#MarketPullback market is going to be recover soon | Z Syed on Binance Square

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#MarketPullback 
market is going to be recover soon 

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#BTCNextMove Bitcoin Current Status: Bitcoin price has managed to break of the previous all-time high and has touched levels above $106,500 this time around amid positive news around a potential US Fed rate cut in the works. Market Performance: Bitcoin price is now seeing strong buying pressures as the price is trading at $ 97,457.40, rising by over 2.7% in the past 24 hours. The market cap has spiked back to $2.08 trillion, while the trading volume increased over 65.6% to reach close to $63.5 billion. The bullish sentiments have have sustained around 79% and the Fear-Greed Index has reached 80, suggesting the traders remain extremely greedy. Technical Analysis: As the BTC price hovers around the ATH range above $105K, the volume of the crypto has also risen to a large extent. As a result, the volatility has also increased, suggesting the price is expected to trade upwards within a narrow range for a while. However, the token remains within a bullish range and hence the price is expected to revamp a strong rise and mark new highs for the ongoing bullish cycle. BTC Price Prediction: After achieving the milestone over $106,500, the market participants appear to have squeezed some profits. As a result, BTC price is facing some bearish pressure, but the technical indicators remain bullish, which has kept the momentum higher. Hence, the BTC price prediction remains bullish, aiming to mark new highs above $110,000. Future Outlook: With the state of the U.S. about to witness a change in leadership, the crypto space is about to get regulatory clarity. Besides, many countries are also displaying interest in the crypto space and their likeness to regulate it. Therefore, the future outlook of Bitcoin remains extremely bullish as a new ATH is fast approaching.

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Germany's FDP Embraces Bitcoin and Crypto Ahead of Elections Germany's Free Democratic Party (FDP) is ramping up its focus on Bitcoin and crypto policy as the country gears up for parliamentary elections in February. The party's recent election manifesto, released on December 18, highlights a shift towards integrating digital assets like Bitcoin into the financial system. The FDP emphasizes modernizing financial market oversight while maintaining fair regulatory standards. They aim to expand BaFin's role to support FinTech and crypto innovations and align German crypto regulations with European standards. The party is open to the idea of ECB and Bundesbank holding Bitcoin reserves to strengthen the monetary system. Additionally, they advocate for a digital euro that respects user privacy and the continued use of cash. FDP leader Christian Lindner has urged Germany to embrace innovations like Bitcoin. The proposal has garnered support from European tech figures like Frank Thelen. BTC is currently trading at $102,388.

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SEC Settlement with Jump Crypto's Tai Mo Shan Jump Crypto's subsidiary, Tai Mo Shan, has reached a $123 million settlement with the SEC for misleading investors about the TerraUSD stablecoin. Tai Mo Shan, a key player in Terra's ecosystem, was involved in deceptive practices during the UST depegging crisis. The SEC accused the firm of falsely stabilizing UST and acting as a statutory underwriter for Terra Luna token. This led to significant investor losses and market disruption. The settlement includes a payment of $123 million and a cease-and-desist order. This follows similar actions against Terraform and its founder for fraud and unregistered securities offerings. The incident highlights the importance of compliance with securities laws in the crypto market to protect investors. Tai Mo Shan did not admit or deny the SEC's findings but agreed to the terms to avoid future violations.

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Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push Stablecoin issuer Tether has announced a $775 million investment in Rumble, a video platform competing with YouTube. Described as an anti-censorship platform, Rumble will receive $250 million initially in cash. Tether will acquire 103.3 million shares of Rumble common stock, with CEO Chris Pavolski retaining control. The investment, priced at $7.50 per share, is set to finalize in early 2025. Following the news, Rumble's stock surged by 40.75% in after-hours trading, reaching $10.57. Launched in 2013, Rumble focuses on free speech and has gained popularity among conservative creators. Tether's CEO highlighted shared values of decentralization and free expression. Rumble plans to establish a Bitcoin reserve amid rising BTC prices. The partnership aims to enhance advertising, cloud, and crypto payment solutions for Rumble.

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