The release of an Ethereum ETF will deal a major blow to Bitcoin's dominance

The analyst, who goes by the pseudonym Hedgex.eth, believes that the release of an Ethereum ETF will deal a major blow to Bitcoin's dominance.

Bitcoin] will reach new highs during this cycle, but many will be disappointed by the peak at $100,000. Ethereum has great upside potential thanks to catalysts including ETFs. Bitcoin's dominance will suffer greatly. The level of capitalization of all cryptocurrencies will increase significantly, wrote Hedgex.eth.

Last year, Bitcoin's share of the digital asset market increased from 41.3% to 53.5%. When the coin fell in price by 1% from January 1, 2024, Bitcoin's dominance decreased by only 1%. However, Hedgex.eth predicts a significant drop in this indicator after the launch of Ethereum-ETF trading.

The expert predicts an increase in the Bitcoin rate; accordingly, it becomes obvious that ETH will win back positions from the first cryptocurrency due to a higher rate of price increase. This trend has already emerged, because from January 10 to January 12, Ethereum rose in price by 25% relative to Bitcoin and maintained its position.

#BitcoinWorld #Ethereum2024 #btc- #ETH2024 #ETH/USDT
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CryptoSlate: Bitcoin investors sold $5 billion worth of assets in two days

Over the past few days, the total volume of sales by so-called short-term investors amounted to about 111,000 bitcoins, which is close to $5 billion at current prices for the asset.

After the debut of trading in Bitcoin spot ETFs and a short-term increase in the value of the asset, further price action and the fall of the first cryptocurrency by capitalization from $49,000 to a level close to $41,000 caused panic among “both long and short traders,” says CryptoSlate analyst James Van Straten (James Van Straten). Bitcoin speculators began to actively close their positions, despite possible losses.
#BitcoinWorld #Bitcoin-BTC #BTC!💰 #BTCUSD #btc-
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Minus instead of plus: initial results of trading in spot ETFs

The anticipation of the emergence of spot ETFs has been exciting the crypto industry for almost six months. On January 10, a significant event did happen. And what has changed?
Firstly, there is no talk of any Bitcoin rally. Moreover, by Sunday, January 14, BTC had already dropped below $43,000. While on January 11, at some point, it climbed above $49,000.
Secondly, the value of the shares of the ETFs themselves, like a carbon copy, first grew and then fell sharply. Undoubtedly, BlackRock, Fidelity, Valkyrie and other investment companies that stand behind the funds did not lose out. What about investors?
It is premature to say that ETFs have not lived up to, or better yet will not live up to, expectations. The fall and rise in value are natural processes with free pricing. One way or another, cryptocurrency occupies an increasingly larger place in people’s lives every year, and spot ETFs give large investors a new opportunity to invest (not directly) in digital assets.
#BTCUSD #btc- #ETF: #etf #ETFsApproval
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After acquiring another $380 million worth of Bitcoin, Tether holds $2.8 billion worth of BTC

At the end of the last quarter, stablecoin issuer Tether bought another $380 million worth of bitcoins, bringing the organization's total assets to 66,465 BTC ($2.8 billion).

Tether began accumulating Bitcoin in September 2022, starting with the acquisition of 33,980 BTC. Since then, the firm has regularly replenished its bitcoin reserves every quarter. The second largest purchase occurred in March 2023, in which the organization took possession of 15,915 BTC. According to blockchain data, the latest purchase of 8,888 BTC, made at the end of the fourth quarter of 2023, was the third largest purchase for Tether.

Tether first disclosed its Bitcoin reserves in May 2023 as part of its Q1 attestation report. Last August, 21.co analyst Tom Wang identified an address believed to belong to Tether. If this assumption is correct, the company should be considered the 11th largest holder of Bitcoin.
#btc- #BTC!💰 #btcusdt #BTCUSD #BitcoinWorld
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Chinese Actively Buy Up Bitcoin in 2024

In 2024, the Chinese will continue to actively buy up bitcoins, despite the current ban on cryptocurrency trading in the PRC.

According to the research company Chainalysis, last year the demand for digital assets skyrocketed in mainland China. Residents of the country carried out peer-to-peer transactions in virtual currencies in the amount of $86.4 billion, due to which China rose from 144th to 13th place in the ranking of countries by the volume of transactions made.
Over the past three years, a bearish trend has dominated the Chinese stock market, and therefore investors prefer to invest in digital assets instead of securities.
#btc- #BTCUSD #btcusdt
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This altcoin grew 100x in less than 24 hours

The price of the project's native token SatoshiVM (SAVM) has increased more than 100 times, bringing significant profits to early investors.

The creators describe SAVM as “the first EVM-compatible protocol on BTC.” This is a layer 2 solution for the Bitcoin blockchain using rollups with zero-knowledge (ZK) proof.

The launch of the SAVM token took place on January 18. According to Bounce Brand, 23,487 people took part, with random winners receiving SAVM and ILO winners receiving ETH.

After the launch, the price of the altcoin rose sharply and reached almost $15. This was facilitated by the support of various crypto-influencers who promoted the project in their communities.

#btc- #BTC!💰 #Satoshi

Ali Martinez: “Bitcoin miners are massively selling off crypto assets”

Ali Martinez referred to data from the Crypto Quant analytical platform. Significant selling pressure for digital assets is being seen on major cryptocurrency exchanges as Bitcoin miners try to lock in profits in a down market.

The Bitcoin market has been undergoing a correction since the beginning of 2024 and has already experienced two sharp and significant price declines. The first happened on January 3, when BTS lost about $60 billion in capitalization in one day, and the second happened shortly after the launch of EFT on Bitcoin. Then, after briefly testing the level of $49,000, the rate immediately collapsed to levels close to $42,000.

On the evening of Wednesday, January 17, the first cryptocurrency by capitalization was offered for purchase for approximately $42,469. In the last 24 hours, the cost of BTC decreased by 1.22%. On the weekly timeframe, the decrease in market value was about 5%.

Analysts at CryptoSlate reported that in the first ten days of January, the sales volume of so-called short-term investors amounted to about 111,000 bitcoins, which is close to $5 billion.

#btc- #BTC!💰 #BTCUSD #BTCUSDT.P #BitcoinWorld
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Experts point out the risks of spot ETFs for Bitcoin

Spot Bitcoin ETFs have opened a channel for the influx of large capital into the industry, but also created new risks.
Traditional financial practices can pose a threat to the ecosystem of the first cryptocurrency.
TradeFi players may try to influence the development of the network, but this is unlikely.
The SEC's approval of spot Bitcoin ETFs in January was a welcome development. But the arrival of large financial players in the industry carries a number of risks for cryptocurrency, writes The Block.

One of the most obvious problems that industry experts have noticed is the concentration of storage of bitcoins owned by funds.

#BTC!💰 #btc- #BTCUSD #btcusdt #BitcoinWorld
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The price of Bitcoin dropped below $40 thousand for the first time.
Bitcoin began to cost below $40 thousand for the first time since December 3.

The price of Bitcoin fell below $40 thousand for the first time since the beginning of December. TASS reports this, citing data from the Coindesk platform.

During the last trading session, the price of Bitcoin decreased by 4.34% and amounted to $39.859 thousand.

After some time, Bitcoin was able to grow slightly - to $39,908 thousand.

The last time Bitcoin was worth less than $40 thousand was December 3 last year.

Earlier it was reported that the price of Bitcoin exceeded $49 thousand for the first time since December 2021.

#btc- #BTCUSD #btcusdt #BitcoinWorld #Bitcoin-BTC
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Bitcoin hashrate plummets 35% amid frost in Texas

Back on January 13, the network hashrate of the first cryptocurrency reached 670 EH/s, but currently the figure has dropped to 402 EH/s. This is mainly due to the shutdown of mining equipment in the American state of Texas - frosts lead to an increase in energy consumption for heating, so miners turn off the devices. The Energy Stability Council of Texas (ERCOT) issues guidance. However, miners will subsequently be compensated for losses incurred.

“Many Bitcoin miners in Texas, including Marathon, have shut down operations in the last few days to support the state's energy grid and citizens due to the cold weather. After all, miners, among other things, are a technological solution for energy workers. If necessary, the load can be reduced in a matter of minutes to free up capacity for other consumers. That’s what we’re seeing,” said Marathon Vice President of Corporate Communications Charlie Schumacher.

Let us recall that at the end of 2022, Bitcoin’s hashrate fell by more than a third due to a snow storm in the United States.

#BitcoinPrice2024 #BitcoinWorld #BTCUSD #BTC!💰 #btc-
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Bitfinex analysts predict further Bitcoin drop

“We anticipate a further substantial market correction with critical support levels for Bitcoin at $38,000 and $36,000,” the experts write.
In their opinion, such levels are key in assessing the short-term stability of the Bitcoin market.
The company said that a significant decline in unrealized profits occurred at the end of last week, especially among short-term holders. This trend could contribute to a potential increase in sell-off pressure, especially among recent buyers.
#Bitcoin. #Bitcoin #btc- #BTCUSD #btcusdt
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Analysts pointed to the risks of Bitcoin correction to $38,000

The discrepancy between the price and the RSI indicator may indicate the risks of Bitcoin’s further slide towards the dynamic support at $38,000. This conclusion was reached by 10x Research, writes CoinDesk.

After the approval of spot Bitcoin ETFs, quotes fell by 5% to $42,600, confirming the classic “sell after the fact,” experts noted.

This was preceded by a rise to a two-year high near $49,000, which was not accompanied by similar dynamics in the 14-day RSI. The subsequent fall in price confirmed the bearish divergence, experts noted.

The MACD histogram dropped below zero, signaling a bearish momentum shift, analysts said.

Experts noted the impact on the price of capital flows from GBTC, which provides a 1.5% management fee, to competing instruments with more attractive conditions.

#Bitcoin-BTC #BitcoinWorld #BTC!💰 #BTCUSD #btc-
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Arthur Hayes predicted Bitcoin would fall below $40,000

The first cryptocurrency will fall below the $40,000 level, and the fall will continue until January 31, when the US Treasury announces its quarterly borrowing plan. This forecast was given by ex-CEO of BitMEX Arthur Hayes.

“Bitcoin looks crazy heavy,” he commented.

#btc- #Bitcoin. #bitcoincash #BTCUSD #BitcoinWorld
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Kiarash Hosseinpour: “In the first half of 2024, the crypto market expects a massive sell-off of bitcoins”

Kiarash Hossainpour drew the attention of followers on the X social network to an important development: since the launch of the Bitcoin spot ETF, the assets of the Grayscale Bitcoin Trust (GBTC) have decreased from 621,000 BTC to just under 580,000 BTC and, most likely, the fund will continue to sell off. This will be facilitated by the trust's higher annual commission of 1.5%, which competitors such as Bitwise (0.2%) and BlackRock (0.25%) do not have.

The expert believes that another sign of a future sell-off could be the distribution of assets of the notorious cryptocurrency exchange Mt.Gox, which is obliged to return about 138,000 BTC to creditors (at current prices = about $6 billion).
In addition, the bankruptcy proceedings of Celsius and FTX are expected to be completed in the first half of 2024. About 38,000 BTC worth $1.6 billion from Celsius and about 20,500 BTC worth $850 million from former investors of both crypto companies could be released into the crypto spot market.

#ftx #Celsius #btc- #BTCUSD #etf
$BTC

“ETF hangover”: Bitcoin showed the worst growth dynamics in a month

Bitcoin showed its worst growth streak in a month since the storm of expectations for the approval of new exchange-traded funds for the largest digital asset died down, Bloomberg writes.

The token is little changed at $42,655 after falling for 3 straight days through Sunday, marking its longest losing streak since mid-December.

The new BTC ETFs began trading on January 11th. Bitcoin briefly peaked above $49,000 after the funds were launched, but then began to retreat.

The reason for BTC's possible fall is that the launch of the first spot ETFs in the US has increased investors' access to the cryptocurrency, after which they will be wary of wider adoption of the token despite a partial recovery in its market last year.

— Bloomberg materials were used in preparation
#btc- #BTCUSD #BTC!💰 #BitcoinWorld #BitcoinPrice2024
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A wallet with one bitcoin burned in the Earth's atmosphere

The mission, organized by the BitMEX cryptocurrency exchange, had an ambitious goal - to deliver the main financial crypto asset to the surface of the Earth's natural satellite for the first time. On board the lunar lander was a cold crypto wallet weighing 43 grams with 1 BTC. The module was printed with text from the genesis block of Bitcoin - as the authors of the idea explain, a tribute to the creator of the first cryptocurrency, Satoshi Nakamoto.

However, from its very first hours, Peregrine faced problems. Launched into space ten days ago, the device immediately began to have difficulty maintaining its orientation to the Sun, which was necessary to charge the on-board batteries. Astrobotic engineers discovered a fuel leak in the module's propulsion system, but it was too late. The American space agency recommended that the mission team burn the unit in the atmosphere. Astrobotic reported that Peregrine eventually burned almost completely, and the remains fell somewhere in the South Pacific Ocean. In total, the lunar module was able to fly away from the Earth’s surface only 50,000 km.
#Bitcoin-BTC #BTCUSD #BTCUSD #btc-
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BitRiver made a forecast of the cost of Bitcoin mining after halving

The CEO and founder of BitRiver, Igor Runets, believes that now the cost of mining one Bitcoin in the Russian Federation is approximately $15,000. According to him, in the United States the price of bitcoin mining averages $23,000. As demand increases and transaction fees increase, the cost of mining in the Russian Federation after halving will reach $24,000, and in the USA - $37,000.

Russian industrial miners have some advantages over Americans, the businessman is sure. The advantages include climatic conditions, a large amount of free capacity, and low prices for electrical energy. To maintain an advantage, you will have to use newer equipment, introduce innovations into production facilities, and invest in personnel.

#Russian #RussianExports #USA #BitcoinWorld #btc-
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Van de Poppe advises buying bitcoins at a price of $36,000-39,000

Well-known cryptocurrency analyst Michael van de Poppe advises buying bitcoins at a price of $36,000-39,000.

Below $41,000 there is a buy zone because the markets have already pulled back by 15-20%. If the Bitcoin rate drops to $36,000-39,000, then you can increase your coin reserves. I love buying on the bottoms,” van de Poppe wrote.
Michael’s colleague, known under the pseudonym Doctor Profit, predicts the continuation of the bearish trend in the Bitcoin market. It is noteworthy that back on December 5, he predicted a dump in the BTC price from $48,000 to $30,000.
#btc- #BTC!💰 #BTCUSD #BitcoinWorld #Bitcoin-BTC
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Study: 12% of Salvadorans use Bitcoin for shopping

Researchers surveyed 1,280 residents of El Salvador in December 2023. The majority of respondents who paid for any purchase with Bitcoin in the past year only used BTC one to three times (49.7%). 20% have used Bitcoin more than ten times. The majority of BTC spending came from small grocery stores (22.9%) and supermarkets (20.9%), as well as veterinary clinics (15%).

The number of Salvadorans who believe their family's life has improved over the past year due to the legalization of Bitcoin increased slightly, from 3% in 2022 to 6.8% in 2023. However, more than a third of survey participants (34.3%) believe that over the past year the overall economic situation in the country has improved due to a decrease in crime (24.3%). Only 0.5% of Salvadorans attribute the improvement in the economy to the adoption of Bitcoin as a means of payment.

The number of Salvadorans using Bitcoin is actually declining. In 2022, the university conducted a similar study, which showed that 24.4% of the country’s citizens pay with Bitcoin, that is, almost twice as much.
#BTCUSD #BTC!💰 #btc- #BitcoinWorld #Bitcoin-BTC
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Samourai Swaps beta launched for confidential BTC to XMR swaps

The long-awaited launch of the platform for atomic swaps between BTC and XMR has finally taken place, its beta version was presented by the lead developer of Samourai Wallet and programmer Pokkst.

“Welcome to the public beta of Samourai Atomic Swaps,” Pokkst wrote in a post on social media X. “This desktop application makes it easy and stress-free to exchange BTCXMR, entirely through Tor.
In the public beta, expect some bugs and a "developer UI". The actual user interface is still under development. Many countries are turning to privacy coins, mainly Monero (XMR), and exchanges are seeking to remove related cryptocurrencies from their platforms.

Crypto tools and privacy-focused digital assets have enjoyed limited popularity over the past three years, and cryptomixers have faced increasing pressure from law enforcement.
#btc- #BTCtraders #XMR #Monero
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