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fogjohnson
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have fallen. This is the reason why it makes sense to buy and hold for a long time.
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96,456.01
-5.60%
ETH
3,395.01
-8.13%
BNB
698.01
-4.83%
445
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Pro-Bitcoin Donald Trump is expected to take office as the next President of the United States in approximately 14 days, following the official certification of the 2024 election results by Vice President Kamala Harris. #BinanceAlphaAlert Credit: Coingraph News
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According to Bloomberg, Gemini will pay a $5 million settlement to the CFTC for misleading regulators during the approval process for a Bitcoin futures product. Credit: Coingraph News
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📉 Bitcoin's Current Market Analysis: A Cautious Outlook ➡️ Bitcoin is currently priced at $95,492 with a market capitalization of $1.89 trillion and a 24-hour trading volume of $42 billion. Today's price fluctuations have ranged between $95,134 and $99,886. ♾ The 1-hour chart reveals a significant drop from $99,881 to $95,111, indicating strong selling pressure. While support is holding at $95,000, resistance is seen between $97,000 and $98,000. Oscillators like the relative strength index (RSI) at 46 and the Stochastic oscillator %K at 35 suggest a cautious market, with the moving average convergence divergence (MACD) showing a bearish signal at 586. ⚡️ On the 4-hour chart, a bearish engulfing pattern appears after reaching $99,881, signaling a short-term downward trend. Critical support is at $95,000, with a potential drop to $93,000 if this level fails. For a bullish reversal, prices need to break through the $98,000 to $99,000 resistance. Indicators like the awesome oscillator and momentum suggest further downside potential. 💫 The daily chart presents a bearish outlook, with Bitcoin retreating from its all-time high of $108,364 earlier this month. Support zones are crucial at $95,000 and $92,000, while $100,000 serves as a significant psychological barrier. Although the exponential moving averages (EMA) for 50- and 100-periods are optimistic, shorter ones remain bearish. 🔴 Oscillator readings indicate a neutral to bearish outlook. Traders should monitor for a push above $97,000 or a solid bounce from $95,000 for short-term opportunities, while long positions require additional confirmation across longer time frames. ❗️ The shorter-term moving averages continue to indicate selling pressure, but longer-term moving averages suggest that the broader trend may still favor accumulation if key support levels hold. 📈 Bull Verdict: Bitcoin needs to reclaim the $97,000 to $98,000 resistance zone and show sustained upward momentum to shift sentiment bullish. A confirmed breakout above $100,000 could reestablish a strong uptrend.
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Swiss citizens have initiated a campaign to integrate Bitcoin into the Swiss National Bank's reserves, seeking 100,000 signatures for a national referendum. credit: Coingraph news
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ANALYSIS: NFT sales reached $8.83 billion in 2024, surpassing last year's total by over $100 million, with December recording $877 million in sales, according to CryptoSlam. credit: Coingraph news
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