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Bitcoin Eyes Breakout Rally to $107K Amid $597M ETF Inflows
Bitcoin Eyes Breakout Rally to $107K Amid $597M ETF Inflows
Will the rising inflows into U.S. Bitcoin spot ETFs drive an inverted head-and-shoulder breakout rally to $107K?
Despite increased price fluctuations near the $100,000 mark, Bitcoin maintains an overall optimistic trend. Currently, Bitcoin is trading at $100,053, just shy of the $2 trillion market cap.
Technical setups indicate underlying bullish sentiment, suggesting a potential breakout rally.
Bitcoin Price Analysis
On the 4-hour chart, Bitcoin’s price trend shows a bullish breakout from a triangle pattern. However, the rally failed to surpass the critical local resistance at $101,642.
The supply zone now serves as the neckline of a bullish setup. Bitcoin’s price action is forming an inverted head-and-shoulder pattern and is currently in the process of forming the right shoulder.
The minor pullback during the formation of the right shoulder is seen as a retest of the previously broken resistance trendline. With the bullish setup and the post-retest reversal potential, the sentiment remains optimistic.
This minor pullback has led to a convergence of the MACD and signal line, warning of a potential bearish crossover. However, key dynamic support levels, such as the 20 EMA on the 4-hour chart, are observing a surge in supply.
BlackRock Purchases $431.6M Worth of Bitcoin, ETF Inflows Hit $597.57M
Despite the minor pullback, institutional support continues to grow. On December 12, the total net inflow of U.S. Bitcoin ETFs reached $597.57 million. The main character in the buying spree remains BlackRock, with an inflow of $431.60 million.
Following BlackRock, Grayscale’s mini Bitcoin ETF accumulated $110.76 million worth of Bitcoin, while GBTC sold off $48.40 million.
Bullish Setup Targets $107k
The 4-hour candle shows a 0.32% recovery, hinting at a potential reversal. If the inverted head-and-shoulder pattern breaks out bullishly, Bitcoin’s price could reach a new all-time high, surpassing the $103,102 level or the 38.20% Fibonacci retracement.
Based on the technical setup, the bull run could target $107,777. However, resistance around the 50% Fibonacci level at $106,912 may act as an intermediary target.
On the flip side, if there’s an extended pullback, the 23.60% Fibonacci level at $98,369 will be a key support level.
#BTC #bitcoin100k #Cryptomarket #cryptocurrency #CryptoNews
Will the rising inflows into U.S. Bitcoin spot ETFs drive an inverted head-and-shoulder breakout rally to $107K?
Despite increased price fluctuations near the $100,000 mark, Bitcoin maintains an overall optimistic trend. Currently, Bitcoin is trading at $100,053, just shy of the $2 trillion market cap.
Technical setups indicate underlying bullish sentiment, suggesting a potential breakout rally.
Bitcoin Price Analysis
On the 4-hour chart, Bitcoin’s price trend shows a bullish breakout from a triangle pattern. However, the rally failed to surpass the critical local resistance at $101,642.
The supply zone now serves as the neckline of a bullish setup. Bitcoin’s price action is forming an inverted head-and-shoulder pattern and is currently in the process of forming the right shoulder.
The minor pullback during the formation of the right shoulder is seen as a retest of the previously broken resistance trendline. With the bullish setup and the post-retest reversal potential, the sentiment remains optimistic.
This minor pullback has led to a convergence of the MACD and signal line, warning of a potential bearish crossover. However, key dynamic support levels, such as the 20 EMA on the 4-hour chart, are observing a surge in supply.
BlackRock Purchases $431.6M Worth of Bitcoin, ETF Inflows Hit $597.57M
Despite the minor pullback, institutional support continues to grow. On December 12, the total net inflow of U.S. Bitcoin ETFs reached $597.57 million. The main character in the buying spree remains BlackRock, with an inflow of $431.60 million.
Following BlackRock, Grayscale’s mini Bitcoin ETF accumulated $110.76 million worth of Bitcoin, while GBTC sold off $48.40 million.
Bullish Setup Targets $107k
The 4-hour candle shows a 0.32% recovery, hinting at a potential reversal. If the inverted head-and-shoulder pattern breaks out bullishly, Bitcoin’s price could reach a new all-time high, surpassing the $103,102 level or the 38.20% Fibonacci retracement.
Based on the technical setup, the bull run could target $107,777. However, resistance around the 50% Fibonacci level at $106,912 may act as an intermediary target.
On the flip side, if there’s an extended pullback, the 23.60% Fibonacci level at $98,369 will be a key support level.
#BTC #bitcoin100k #Cryptomarket #cryptocurrency #CryptoNews
Bitcoin Eyes Breakout Rally to $107K Amid $597M ETF Inflows
Will the rising inflows into U.S. Bitcoin spot ETFs drive an inverted head-and-shoulder breakout rally to $107K?
Despite increased price fluctuations near the $100,000 mark, Bitcoin maintains an overall optimistic trend. Currently, Bitcoin is trading at $100,053, just shy of the $2 trillion market cap.
Technical setups indicate underlying bullish sentiment, suggesting a potential breakout rally.
Bitcoin Price Analysis
On the 4-hour chart, Bitcoin’s price trend shows a bullish breakout from a triangle pattern. However, the rally failed to surpass the critical local resistance at $101,642.
The supply zone now serves as the neckline of a bullish setup. Bitcoin’s price action is forming an inverted head-and-shoulder pattern and is currently in the process of forming the right shoulder.
The minor pullback during the formation of the right shoulder is seen as a retest of the previously broken resistance trendline. With the bullish setup and the post-retest reversal potential, the sentiment remains optimistic.
This minor pullback has led to a convergence of the MACD and signal line, warning of a potential bearish crossover. However, key dynamic support levels, such as the 20 EMA on the 4-hour chart, are observing a surge in supply.
BlackRock Purchases $431.6M Worth of Bitcoin, ETF Inflows Hit $597.57M
Despite the minor pullback, institutional support continues to grow. On December 12, the total net inflow of U.S. Bitcoin ETFs reached $597.57 million. The main character in the buying spree remains BlackRock, with an inflow of $431.60 million.
Following BlackRock, Grayscale’s mini Bitcoin ETF accumulated $110.76 million worth of Bitcoin, while GBTC sold off $48.40 million.
Bullish Setup Targets $107k
The 4-hour candle shows a 0.32% recovery, hinting at a potential reversal. If the inverted head-and-shoulder pattern breaks out bullishly, Bitcoin’s price could reach a new all-time high, surpassing the $103,102 level
#BTC #bitcoin100k #Cryptomarket #cryptocurrency #CryptoNews
Will the rising inflows into U.S. Bitcoin spot ETFs drive an inverted head-and-shoulder breakout rally to $107K?
Despite increased price fluctuations near the $100,000 mark, Bitcoin maintains an overall optimistic trend. Currently, Bitcoin is trading at $100,053, just shy of the $2 trillion market cap.
Technical setups indicate underlying bullish sentiment, suggesting a potential breakout rally.
Bitcoin Price Analysis
On the 4-hour chart, Bitcoin’s price trend shows a bullish breakout from a triangle pattern. However, the rally failed to surpass the critical local resistance at $101,642.
The supply zone now serves as the neckline of a bullish setup. Bitcoin’s price action is forming an inverted head-and-shoulder pattern and is currently in the process of forming the right shoulder.
The minor pullback during the formation of the right shoulder is seen as a retest of the previously broken resistance trendline. With the bullish setup and the post-retest reversal potential, the sentiment remains optimistic.
This minor pullback has led to a convergence of the MACD and signal line, warning of a potential bearish crossover. However, key dynamic support levels, such as the 20 EMA on the 4-hour chart, are observing a surge in supply.
BlackRock Purchases $431.6M Worth of Bitcoin, ETF Inflows Hit $597.57M
Despite the minor pullback, institutional support continues to grow. On December 12, the total net inflow of U.S. Bitcoin ETFs reached $597.57 million. The main character in the buying spree remains BlackRock, with an inflow of $431.60 million.
Following BlackRock, Grayscale’s mini Bitcoin ETF accumulated $110.76 million worth of Bitcoin, while GBTC sold off $48.40 million.
Bullish Setup Targets $107k
The 4-hour candle shows a 0.32% recovery, hinting at a potential reversal. If the inverted head-and-shoulder pattern breaks out bullishly, Bitcoin’s price could reach a new all-time high, surpassing the $103,102 level
#BTC #bitcoin100k #Cryptomarket #cryptocurrency #CryptoNews
Bitcoin Struggles to Break $100K Amid Liquidity Decline and Nvidia Stock Slump
Bitcoin Struggles to Break $100K Amid Liquidity Decline and Nvidia Stock Slump
Bitcoin (BTC), the flagship cryptocurrency, is grappling with resistance at the $100,000 mark. Over the past three weeks, its price has hovered in the $90,000–$100,000 range, raising questions about its ability to sustain its bullish momentum.
Analysts have identified two primary factors contributing to Bitcoin’s price stagnation: a significant decline in liquidity inflows and a concerning slump in Nvidia’s (NVDA) stock.
Let’s delve into these factors to understand the challenges Bitcoin faces in breaking through the psychological $100,000 barrier.
Liquidity Inflows Decline: A Key Factor Impacting Bitcoin’s Momentum
One of the main reasons Bitcoin struggles to break $100K is the sharp decline in liquidity inflows. Liquidity is the lifeblood of any financial market, and its reduction directly impacts market activity and price movements.
Data from 10X Research reveals that the market liquidity impulse index—a composite metric tracking stablecoin issuance, spot BTC ETF inflows, and futures market changes—has plummeted by over 50%. From a high of $15 billion in early November, the index now stands at $7 billion.
Spot ETFs and Stablecoin Issuance in Decline
Spot exchange-traded funds (ETFs), often touted as game-changers for cryptocurrency adoption, have seen reduced inflows. Analysts suggest that this could be due to macroeconomic uncertainties and investor hesitation as the market grapples with volatile conditions.
Additionally, stablecoin issuance—a critical liquidity provider in crypto markets—has decreased.
Stablecoins like USDT and USDC are commonly used to facilitate trading, and their lower issuance signals diminished trading activity and reduced demand for Bitcoin.
Implications for the BTC Market
The declining liquidity has a cascading effect on Bitcoin’s price action. Lower inflows lead to reduced buying pressure, making it harder for BTC to sustain upward momentum.
Furthermore, with liquidity providers stepping back, the market becomes more susceptible to price volatility and external shocks.
Nvidia Stock Slump: A Surprising Correlation with Bitcoin
Bitcoin’s recent price action has shown a strong positive correlation with Nvidia’s stock, highlighting the interconnectedness between tech equities and cryptocurrency markets.
Since bottoming out in 2022, both assets have often moved in tandem, with their current three-month correlation at 0.6.
Why Nvidia Matters to Bitcoin
Nvidia has become a key player in the cryptocurrency ecosystem, especially due to its role in GPU manufacturing for mining operations.
A slump in Nvidia’s stock signals broader tech market challenges, which could dampen investor sentiment across correlated assets like Bitcoin.
Recent concerns over AI market saturation and reduced GPU demand have contributed to Nvidia’s stock decline. This has indirectly affected Bitcoin, as investors reassess risk exposure to high-growth, volatile assets in both tech and crypto sectors.
Market Sentiment and the Correlation
The correlation between Bitcoin and Nvidia highlights how intertwined global financial markets have become. When major tech stocks like Nvidia experience turbulence, it often spills over into the crypto space, as both asset classes share overlapping investor profiles.
Broader Market Implications
The dual impact of declining liquidity and Nvidia’s slump reflects broader challenges in the crypto market. Despite significant institutional interest in Bitcoin, the lack of sustained inflows suggests caution among investors.
Institutional Hesitation
Institutions have played a pivotal role in Bitcoin’s price surge over the past year, especially through products like spot ETFs. However, the current stagnation indicates that institutions are holding back, possibly awaiting regulatory clarity or better macroeconomic conditions.
Retail Investors and Volatility
Retail investors, who were once a driving force behind Bitcoin’s bull runs, appear to be less active in the current market. Reduced retail participation, combined with the liquidity crunch, makes the market more vulnerable to sharp price swings.
What’s Next for Bitcoin?
Bitcoin’s struggle to break $100K raises questions about its immediate future. While the current stagnation is concerning, analysts remain optimistic about Bitcoin’s long-term prospects.
Catalysts for a Breakout
Increased Liquidity: A resurgence in stablecoin issuance and ETF inflows could reignite Bitcoin’s upward momentum.
Macroeconomic Stability: A more favorable global economic environment may encourage risk-on sentiment among investors.
Regulatory Clarity: Progress in crypto regulations, particularly concerning ETFs, could attract institutional inflows.
Potential Risks
On the flip side, prolonged liquidity issues and further declines in correlated assets like Nvidia could keep Bitcoin under pressure. Additionally, heightened regulatory scrutiny or macroeconomic shocks could exacerbate market uncertainties.
Conclusion
Bitcoin’s current price stagnation highlights the interplay between liquidity dynamics and broader market factors, such as Nvidia’s stock performance.
While the $100,000 milestone remains elusive, the challenges are not insurmountable. As the crypto market matures, factors like increased liquidity, institutional interest, and technological advancements are likely to pave the way for future growth.
#bitcoin100k #cryptocurrencies #cryptomarket #Altcoins #Cryptonews
Bitcoin (BTC), the flagship cryptocurrency, is grappling with resistance at the $100,000 mark. Over the past three weeks, its price has hovered in the $90,000–$100,000 range, raising questions about its ability to sustain its bullish momentum.
Analysts have identified two primary factors contributing to Bitcoin’s price stagnation: a significant decline in liquidity inflows and a concerning slump in Nvidia’s (NVDA) stock.
Let’s delve into these factors to understand the challenges Bitcoin faces in breaking through the psychological $100,000 barrier.
Liquidity Inflows Decline: A Key Factor Impacting Bitcoin’s Momentum
One of the main reasons Bitcoin struggles to break $100K is the sharp decline in liquidity inflows. Liquidity is the lifeblood of any financial market, and its reduction directly impacts market activity and price movements.
Data from 10X Research reveals that the market liquidity impulse index—a composite metric tracking stablecoin issuance, spot BTC ETF inflows, and futures market changes—has plummeted by over 50%. From a high of $15 billion in early November, the index now stands at $7 billion.
Spot ETFs and Stablecoin Issuance in Decline
Spot exchange-traded funds (ETFs), often touted as game-changers for cryptocurrency adoption, have seen reduced inflows. Analysts suggest that this could be due to macroeconomic uncertainties and investor hesitation as the market grapples with volatile conditions.
Additionally, stablecoin issuance—a critical liquidity provider in crypto markets—has decreased.
Stablecoins like USDT and USDC are commonly used to facilitate trading, and their lower issuance signals diminished trading activity and reduced demand for Bitcoin.
Implications for the BTC Market
The declining liquidity has a cascading effect on Bitcoin’s price action. Lower inflows lead to reduced buying pressure, making it harder for BTC to sustain upward momentum.
Furthermore, with liquidity providers stepping back, the market becomes more susceptible to price volatility and external shocks.
Nvidia Stock Slump: A Surprising Correlation with Bitcoin
Bitcoin’s recent price action has shown a strong positive correlation with Nvidia’s stock, highlighting the interconnectedness between tech equities and cryptocurrency markets.
Since bottoming out in 2022, both assets have often moved in tandem, with their current three-month correlation at 0.6.
Why Nvidia Matters to Bitcoin
Nvidia has become a key player in the cryptocurrency ecosystem, especially due to its role in GPU manufacturing for mining operations.
A slump in Nvidia’s stock signals broader tech market challenges, which could dampen investor sentiment across correlated assets like Bitcoin.
Recent concerns over AI market saturation and reduced GPU demand have contributed to Nvidia’s stock decline. This has indirectly affected Bitcoin, as investors reassess risk exposure to high-growth, volatile assets in both tech and crypto sectors.
Market Sentiment and the Correlation
The correlation between Bitcoin and Nvidia highlights how intertwined global financial markets have become. When major tech stocks like Nvidia experience turbulence, it often spills over into the crypto space, as both asset classes share overlapping investor profiles.
Broader Market Implications
The dual impact of declining liquidity and Nvidia’s slump reflects broader challenges in the crypto market. Despite significant institutional interest in Bitcoin, the lack of sustained inflows suggests caution among investors.
Institutional Hesitation
Institutions have played a pivotal role in Bitcoin’s price surge over the past year, especially through products like spot ETFs. However, the current stagnation indicates that institutions are holding back, possibly awaiting regulatory clarity or better macroeconomic conditions.
Retail Investors and Volatility
Retail investors, who were once a driving force behind Bitcoin’s bull runs, appear to be less active in the current market. Reduced retail participation, combined with the liquidity crunch, makes the market more vulnerable to sharp price swings.
What’s Next for Bitcoin?
Bitcoin’s struggle to break $100K raises questions about its immediate future. While the current stagnation is concerning, analysts remain optimistic about Bitcoin’s long-term prospects.
Catalysts for a Breakout
Increased Liquidity: A resurgence in stablecoin issuance and ETF inflows could reignite Bitcoin’s upward momentum.
Macroeconomic Stability: A more favorable global economic environment may encourage risk-on sentiment among investors.
Regulatory Clarity: Progress in crypto regulations, particularly concerning ETFs, could attract institutional inflows.
Potential Risks
On the flip side, prolonged liquidity issues and further declines in correlated assets like Nvidia could keep Bitcoin under pressure. Additionally, heightened regulatory scrutiny or macroeconomic shocks could exacerbate market uncertainties.
Conclusion
Bitcoin’s current price stagnation highlights the interplay between liquidity dynamics and broader market factors, such as Nvidia’s stock performance.
While the $100,000 milestone remains elusive, the challenges are not insurmountable. As the crypto market matures, factors like increased liquidity, institutional interest, and technological advancements are likely to pave the way for future growth.
#bitcoin100k #cryptocurrencies #cryptomarket #Altcoins #Cryptonews
Tom Lee Reiterates Bitcoin's $250,000 Target For 2025, Says New White House Is 'Embracing' Digital A
Tom Lee Reiterates Bitcoin's $250,000 Target For 2025, Says New White House Is 'Embracing' Digital Assets: 'We Have A Trump Put'
Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin 4.00% in 2025 on Wednesday, thanks to a friendlier White House.
Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
When asked about Bitcoin’s price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Lee's latest remark reiterated his earlier projections of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.
As the leading cryptocurrency eventually hit the historic milestone, Lee said it could be a precursor to a bullish stock market, setting a target of 6,300 for the S&P 500 by year-end.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% in the last 24 hours.
#bitcoin100k #btc250000k #Predictionexpert #cryptomarket #CryptoNews
Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin 4.00% in 2025 on Wednesday, thanks to a friendlier White House.
Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
When asked about Bitcoin’s price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Lee's latest remark reiterated his earlier projections of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.
As the leading cryptocurrency eventually hit the historic milestone, Lee said it could be a precursor to a bullish stock market, setting a target of 6,300 for the S&P 500 by year-end.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% in the last 24 hours.
#bitcoin100k #btc250000k #Predictionexpert #cryptomarket #CryptoNews
Tom Lee Reiterates Bitcoin's $250,000 Target For 2025, Says New White House Is 'Embracing' Digital Assets: 'We Have A Trump Put'
Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin 4.00% in 2025 on Wednesday, thanks to a friendlier White House.
Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
When asked about Bitcoin’s price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Lee's latest remark reiterated his earlier projections of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.
As the leading cryptocurrency eventually hit the historic milestone, Lee said it could be a precursor to a bullish stock market, setting a target of 6,300 for the S&P 500 by year-end.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% in the last 24 hours.
#bitcoin100k #btc250000k #Predictionexpert #cryptomarket #CryptoNews
Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin 4.00% in 2025 on Wednesday, thanks to a friendlier White House.
Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
When asked about Bitcoin’s price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Lee's latest remark reiterated his earlier projections of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.
As the leading cryptocurrency eventually hit the historic milestone, Lee said it could be a precursor to a bullish stock market, setting a target of 6,300 for the S&P 500 by year-end.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% in the last 24 hours.
#bitcoin100k #btc250000k #Predictionexpert #cryptomarket #CryptoNews
Vancouver Approves Motion to Explore Bitcoin as a Reserve Asset
City staff are now charged with conducting a thorough analysis of this proposal.
The Vancouver City Council has approved a motion to make the city "Bitcoin-friendly."
Mayor Sim advocates for the adoption of Bitcoin as a means to protect the city’s purchasing power from inflationary pressures.
Vancouver City Council has greenlit a proposal to explore the incorporation of Bitcoin into municipal financial operations, including the possibility of holding Bitcoin as a reserve asset and accepting it for payments.
The motion, submitted by Mayor Ken Sim, passed during a council meeting on Wednesday with the support of six councilors, effectively directing city staff to explore the feasibility of making Vancouver a “Bitcoin-friendly city.”
Mayor Sim, who owns shares in Coinbase Global Inc., believes that adopting Bitcoin as part of the city’s financial strategy will help safeguard its purchasing power against inflation. He has pledged to donate $10,000 worth of Bitcoin to the city.
“Our family is going to donate $10,000 to the City of Vancouver in the form of bitcoin and this is going to be a gift to the city that we love,”
he said during the meeting. “We totally believe in the benefits of this and we’re putting our money where our mouth is.”
The proposal has faced opposition from local experts and government officials due to Bitcoin’s price volatility.
The Ministry of Housing and Municipal Affairs stated that neither the Community Charter nor the Vancouver Charter recognizes crypto as payment for “municipal services or other transactions.”
The ministry also confirmed that local governments cannot hold financial reserves in digital assets.
Green Councilor Pete Fry, who opposed the motion, expressed concerns about illicit activities.
#Vancouver #Bitcoinfriendly #bitcoin100k #BitcoinCity #CryptoNews
City staff are now charged with conducting a thorough analysis of this proposal.
The Vancouver City Council has approved a motion to make the city "Bitcoin-friendly."
Mayor Sim advocates for the adoption of Bitcoin as a means to protect the city’s purchasing power from inflationary pressures.
Vancouver City Council has greenlit a proposal to explore the incorporation of Bitcoin into municipal financial operations, including the possibility of holding Bitcoin as a reserve asset and accepting it for payments.
The motion, submitted by Mayor Ken Sim, passed during a council meeting on Wednesday with the support of six councilors, effectively directing city staff to explore the feasibility of making Vancouver a “Bitcoin-friendly city.”
Mayor Sim, who owns shares in Coinbase Global Inc., believes that adopting Bitcoin as part of the city’s financial strategy will help safeguard its purchasing power against inflation. He has pledged to donate $10,000 worth of Bitcoin to the city.
“Our family is going to donate $10,000 to the City of Vancouver in the form of bitcoin and this is going to be a gift to the city that we love,”
he said during the meeting. “We totally believe in the benefits of this and we’re putting our money where our mouth is.”
The proposal has faced opposition from local experts and government officials due to Bitcoin’s price volatility.
The Ministry of Housing and Municipal Affairs stated that neither the Community Charter nor the Vancouver Charter recognizes crypto as payment for “municipal services or other transactions.”
The ministry also confirmed that local governments cannot hold financial reserves in digital assets.
Green Councilor Pete Fry, who opposed the motion, expressed concerns about illicit activities.
#Vancouver #Bitcoinfriendly #bitcoin100k #BitcoinCity #CryptoNews
Vancouver Approves Motion to Explore Bitcoin as a Reserve Asset
Vancouver Approves Motion to Explore Bitcoin as a Reserve Asset
City staff are now charged with conducting a thorough analysis of this proposal.
The Vancouver City Council has approved a motion to make the city "Bitcoin-friendly."
Mayor Sim advocates for the adoption of Bitcoin as a means to protect the city’s purchasing power from inflationary pressures.
Vancouver City Council has greenlit a proposal to explore the incorporation of Bitcoin into municipal financial operations, including the possibility of holding Bitcoin as a reserve asset and accepting it for payments.
The motion, submitted by Mayor Ken Sim, passed during a council meeting on Wednesday with the support of six councilors, effectively directing city staff to explore the feasibility of making Vancouver a “Bitcoin-friendly city.”
Mayor Sim, who owns shares in Coinbase Global Inc., believes that adopting Bitcoin as part of the city’s financial strategy will help safeguard its purchasing power against inflation. He has pledged to donate $10,000 worth of Bitcoin to the city.
“Our family is going to donate $10,000 to the City of Vancouver in the form of bitcoin and this is going to be a gift to the city that we love,” he said during the meeting. “We totally believe in the benefits of this and we’re putting our money where our mouth is.”
The proposal has faced opposition from local experts and government officials due to Bitcoin’s price volatility.
The Ministry of Housing and Municipal Affairs stated that neither the Community Charter nor the Vancouver Charter recognizes crypto as payment for “municipal services or other transactions.”
The ministry also confirmed that local governments cannot hold financial reserves in digital assets.
Green Councilor Pete Fry, who opposed the motion, expressed concerns about illicit activities.
“In the absence of any really specific acknowledgement of … the very serious issues around money laundering and the history in this city, I don’t think this is a step in the right direction,” he said.
City staff is now tasked with analyzing the initiative and delivering a detailed report by the end of Q1 2025, examining the risks, benefits, and practical considerations of Bitcoin asset management.
The plan includes consulting with financial advisors, crypto experts, and community stakeholders.
The push for Bitcoin adoption has been on the rise since Donald Trump’s election victory. Trump has expressed intentions to create a more favorable regulatory environment for the crypto industry.
The trend is now expanding on a global scale, with discussions around a strategic Bitcoin reserve gaining traction among other nations’ lawmakers.
Last month, Switzerland’s Canton of Bern passed a proposal to explore Bitcoin mining as a solution to excess energy utilization and power grid stabilization.
#Vancouver #Bitcoinfriendly #bitcoin100k #BitcoinCity #CryptoNews
City staff are now charged with conducting a thorough analysis of this proposal.
The Vancouver City Council has approved a motion to make the city "Bitcoin-friendly."
Mayor Sim advocates for the adoption of Bitcoin as a means to protect the city’s purchasing power from inflationary pressures.
Vancouver City Council has greenlit a proposal to explore the incorporation of Bitcoin into municipal financial operations, including the possibility of holding Bitcoin as a reserve asset and accepting it for payments.
The motion, submitted by Mayor Ken Sim, passed during a council meeting on Wednesday with the support of six councilors, effectively directing city staff to explore the feasibility of making Vancouver a “Bitcoin-friendly city.”
Mayor Sim, who owns shares in Coinbase Global Inc., believes that adopting Bitcoin as part of the city’s financial strategy will help safeguard its purchasing power against inflation. He has pledged to donate $10,000 worth of Bitcoin to the city.
“Our family is going to donate $10,000 to the City of Vancouver in the form of bitcoin and this is going to be a gift to the city that we love,” he said during the meeting. “We totally believe in the benefits of this and we’re putting our money where our mouth is.”
The proposal has faced opposition from local experts and government officials due to Bitcoin’s price volatility.
The Ministry of Housing and Municipal Affairs stated that neither the Community Charter nor the Vancouver Charter recognizes crypto as payment for “municipal services or other transactions.”
The ministry also confirmed that local governments cannot hold financial reserves in digital assets.
Green Councilor Pete Fry, who opposed the motion, expressed concerns about illicit activities.
“In the absence of any really specific acknowledgement of … the very serious issues around money laundering and the history in this city, I don’t think this is a step in the right direction,” he said.
City staff is now tasked with analyzing the initiative and delivering a detailed report by the end of Q1 2025, examining the risks, benefits, and practical considerations of Bitcoin asset management.
The plan includes consulting with financial advisors, crypto experts, and community stakeholders.
The push for Bitcoin adoption has been on the rise since Donald Trump’s election victory. Trump has expressed intentions to create a more favorable regulatory environment for the crypto industry.
The trend is now expanding on a global scale, with discussions around a strategic Bitcoin reserve gaining traction among other nations’ lawmakers.
Last month, Switzerland’s Canton of Bern passed a proposal to explore Bitcoin mining as a solution to excess energy utilization and power grid stabilization.
#Vancouver #Bitcoinfriendly #bitcoin100k #BitcoinCity #CryptoNews
El Salvador’s Bitcoin Gain Passed $333 million
Salvadoran President Nayib Bukele took to social media to draw attention to the nation’s unrealized profits from its Bitcoin following the cryptocurrency’s first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvador’s Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nation’s Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nation’s adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nation’s alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability.
El Salvador was once again urged by the IMF to relax its Bitcoin regulations.
Julie Kozack, IMF’s director of communications, suggested reducing the country’s Bitcoin Law’s reach and limiting the public sector’s exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews
Salvadoran President Nayib Bukele took to social media to draw attention to the nation’s unrealized profits from its Bitcoin following the cryptocurrency’s first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvador’s Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nation’s Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nation’s adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nation’s alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability.
El Salvador was once again urged by the IMF to relax its Bitcoin regulations.
Julie Kozack, IMF’s director of communications, suggested reducing the country’s Bitcoin Law’s reach and limiting the public sector’s exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews
El Salvador’s Bitcoin Gain Passed $333 million
El Salvador’s Bitcoin Gain Passed $333 million
Salvadoran President Nayib Bukele took to social media to draw attention to the nation’s unrealized profits from its Bitcoin following the cryptocurrency’s first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvador’s Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nation’s Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nation’s adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nation’s alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability
El Salvador was once again urged by the IMF to relax its Bitcoin regulations. Julie Kozack, IMF’s director of communications, suggested reducing the country’s Bitcoin Law’s reach and limiting the public sector’s exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews
Salvadoran President Nayib Bukele took to social media to draw attention to the nation’s unrealized profits from its Bitcoin following the cryptocurrency’s first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvador’s Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nation’s Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nation’s adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nation’s alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability
El Salvador was once again urged by the IMF to relax its Bitcoin regulations. Julie Kozack, IMF’s director of communications, suggested reducing the country’s Bitcoin Law’s reach and limiting the public sector’s exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews
BTC Dominance Falls:
Altcoin season is heating up as BTC dominance drops to 54.2%.
Will this trend continue, or will BTC reclaim its throne? 👑
#Altcoins #CryptoDominance #bitcoin100k #Write2Earn!
Altcoin season is heating up as BTC dominance drops to 54.2%.
Will this trend continue, or will BTC reclaim its throne? 👑
#Altcoins #CryptoDominance #bitcoin100k #Write2Earn!
Michael Saylor Targets $100K Bitcoin This Year — Says All Microstrategy Investors Want More BTC
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Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategy’s aggressive BTC acquisitions.
‘All of Our Investors Tell Me, They Want Me to Buy More Bitcoin’Michael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTC’s trajectory and the cryptocurrency industry’s future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.
“We’re also getting a lot of very constructive support from Wall Street,” Saylor said, elaborating: “Blackrock has been a very, very strong voice articulating the bitcoin value proposition.” He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. “That’s the same as saying we’re going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,”
Saylor described, emphasizing:
There’s a lot of bullish things going on in the market right now.
On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it “probably the most pivotal role in the entire digital assets industry.” He predicted that a pro-bitcoin SEC chair could bring about significant changes, including “a digital assets framework” and “an end to the war in crypto.”
The Microstrategy chairman also expressed confidence in bitcoin’s price performance, rejecting the possibility of a drop below $30,000. “I don’t think it’s going to $60K. It’s not going to $30K. I think it’s going to go up from here. I’m planning the $100K party and I’m thinking it’s probably going to be New Year’s Eve at my house,”
he opined, noting:
I would be surprised if we don’t go through $100K in November or December.
When asked about the U.S. making BTC a national reserve, he expressed support for Senator Cynthia Lummis’ proposal for a U.S. strategic bitcoin reserve, calling it essential for strengthening the nation’s economic leadership. “I think it’s a great idea. I think it will happen. And I think it’s important to the United States … Senator Lummis’ bill will offset $16 trillion of our debt, according to my models right now. So, I think it’s economically wise. It’s technically wise,” Saylor detailed.
Discussing Microstrategy’s rapid bitcoin acquisitions, he revealed:
All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: ‘Are you going to stop issuing equity to buy bitcoin?’ So, we were actually addressing their concerns.“We did raise $2 billion to buy 27,200 bitcoin just in the first 10 days of November. So we’re moving fairly aggressively on it. I think our exact rate will be a function of the capital markets but right now they’ve been very enthusiastic. So, our plan is three years, but it’s possible we’ll do it much before then,” he concluded.
#Michael #Predictionexpert #bitcoin100k #Cryptonews
Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategy’s aggressive BTC acquisitions.
‘All of Our Investors Tell Me, They Want Me to Buy More Bitcoin’Michael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTC’s trajectory and the cryptocurrency industry’s future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.
“We’re also getting a lot of very constructive support from Wall Street,” Saylor said, elaborating: “Blackrock has been a very, very strong voice articulating the bitcoin value proposition.” He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. “That’s the same as saying we’re going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,”
Saylor described, emphasizing:
There’s a lot of bullish things going on in the market right now.
On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it “probably the most pivotal role in the entire digital assets industry.” He predicted that a pro-bitcoin SEC chair could bring about significant changes, including “a digital assets framework” and “an end to the war in crypto.”
The Microstrategy chairman also expressed confidence in bitcoin’s price performance, rejecting the possibility of a drop below $30,000. “I don’t think it’s going to $60K. It’s not going to $30K. I think it’s going to go up from here. I’m planning the $100K party and I’m thinking it’s probably going to be New Year’s Eve at my house,”
he opined, noting:
I would be surprised if we don’t go through $100K in November or December.
When asked about the U.S. making BTC a national reserve, he expressed support for Senator Cynthia Lummis’ proposal for a U.S. strategic bitcoin reserve, calling it essential for strengthening the nation’s economic leadership. “I think it’s a great idea. I think it will happen. And I think it’s important to the United States … Senator Lummis’ bill will offset $16 trillion of our debt, according to my models right now. So, I think it’s economically wise. It’s technically wise,” Saylor detailed.
Discussing Microstrategy’s rapid bitcoin acquisitions, he revealed:
All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: ‘Are you going to stop issuing equity to buy bitcoin?’ So, we were actually addressing their concerns.“We did raise $2 billion to buy 27,200 bitcoin just in the first 10 days of November. So we’re moving fairly aggressively on it. I think our exact rate will be a function of the capital markets but right now they’ve been very enthusiastic. So, our plan is three years, but it’s possible we’ll do it much before then,” he concluded.
#Michael #Predictionexpert #bitcoin100k #Cryptonews
Bitcoin #bitcoin100k
🔥 ATTENTION ATTENTION
Nayib Bukele, El Salvador's President, has made waves on social media by sharing the impressive results of his Bitcoin investment on Instagram. His portfolio graph reveals a current balance of $540,870,720, representing a remarkable 101.76% gain since the investment strategy began. This significant growth is attributed to an initial investment of $268,082,725.80, with an unrealized gain of over $272 million.¹
Bukele's bold move to adopt Bitcoin as legal tender in 2021 has positioned El Salvador as a pioneer in cryptocurrency adoption. Despite initial criticism, the shared results suggest that the investment is paying off. However, experts remain divided on the long-term sustainability of this policy, citing the cryptocurrency market's volatility and potential risks.
The timing of Bukele's announcement is notable, as Bitcoin has regained significant value globally, surpassing critical levels that had raised doubts about its adoption. While some celebrate the success, others question whether this gain will translate into direct benefits for Salvadoran citizens, who still face economic challenges.
*Key Highlights of El Salvador's Bitcoin Investment:*
- _Current Balance:_ $540,870,720
- _Total Gain:_ 101.76%
- _Initial Investment:_ $268,082,725.80
- _Unrealized Gain:_ Over $272 million
*Reactions to Bukele's Announcement:*
BTC$BTC
ETH3,083.37-1.24%#cryptocurrency- Mixed reactions on social media- Celebration of success by some- Concerns about translating gains into direct benefits for citizens- Experts divided on long-term sustainabilityBukele's move reinforces his position as a prominent leader in cryptocurrency adoption, placing him at the center of the global debate on digital financial futures.
🔥 ATTENTION ATTENTION
Nayib Bukele, El Salvador's President, has made waves on social media by sharing the impressive results of his Bitcoin investment on Instagram. His portfolio graph reveals a current balance of $540,870,720, representing a remarkable 101.76% gain since the investment strategy began. This significant growth is attributed to an initial investment of $268,082,725.80, with an unrealized gain of over $272 million.¹
Bukele's bold move to adopt Bitcoin as legal tender in 2021 has positioned El Salvador as a pioneer in cryptocurrency adoption. Despite initial criticism, the shared results suggest that the investment is paying off. However, experts remain divided on the long-term sustainability of this policy, citing the cryptocurrency market's volatility and potential risks.
The timing of Bukele's announcement is notable, as Bitcoin has regained significant value globally, surpassing critical levels that had raised doubts about its adoption. While some celebrate the success, others question whether this gain will translate into direct benefits for Salvadoran citizens, who still face economic challenges.
*Key Highlights of El Salvador's Bitcoin Investment:*
- _Current Balance:_ $540,870,720
- _Total Gain:_ 101.76%
- _Initial Investment:_ $268,082,725.80
- _Unrealized Gain:_ Over $272 million
*Reactions to Bukele's Announcement:*
BTC$BTC
ETH3,083.37-1.24%#cryptocurrency- Mixed reactions on social media- Celebration of success by some- Concerns about translating gains into direct benefits for citizens- Experts divided on long-term sustainabilityBukele's move reinforces his position as a prominent leader in cryptocurrency adoption, placing him at the center of the global debate on digital financial futures.
Will Bitcoin Reach $100,000 Soon?
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Bitcoin traders are now focusing on the potential for the cryptocurrency to hit the $100,000 threshold, as its price sustains above $90,000 in weekly closeouts. However, recent on-chain data indicates that a price correction of approximately 10-15% could be imminent, possibly taking Bitcoin down to $76,000 before any upward movement toward $100,000 resumes.
What Signals are Emerging from On-Chain Data?Several critical on-chain metrics suggest that Bitcoin may be due for a price pullback. Noted crypto expert Ali Martinez emphasizes that these indicators are raising alarms about the current market conditions.
What Support Levels Should Traders Watch?The Bitcoin fear and greed index currently sits at 83 out of 100, reflecting an atmosphere of extreme greed among traders. This sentiment is further bolstered by a spike in Bitcoin-related searches, particularly from retail investors.
During the recent price surge, traders have taken profits amounting to $5.42 billion, which could escalate selling pressure. The TD Sequential indicator has also issued a sell signal.
If Bitcoin manages to close above $91,900, it could pave the way for a journey toward the coveted $100,000 mark. Nevertheless, should a correction occur, initial support levels are found between $85,800 and $83,250, with deeper corrections targeting ranges of $75,520 to $72,880.
Traders should monitor key support levels for potential entry points.Market sentiment indicates heightened greed, which could lead to volatility.Strategic planning is essential due to the rapidly changing market conditions.
#bitcoin100k #Btcoin #cryptomarket #CryptoNews
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Bitcoin traders are now focusing on the potential for the cryptocurrency to hit the $100,000 threshold, as its price sustains above $90,000 in weekly closeouts. However, recent on-chain data indicates that a price correction of approximately 10-15% could be imminent, possibly taking Bitcoin down to $76,000 before any upward movement toward $100,000 resumes.
What Signals are Emerging from On-Chain Data?Several critical on-chain metrics suggest that Bitcoin may be due for a price pullback. Noted crypto expert Ali Martinez emphasizes that these indicators are raising alarms about the current market conditions.
What Support Levels Should Traders Watch?The Bitcoin fear and greed index currently sits at 83 out of 100, reflecting an atmosphere of extreme greed among traders. This sentiment is further bolstered by a spike in Bitcoin-related searches, particularly from retail investors.
During the recent price surge, traders have taken profits amounting to $5.42 billion, which could escalate selling pressure. The TD Sequential indicator has also issued a sell signal.
If Bitcoin manages to close above $91,900, it could pave the way for a journey toward the coveted $100,000 mark. Nevertheless, should a correction occur, initial support levels are found between $85,800 and $83,250, with deeper corrections targeting ranges of $75,520 to $72,880.
Traders should monitor key support levels for potential entry points.Market sentiment indicates heightened greed, which could lead to volatility.Strategic planning is essential due to the rapidly changing market conditions.
#bitcoin100k #Btcoin #cryptomarket #CryptoNews
Michael Saylor Targets $100K Bitcoin This Year — Says All Microstrategy Investors Want More BTC
Turn Your $100 USDT into $3,000 USDT, Confirmed 30X Profit from AIG #MEME Token. 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30. Pre-Sale Is Live, Join the Pre-sale and Airdrop at the Official Website ➯PlayAiGames.online
Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategy’s aggressive BTC acquisitions.
‘All of Our Investors Tell Me, They Want Me to Buy More Bitcoin’Michael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTC’s trajectory and the cryptocurrency industry’s future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.
“We’re also getting a lot of very constructive support from Wall Street,” Saylor said, elaborating: “Blackrock has been a very, very strong voice articulating the bitcoin value proposition.” He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. “That’s the same as saying we’re going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,”
Saylor described, emphasizing:
There’s a lot of bullish things going on in the market right now.
On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it “probably the most pivotal role in the entire digital assets industry.” He predicted that a pro-bitcoin SEC chair could bring about significant changes, including “a digital assets framework” and “an end to the war in crypto.”
The Microstrategy chairman also expressed confidence in bitcoin’s price performance, rejecting the possibility of a drop below $30,000. “I don’t think it’s going to $60K.
#Michael #Predictionexpert #bitcoin100k #Cryptonews
Turn Your $100 USDT into $3,000 USDT, Confirmed 30X Profit from AIG #MEME Token. 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30. Pre-Sale Is Live, Join the Pre-sale and Airdrop at the Official Website ➯PlayAiGames.online
Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategy’s aggressive BTC acquisitions.
‘All of Our Investors Tell Me, They Want Me to Buy More Bitcoin’Michael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTC’s trajectory and the cryptocurrency industry’s future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.
“We’re also getting a lot of very constructive support from Wall Street,” Saylor said, elaborating: “Blackrock has been a very, very strong voice articulating the bitcoin value proposition.” He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. “That’s the same as saying we’re going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,”
Saylor described, emphasizing:
There’s a lot of bullish things going on in the market right now.
On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it “probably the most pivotal role in the entire digital assets industry.” He predicted that a pro-bitcoin SEC chair could bring about significant changes, including “a digital assets framework” and “an end to the war in crypto.”
The Microstrategy chairman also expressed confidence in bitcoin’s price performance, rejecting the possibility of a drop below $30,000. “I don’t think it’s going to $60K.
#Michael #Predictionexpert #bitcoin100k #Cryptonews
Solana (SOL) and Binance Coin (BNB) have posted modest gains, but the real excitement is around DTX Exchange (DTX), which is attracting significant investor attention during its presale window.
DTX Exchange has already surpassed $7.05 million in funding before its ICO, with investors eager to get in on the action.¹ This innovative platform combines the strengths of centralized and decentralized exchanges, promising to revolutionize the $3 billion trading market.
*Key Features of DTX Exchange:*
- _Hybrid Blockchain Model_: Combines CEX and DEX features for a seamless trading experience
- _Zero-Commission Policy_: Offers traders a cost-effective way to buy and sell cryptocurrencies
- _Deep Liquidity_: Ensures smooth and efficient trading
- _Enhanced Security_: Utilizes offline storage for wallet phrases and distributed liquidity pools
With its promising upside potential and innovative features, DTX Exchange is poised to challenge established players like Binance Coin (BNB) and Solana (SOL).² As the presale window remains open, investors are eager to capitalize on the potential gains that DTX Exchange has to offer. $SOL $SOL
#ShareYourThoughtOnBTC #bitcoin100k
DTX Exchange has already surpassed $7.05 million in funding before its ICO, with investors eager to get in on the action.¹ This innovative platform combines the strengths of centralized and decentralized exchanges, promising to revolutionize the $3 billion trading market.
*Key Features of DTX Exchange:*
- _Hybrid Blockchain Model_: Combines CEX and DEX features for a seamless trading experience
- _Zero-Commission Policy_: Offers traders a cost-effective way to buy and sell cryptocurrencies
- _Deep Liquidity_: Ensures smooth and efficient trading
- _Enhanced Security_: Utilizes offline storage for wallet phrases and distributed liquidity pools
With its promising upside potential and innovative features, DTX Exchange is poised to challenge established players like Binance Coin (BNB) and Solana (SOL).² As the presale window remains open, investors are eager to capitalize on the potential gains that DTX Exchange has to offer. $SOL $SOL
#ShareYourThoughtOnBTC #bitcoin100k
SOMETHING VERY 🔥 🔥 🔥 is
Capo, a prominent cryptocurrency trader and analyst, is sounding the alarm bells, warning traders about a potential Bitcoin price drop.¹ Despite Bitcoin's recent surge, Capo remains cautious, citing excessive market optimism and the U.S. government's BTC holdings as concerns.
#btc #bitcoin100k #bitcoins
Capo's warning isn't just about Bitcoin; he's also expressed a negative outlook for Ethereum, citing a potential local top and altcoin reversals.² This cautious stance is shared by other analysts, who believe that the market may be due for a correction.³
#shib $BNB $BTC
It's essential for traders to remain vigilant and adapt to changing market conditions. Capo's warning serves as a reminder to be cautious and not get caught up in the hype. As always, it's crucial to do your own research and stay informed to make informed investment decisions.⁴
Capo, a prominent cryptocurrency trader and analyst, is sounding the alarm bells, warning traders about a potential Bitcoin price drop.¹ Despite Bitcoin's recent surge, Capo remains cautious, citing excessive market optimism and the U.S. government's BTC holdings as concerns.
#btc #bitcoin100k #bitcoins
Capo's warning isn't just about Bitcoin; he's also expressed a negative outlook for Ethereum, citing a potential local top and altcoin reversals.² This cautious stance is shared by other analysts, who believe that the market may be due for a correction.³
#shib $BNB $BTC
It's essential for traders to remain vigilant and adapt to changing market conditions. Capo's warning serves as a reminder to be cautious and not get caught up in the hype. As always, it's crucial to do your own research and stay informed to make informed investment decisions.⁴
Bitcoin Update
#BTC tried breaking $100K but fell short. Current resistance zones:
👉 $97,300 | $96,200 | $93,500
With Bitcoin dominance down, altcoins like $ADA, $DOT, $XRP, $PEPE $DOGE and $MANA are stealing the show. 🛸 Are you riding the altcoin wave? 🌊#bitcoin100k #ALTSEASON #Write2Earn! $BTC
#BTC tried breaking $100K but fell short. Current resistance zones:
👉 $97,300 | $96,200 | $93,500
With Bitcoin dominance down, altcoins like $ADA, $DOT, $XRP, $PEPE $DOGE and $MANA are stealing the show. 🛸 Are you riding the altcoin wave? 🌊#bitcoin100k #ALTSEASON #Write2Earn! $BTC
PEPE Coin and Bitcoin Show Promising Growth
PEPE Coin and Bitcoin Show Promising Growth
A well-known trading expert, recognized by the name “Bluntz,” recently shared encouraging forecasts for the meme coin Pepe (PEPE) and Bitcoin (BTC) on the social platform X.
According to Bluntz, PEPE could see a surge exceeding 35% from its current price levels, indicating potential for significant gains in the altcoin market.
What to Expect from PEPE Coin?
Bluntz observed that PEPE has reached a local bottom following an ABC correction on its hourly chart, suggesting a potential upward trend based on Elliott Wave principles.
He anticipates that PEPE could escalate to around $0.00002800 by forming a five-wave pattern that marks its price ascent.
Will Bitcoin Rise to New Heights?
The analyst also commented on Bitcoin’s current upward trajectory, identifying it as being in wave five of a significant rise. He predicts that Bitcoin could achieve a value of $180,000, noting its recent peak at $99,588.
PEPE has surged over 160% since its November low.Bluntz anticipates a breakout for PEPE as it approaches a five-wave completion.
Both PEPE and Bitcoin show favorable technical indicators, although market volatility remains a factor.While Bluntz’s assessments offer optimism for PEPE and Bitcoin, it is vital for participants in the cryptocurrency sphere to perform their own analyses.
The fast-paced nature of the market necessitates a careful evaluation of risks and opportunities.
#pepecoin🐸 #Pepecast #bitcoin100k #Bitcoin #CryptoNews
A well-known trading expert, recognized by the name “Bluntz,” recently shared encouraging forecasts for the meme coin Pepe (PEPE) and Bitcoin (BTC) on the social platform X.
According to Bluntz, PEPE could see a surge exceeding 35% from its current price levels, indicating potential for significant gains in the altcoin market.
What to Expect from PEPE Coin?
Bluntz observed that PEPE has reached a local bottom following an ABC correction on its hourly chart, suggesting a potential upward trend based on Elliott Wave principles.
He anticipates that PEPE could escalate to around $0.00002800 by forming a five-wave pattern that marks its price ascent.
Will Bitcoin Rise to New Heights?
The analyst also commented on Bitcoin’s current upward trajectory, identifying it as being in wave five of a significant rise. He predicts that Bitcoin could achieve a value of $180,000, noting its recent peak at $99,588.
PEPE has surged over 160% since its November low.Bluntz anticipates a breakout for PEPE as it approaches a five-wave completion.
Both PEPE and Bitcoin show favorable technical indicators, although market volatility remains a factor.While Bluntz’s assessments offer optimism for PEPE and Bitcoin, it is vital for participants in the cryptocurrency sphere to perform their own analyses.
The fast-paced nature of the market necessitates a careful evaluation of risks and opportunities.
#pepecoin🐸 #Pepecast #bitcoin100k #Bitcoin #CryptoNews
PEPE Coin and Bitcoin Show Promising Growth
A well-known trading expert, recognized by the name “Bluntz,” recently shared encouraging forecasts for the meme coin Pepe (PEPE) and Bitcoin (BTC) on the social platform X.
According to Bluntz, PEPE could see a surge exceeding 35% from its current price levels, indicating potential for significant gains in the altcoin market.
What to Expect from PEPE Coin?
Bluntz observed that PEPE has reached a local bottom following an ABC correction on its hourly chart, suggesting a potential upward trend based on Elliott Wave principles.
He anticipates that PEPE could escalate to around $0.00002800 by forming a five-wave pattern that marks its price ascent.
Will Bitcoin Rise to New Heights?
The analyst also commented on Bitcoin’s current upward trajectory, identifying it as being in wave five of a significant rise. He predicts that Bitcoin could achieve a value of $180,000, noting its recent peak at $99,588.
PEPE has surged over 160% since its November low.Bluntz anticipates a breakout for PEPE as it approaches a five-wave completion.
Both PEPE and Bitcoin show favorable technical indicators, although market volatility remains a factor.While Bluntz’s assessments offer optimism for PEPE and Bitcoin, it is vital for participants in the cryptocurrency sphere to perform their own analyses.
The fast-paced nature of the market necessitates a careful evaluation of risks and opportunities.
#pepecoin🐸 #Pepecast #bitcoin100k #Bitcoin #CryptoNews
A well-known trading expert, recognized by the name “Bluntz,” recently shared encouraging forecasts for the meme coin Pepe (PEPE) and Bitcoin (BTC) on the social platform X.
According to Bluntz, PEPE could see a surge exceeding 35% from its current price levels, indicating potential for significant gains in the altcoin market.
What to Expect from PEPE Coin?
Bluntz observed that PEPE has reached a local bottom following an ABC correction on its hourly chart, suggesting a potential upward trend based on Elliott Wave principles.
He anticipates that PEPE could escalate to around $0.00002800 by forming a five-wave pattern that marks its price ascent.
Will Bitcoin Rise to New Heights?
The analyst also commented on Bitcoin’s current upward trajectory, identifying it as being in wave five of a significant rise. He predicts that Bitcoin could achieve a value of $180,000, noting its recent peak at $99,588.
PEPE has surged over 160% since its November low.Bluntz anticipates a breakout for PEPE as it approaches a five-wave completion.
Both PEPE and Bitcoin show favorable technical indicators, although market volatility remains a factor.While Bluntz’s assessments offer optimism for PEPE and Bitcoin, it is vital for participants in the cryptocurrency sphere to perform their own analyses.
The fast-paced nature of the market necessitates a careful evaluation of risks and opportunities.
#pepecoin🐸 #Pepecast #bitcoin100k #Bitcoin #CryptoNews