

Bitcoin's future trajectory depends on maintaining support around $40,000 and consolidating above it. Glassnode co-founders suggest potential for a $120,000 price if these conditions persist. Analyst Crypto Con relies on historical patterns, anticipating new Bitcoin highs after November 28, 2024, with projected prices of $90,000 or $130,000. Currently, BTC trades at $40,590, down 2.5% in the past 24 hours, with potential support at $37,650 if breached.

Source - newsbtc.com

#CryptoNews $BTC #BinanceSquareBTC

#Bitcoinprice Consolidates Losses But Recovery Could Face Hurdles

Bitcoin's price continued its descent below the critical $65,000 support zone, signaling a further downturn. Currently, BTC is consolidating its losses and may attempt a recovery towards the $67,000 level.

The decline saw Bitcoin slipping below key support levels at $65,500 and $65,000, eventually testing the $64,500 region. At its lowest point, Bitcoin traded near $64,572 before showing signs of consolidation. While there was a minor uptick above $65,000, the price is still trading below $67,500 and the 100 hourly Simple Moving Average.

On the hourly chart of the #btc/usd pair, a notable bearish trend line is forming with resistance around $67,200. This trend line represents a significant barrier for any potential recovery efforts.

Near-term resistance levels include $66,000 and the key level at $67,200, aligned with a trend line. A decisive move above this zone could trigger an uptrend towards $67,950, the 50% Fibonacci retracement level. Further resistance is at $68,500, potentially pushing Bitcoin towards $70,000.

However, if Bitcoin fails to breach the $67,200 resistance, a continuation of the downtrend is likely. Immediate support awaits at $65,200, followed by the crucial level at $64,500. A close below $64,000 might intensify selling pressure, pushing Bitcoin towards the $62,500 support zone, with further downside risk towards $60,500.

Key technical indicators suggest a bearish sentiment, with the hourly MACD losing momentum in the bearish zone, and the hourly RSI dipping below the 50 level, indicating weakening bullish momentum.

In summary, Bitcoin faces significant resistance near $67,200, and a failure to overcome this level could lead to further losses, targeting support levels at $65,200 and $64,500. Conversely, a successful breakout above $67,200 could pave the way for a bullish recovery towards $70,000.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency $BTC

🚨#BTCUSDT
both entry hit
SL at break even
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$BTC
#BTC #crypto2023 #BTC🔥🔥 #BinanceSquareBTC

🔥🔥🔥 #bitcoinpump prompts ‘#emergency ’ review of US #cryptominer energy use

Starting next week, the United States Department of Energy (DOE) is set to collect data on the energy consumption of U.S. crypto miners for the next six months. This initiative comes in response to concerns about a recent surge in Bitcoin's price, currently at $42,135, leading to an increased interest in crypto mining.

The U.S. Energy Information Administration (EIA) has initiated a survey to evaluate the electricity consumption of domestic crypto mining companies, requiring miners to disclose their energy usage details.

The Office of Management and Budget approved an emergency request from the EIA for a survey on crypto mining. The request, citing Bitcoin's recent 50% price surge, suggests that increased mining activity due to higher prices could lead to elevated electricity consumption.

Bitcoin's rise, as per Cointelegraph Markets Pro, was slightly over 18.5% in the three months leading up to January 24.

The Energy Information Administration (EIA) plans to collect public comments on crypto miners' energy usage. The survey aims to understand the evolving energy demand for cryptocurrency mining, identify areas of high growth, and quantify the sources of electricity used for meeting this demand.

The U.S. government is actively monitoring the crypto mining industry, prompted by a surge in mining activities following China's ban in 2021. Congressional hearings in 2022 raised concerns about energy consumption and emissions, leading to a call for the Environmental Protection Agency (EPA) to investigate the environmental impact of crypto mining in early 2023.

U.S. President Joe Biden proposed a 30% incremental tax on crypto miners' electricity costs last year to reduce mining activity in the country.

In 2021, global Bitcoin miners used a record 121.13 terawatt-hours of electricity, surpassing Belgium's 2022 consumption of 93.8 terawatt-hours. The IEA anticipates mining consumption to hit 160 terawatt-hours by 2026.

Source - cointelegraph.com

#CryptoNews #BinanceSquareBTC

🛑🛑🛑 BTC UPDATE

Hey everyone! $BTC  just dropped like I said it would! 📉 But if you've been following, you were ready. That's how our analysis works! 🔍✨

🥳 Good news! If you listened, you're safe. We saw this coming and acted early. That's what our community is about - being prepared. 🚀

Remember when I mentioned the drop with BTC at $67,300? Now it's at $63,000! 😂🔥 It's not magic, just smart analysis. No one else gives you this insight. I dare you to find it! 🤝

👀 BTC is at $63,000 now, testing support. If it breaks, we might see $61,500 - $60,500. Stay alert! 🛡️

We've been right so far. Stick with us, and let's handle this volatility like pros. Together, we're strong! 🔥🚀

Stay tuned for more updates. In this community, we watch out for each other and stay ahead! 🌐💪

#HotTrends  #BTC  #TrendingTopic  #BinanceSquareBTC  #Write2Eam

🚀🚀🚀 #Bitcoin‬ Shoots Above $73K, Tumbles to $69K, Rebounds to $71K, Triggering $360M in Crypto Liquidations

The #cryptocurrency market experienced a sudden surge in volatility on Tuesday, with Bitcoin (BTC) reaching a record high above $73,000 before swiftly declining by nearly 6%. Despite this dip, Bitcoin managed a modest rebound.

As of the latest update, Bitcoin was trading at $71,150, marking a 2% decrease over the past 24 hours, which still outperformed the 3% drop seen in the CoinDesk 20 Index (CD20).

Ether ($ETH ) also saw a 2% decline, while Ripple ($XRP ), Dogecoin, and Litecoin ($LTC ) experienced more significant tumbles, ranging from 6% to 8%.

Among the CoinDesk 20 constituents, Avalanche's native token (AVAX) stood out as the sole notable gainer, surging by 15% for the day.

The heightened volatility led to the liquidation of over $360 million worth of leveraged derivatives positions across all cryptocurrencies, predominantly impacting long positions speculating on price increases, according to CoinGlass data. This marked the largest liquidation event for long positions since the correction on March 5.

In a market update on Tuesday, crypto investment services firm Matrixport highlighted signs of waning momentum in Bitcoin's rally.

The report pointed out a divergence between Bitcoin's high prices and a declining Relative Strength Index (RSI), a popular momentum indicator based on the velocity and magnitude of price changes.

Matrixport analysts suggest a consolidation phase for Bitcoin despite bullish sentiment, noting a discrepancy between decreasing RSI and high prices. The $69,000 level could serve as short-term support. U.S. inflation data for February exceeded expectations, potentially affecting Fed rate decisions. Aurelie Barthere of Nansen.ai downplays the impact on cryptocurrencies, expecting #bullish momentum to outweigh short-term factors and Fed rate cut expectations to remain intact.

Source - coindesk.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC