Bitcoin analysis based on fundamentals and technicals. Here's the update:
➡️Currently, Bitcoin is trading within a range, consolidating and preparing for its next move upward. Technically, Bitcoin is near a key resistance level. I've also identified the major support level, which remains intact. As long as Bitcoin doesn’t close a daily candle below this support, there’s no need to worry, we are still in a bull market.
Bitcoin has tested the resistance multiple times, weakening it. Once Bitcoin breaks this resistance and closes a daily candle above it, we can expect targets of $110K and $125K.
Fundamental Analysis From a fundamental perspective, the upcoming weeks could be game-changing. Mark these two important dates:
1. December 18 (Fed Interest Rate Decision) • The Fed is expected to announce a 25 basis points rate cut, which is almost confirmed. This is a very bullish signal for Bitcoin and the crypto market. If this happens, it could break its resistance and move higher.
2. January 20 (Donald Trump Oath Ceremony) • Donald Trump’s oath-taking ceremony is another bullish event for Bitcoin. However, don't expect a sudden pump only on January 20. Bitcoin is likely to gain momentum starting from the interest rate cut announcement on December 18, and this momentum could continue until January 20.
⚠️Note: This could also be a "buy the rumor, sell the news" event, meaning there may be some short-term volatility around January 20. A similar pattern happened during the BTC ETF approval, where Bitcoin pumped before the ETF official approval announcement, after the ETF approved everyone thinks that Bitcoin will only pump here but Bitcoin will take a correction for the short term and then again Started to rise. So this scenario is again repeat on the time of Donald Trump Oath Ceremony.
⚠️Conclusion Both technical and fundamental indicators suggest $BTC is bullish. Keep a close eye on December 18.
_⭐️US Election Impact on Bitcoin and Crypto Market:_
The upcoming US election is creating a lot of uncertainty in the crypto market.
Donald Trump’s winning probability on Polymarket has been declining, while Kamala Harris’s odds are rising.
Currently, Trump has only a 10.6% lead.
With just over a day remaining until the election, any surge in Trump’s odds could spur a recovery in Bitcoin, while Harris’s continued lead could add pressure to the crypto market.
*⚠️Important Note:*
No matter Bitcoin holds above this support or re-enters the channel, if Trump wins, we could see a significant pump in the Bitcoin & crypto market.
Conversely, a Harris win could lead to a sharp downturn.
However, it’s not as simple as saying "Trump wins, market pumps" or "Harris wins, market dumps."
Market manipulators may try to influence Bitcoin prices in both directions, making it hard to predict short-term movements.
Technical analysis may not be as reliable right now; instead, keep an eye on fundamentals like US election news, Polymarket polls, and tomorrow’s US stock market opening could all play pivotal roles in the crypto market.
*✨Trading Tips:*
• Use smaller trade amounts • Apply low leverage • Set tight stop-losses • Avoid multiple trades at once • Focus on proper risk management
🇳🇬 BREAKING: Nigeria drops money laundering charges against Binance exec Tigran Gambaryan, ending a six-month trial
The case against Tigran Gambaryan, head of financial crime compliance at Binance, was discontinued on the grounds of his ill health, according to people familiar with the court’s decision.
HBO has said that Peter Todd could be Satoshi Nakamoto the master mind behind Bitcoin. He has denied the claims!
Who Is Peter Todd, The Man Named By HBO As Bitcoin’s Mystery Creator Satoshi Nakamoto?
Bitcoin has become a $1.2 trillion asset (though one Wall Street giant has predicted it could be about to go far higher) over the last 15 years making the man, woman or group known only as Satoshi Nakamoto worth almost $70 billion if they still control the 1.1 million bitcoins they're believed to hold across a series of wallet addresses
Who Is Peter Todd?
Todd is a Canadian who started contributing to bitcoin’s code in 2012 and describes himself as a "cryptochronomancer" on X.
Todd is the founder of OpenTimestamps, an open-source project designed to provide a standard format for blockchain timestamping.
He has worked on so-called "bitcoin 2.0" projects, including Counterparty, Mastercoin and Colored Coins and was involved in the launch of privacy coin zcash in 2016 alongside NSA whistle blower Edward Snowden publicly destroying the computer he used to create the cryptocurrency.
THE DAY FOR $HMSTR IS FINALLY HERE BUT THERES A BIG ISSUE AT HAND FOR UK CITIZENS
Do you know wallet in Telegram will be temporarily restricted for users in the United Kingdom?
Is due to a restructuring that saw Wallet in Telegram join the Open Platform and will be available after the entity registers as a corporate asset provider.
Also, do you know Telegram users in the United States are also restricted from using the Wallet in Telegram app due to financial regulations?
Good News is that Wallet in Telegram users in the UK can withdraw funds to external wallets without fees during this time and will be provided updates regarding accounts.
BINANCE DEMANDS EXECUTIVE RELEASE BEFORE NIGERIAN REGISTRATION
- Binance has made it clear that it will not adhere to Nigeria’s digital asset regulations until its detained executive, Tigran Gambaryan.
Key Points: - Besides Gambaryan’s release, Binance seeks to resolve ongoing disputes with the Nigerian government. The platform faces allegations of tax evasion, money laundering, and foreign exchange violations.
- Nigeria’s Accelerated Regulatory Incubation Programme (ARIP) requires virtual asset service providers to open local offices and comply with specific regulatory standards.
- A Binance spokesperson told Nairametrics that while they appreciate Nigeria's progress in digital asset regulations, they are unwilling to proceed with registration until both conditions are met.
“We are pleased that Nigeria is making progress in the development of its digital assets regime. We hope that someday soon, once Tigran has been freed and our issues are settled, we may seek registration,” the Binance spokesperson reportedly said.
- Binance continues to be popular among Nigerian users, despite restrictions.
The exchange is not currently regulated by the SEC in Nigeria amid ongoing tensions between the company and Nigerian authorities.
Do you think NGN P2P will return to Binance after this dispute has been settled?
Over the last several years, the digital asset sector has grown immensely. The development has seen a host of countries embrace cryptocurrency adoption and the continued growth of the sector.
Yet, that has also required nations to establish their own specified regulatory stance on the asset class.
That process has been a continuous one. Yet, it has been crucial with the rapid growth of the currencies and those adopting them.
Amid that process, the UK government has officially introduced a bill that clarifies cryptocurrency as personal property.
Indeed, the legislation was devised to increase investor’s protection in regard to digital finance options.
What other country will you like this bill to be passed?
IMO: The Federal Republic of Nigeria 🇳🇬 should follow suit.
In my previous post, I talked about how Kansas Police recover $30k worth of crypto from a Nigeria scammer.
Today, Nigeria’s Securities and Exchange Commission (SEC) plans to start enforcement actions against businesses and individuals involved in unregulated cryptocurrency transactions.
Emomotimi Agama, the Director-General of Nigeria’s Securities and Exchange Commission (SEC) said and I quote “We are certainly going to commence enforcement actions on anyone who wants to operate in this market without the intention of being regulated. For those that do not want to play by the books, we will not allow them to operate within our space.”
According to Agama, the recent approvals of Busha and Quidax in Nigeria were driven by young Nigerians’ growing interest in digital assets. The official stressed it is essential to provide a clear regulatory framework protecting investors while encouraging innovation.
Do you think #crypto is now here to stay in #Nigeria or it’s a way to get hold of some people’s banking details for questioning?
A NIGERIAN STRIKES: *🗣Kansas Police Recover Stolen Bitcoin from Nigerian Scammer*
The Attorney General of Kansas has returned Bitcoin to a local resident who fell victim to a Nigerian cryptocurrency scammer. Kansas Attorney General Kris Kobach announced that this is one of the state’s first successful civil cases against international internet fraudsters.
The victim reported that Nigerian resident Bimbo Toyin Akinyemi had promised high returns on cryptocurrency investments, prompting him to transfer his crypto assets to her.
However, Akinyemi was found guilty of fraud under the Kansas Consumer Protection Act and was ordered to fully compensate the victim and pay a fine. The authorities seized $28,900 in Bitcoin and around $4,000 in other crypto assets from her wallet.
Recently, the U.S. Commodity Futures Trading Commission (CFTC) returned $18 million to investors defrauded by Ikkurty Capital, and last year, the U.S. Department of Justice promised compensation of over $17 million to 800 BitConnect victims.
Stay away from those crypto influencers portraying as crypto traders posting how they made $20k within minute, promising you high returns, this isn’t just from Nigerians but other part of the world.
If you must trade with someone, make sure every penny is in your account, controlled by you.