Bitcoin Price Reclaims $48K But Can Bulls Pump BTC To $50K?

Bitcoin price climbed higher above the $48,000 resistance. BTC tested $48,800 and is currently showing signs of a downside correction.

Bitcoin price climbed higher above the $46,500 and $48,000 resistance levels.
The price is trading above $47,500 and the 100 hourly Simple moving average.
There is a key bullish trend line forming with support at $48,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move up unless there is a close below the $48,000 support.
Bitcoin Price Turns Green
Bitcoin price started a major increase above the $45,500 resistance zone. BTC cleared a few hurdles near the $46,000 and $47,200 levels to move further into a positive zone.

The bulls gained strength and were able to pump the price above the $48,000 resistance. It tested the $48,800 zone. A new multi-week high was formed near $48,775 and the price is now consolidating gains. There was a minor decline below the $48,500 level.

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ETHIOPIA BECOMES NEW HUB FOR CHINESE BITCOIN MINERS
Ethiopia has emerged as the new sanctuary for Chinese Bitcoin miners due to the quest for sustainable, cost-effective energy sources. Ethiopia’s embrace of Bitcoin mining amidst global scrutiny over energy consumption marks a pivotal chapter in the crypto narrative.

Spring witnessed an intriguing development near Ethiopia’s Grand Ethiopian Renaissance Dam. Cargo containers housing high-powered computers hinted at the arrival of Chinese Bitcoin miners. In pursuit of affordable energy and friendly regulations, these pioneers found solace in Ethiopia’s low electricity costs and welcoming government arms.
Navigating New Frontiers
Ethiopia’s leap into Bitcoin mining in 2022, despite its stance against cryptocurrency trading, reveals a strategic alignment. The nation’s ties with China and the collaborative effort in constructing the $4.8 billion dam underscore a mutual ambition. This collaboration presents Ethiopia as a beacon for cryptocurrency mining amidst the industry’s global challenges.

The influx of Bitcoin mining in Ethiopia is not without its complexities. Developing nations have shown a pattern of initial embrace followed by stringent restrictions due to energy concerns. Ethiopia’s officials tread cautiously, aware of the controversy surrounding Bitcoin mining.

With a significant portion of the population lacking electricity access, mining’s energy demands stir delicate debates. Yet, the allure of foreign exchange earnings from this sector is undeniable.
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#Btc Next target could be 52500..
what do you think?
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Dymension surges 125%, top gainer for second straight day

Dymension (DYM), the newly launched modular blockchain, becomes the top gainer in the crypto market for the second straight day, surging over 30% again on the second day.

Yesterday, DYM surged nearly 55% after Dymension’s mainnet went live. Its trading volume soared over 7,000% on debut day and maintained a similar level today. So far, the token has surged nearly 125%, from $3.54 to currently $7.87.

The token quickly became the 65th largest cryptocurrency on the market, taking over popular meme coins like BONK and gaming tokens such as The Sandbox and Axie Infinity. The network quickly became popular among the developer community, as it’s poised to be the first platform to allow developers to create their own application chains using the Cosmos Interchain technology.

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$BTC Today's Crypto Price: Bitcoin is approaching $46,000
So, PepCoin continues its comeback and DYM increases by 30%

The price of Bitcoin rose significantly, approaching $46,000. Bitcoin price rose 3.02% to $45,908.33. Meanwhile, the digital currency's market capitalization was $901.25 billion

In the altcoin space, Ethereum rose 0.70 percent to $2,447.42 at press time, with a market cap of $294.12 billion. Additionally, ETH recorded a 3.73% increase in trading volume to $10.29 billion. Additionally, Binance Coin (BNB) rose 2.41% in value to $321.49, while its 24-hour trading volume rose 11.20% to $1.08 billion.

The price of Solana reached above 100 dollars today. The price of Solana increased by 2.68% and reached $104.33. Additionally, SOL saw a 19.61% increase in trading volume to $2.34 billion in the last 24 hours. Additionally, the XRP price extended the comeback frenzy. The price of XRP recorded a 1.18% increase to $0.5186. However, XRP trading volume fell by 11.95% to $815.696 million.

Meanwhile, the price of Cardano saw a 3.88% increase to $0.5316 today.
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Bitcoin, Ethereum, Dogecoin as NYCB Hits 997 Levels Amid Little Bank Fears: Analyst Says King Crypto's Correction 'Looks Like It's Over'

What happened: Bitcoin surged from $42,500 to a one-day high of $44,700, its highest since Jan. 12, when bitcoin exchange-traded funds (ETFs) first began trading in the U.S. Muttahida were introduced, registered.

After a lengthy regulatory process, the Securities and Exchange Commission (SEC) last month authorized a series of ETFs. During this period, the price of Bitcoin reached 48,000 dollars at one point.

The global cryptocurrency market capitalization currently stands at $1.65 trillion, representing an increase of 0.59% in the last 24 hours.

The Nasdaq Composite rose 0.95 percent to close at 15,756.64, and the Dow Jones Industrial Average rose 156 points, or 0.4 percent, to end the day at 38,677.36.

Stocks rose and leading tech giants continued to rally as investors weighed corporate earnings. Nvidia and Microsoft both climbed nearly 2 percent to hit new highs, while meta-platforms saw a notable gain of 3.3 percent. Alphabet and Amazon also gained about 1 percent each.
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Dymension Gains 58% in First Day, But Questions Loom About Big Brain Staking
DYM saw massive gains in its first day after $390 million worth of tokens were airdropped yesterday. But now questions swirl about a validator.
A day after Dymension, a Cosmos-based RollApp platform, airdropped 700 million tokens to users, DYM is trading for $5.60—around 58% higher than it was yesterday.

It now also has a staggering $5.6 billion fully diluted valuation, according to CoinGecko data. Keep in mind that fully diluted valuation pretends that a coin's fully supply is circulating in the market, even if that isn't the case.

The overwhelming majority of trading has occurred on Binance. Altogether, DYM has seen $511 million worth of trading volume in its first day, according to CoinGecko.
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US digital represents a less hostile regulatory environment
After years of battling regulators, Ripple will announce product updates to its US money transfer licenses.

Ripple's relationship with the SEC has been the Achilles heel of the US crypto industry. The SEC, dating back to a 2020 complaint, accused Ripple of conducting an unregistered securities offering worth $1.3 billion by selling XRP.

While Ripple's court case is specific to the company, the regulator's accusations underlie the operation of the entire industry as it attempts to redefine how a cryptocurrency is classified.

So far, ongoing litigation has deterred Ripple from expanding into the US.
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$BTC Chris Bernisk says bearishness and then consolidation is the most likely scenario for cryptocurrencies

Venture capitalist and cryptocurrency investor Chris Bernisk says a bearish is the most likely scenario for digital assets in the next phase of the market.

After a fairly long bullish trend, cryptocurrency markets are likely in for a correction, says Bernisk on social media platform X.

"It's been a good month for cryptocurrencies, and it looks like it's about to end, and a downside to consolidation is still the most likely path for me."

Bornisk also says that the macro situation is in a precarious position. According to the investor, positive economic data may encourage the Federal Reserve to keep interest rates higher for longer, while weak data may prompt talk of a recession.

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