Day: December 29, 2023

Bitcoin Price Faces Another Rejection, Why BTC Is At Risk Before The New Year

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Bitcoin price failed again to clear the $44,000 resistance zone. BTC is declining and might be at risk of a downside break below the $41,500 level. Bitcoin is slowly moving lower from the $43,800 resistance zone. The price is trading below $43,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $42,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline if it stays below the $43,000 level. Bitcoin Price Takes Hit…

Ark Invest liquidates remaining Grayscale stocks

Cathie Wood’s investment fund Ark Invest has sold all its remaining assets of the Grayscale Bitcoin Trust (GBTC). Bloomberg analyst Eric Balchunas reported that half of the proceeds from the GBTC sale, amounting to a significant $100 million, were used to buy the BITO Bitcoin (BTC) futures ETF, launched by ProShares in October 2021. He suggested that the BITO purchase is likely being used as a liquidity bridge tool. However, the deal did not have a significant impact on GBTC shares. At the time of writing, according to the Nasdaq…

40 Million New Users Added, Total Registered Users Reach 170 Million

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In its recently released 2023 review report, Binance, the world’s leading cryptocurrency exchange, showcased significant growth despite facing legal disputes and regulatory scrutiny.  The report highlighted the evolving crypto market, increasing institutional interest, and the company’s commitment to compliance and user experience. Binance’s 2023 Review Despite a volatile year for the market, Binance emphasized that digital asset regulation had taken a direction toward greater clarity and harmonization in some regions.  The exchange acknowledged the challenges but noted that Web3 adoption and institutional interest continued to grow steadily, demonstrating the industry’s…

Trias hits two-year high above $9 amid growing market interest 

Trias Token (TRIAS) recently clinched a two-year-high, rallying by nearly 27% over the last 24 hours amid an observable uptick in investor interest and demand. Since hitting a high of $8.5 on Dec. 22, Trias has traced a bearish trajectory, recording intermittent drops amid the bearish atmosphere surrounding the broader crypto market. Trias collapsed 19.8% from $8.5 on Dec. 22 to $6.81 on Dec. 26. TRIAS price and RSI – Dec. 28 | Source: Santiment The drop from Trias was not an isolated event, triggered by a similar price decline…