Day: December 30, 2024

MicroStrategy adds Bitcoin for 8th consecutive week

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MicroStrategy, the software maker turned Bitcoin development company, increased its total holding to 446,400 BTC. Executive chairman Michael Saylor teased MicroStrategy’s Bitcoin (BTC) purchase as usual via a Dec. 29 post on X. The firm’s securities disclosure filings confirmed it bought 2,138 BTC for $209 million last week. This marks MicroStrategy’s eighth consecutive weekly Bitcoin purchase, bringing its average acquisition price to $62,428 per BTC. Since initiating its Bitcoin strategy in 2020, the company has spent over $27.9 billion on its BTC holdings. MicroStrategy has acquired 2,138 BTC for ~$209…

Hong Kong lawmaker wants to add Bitcoin to national reserves to boost financial security

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Hong Kong legislator Wu Jiexhuang suggested the region should start adding Bitcoin to its national reserves as a way to boost financial security. According to the local newspaper Wen Wei Po, Wu said Hong Kong regulators should study the impact of U.S-issued Bitcoin exchange-traded funds on the market as a starting point before they decide to add Bitcoin to the national reserve. He argued that Hong Kong authorities could take advantage of of China’s “one country, two systems” policy to include Bitcoin (BTC) in its national reserve for financial security.…

U.S. Debt Ceiling Looms in Signal for Bottom in Bitcoin (BTC) Price Cycle

The U.S. is likely to hit the maximum it’s legally allowed to borrow at some point between Jan. 14 and Jan. 23, Treasury Secretary Janet Yellen said in a Friday letter to the speaker of the House of Representatives, Mike Johnson. After that, the Treasury will take “extraordinary measures” to cut borrowing. “I respectfully urge Congress to act to protect the full faith and credit of the United States,” she wrote. In June 2023, Congress suspended the debt limit until Jan. 1, 2025. Risk assets weakened into the market close,…

Ethereum Price Guns For A Mid-High Timeframe Reversal Against Bitcoin In Bullish Q1 2025

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Este artículo también está disponible en español. As the crypto market prepares to close the year, the Ethereum price is showing strength against Bitcoin (BTC) as it aims for a mid-high timeframe reversal. A breakout above a critical resistance level could signal a potential shift in price action, paving the way for Ethereum’s dominance and potential rally in Q1 2025.  Ethereum Price Poised For Breakout Against Bitcoin A crypto analyst, known as ‘Daan Crypto Trades,’ shared a price chart representing the ETH/BTC trading pair, providing a detailed analysis of the probability of a…

Will $93,257 Support Hold Or Break Below?

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Este artículo también está disponible en español. Bitcoin stands at a critical crossroads, with its price hovering near the crucial $93,257 support level. This key price point has acted as a stronghold for the cryptocurrency during its recent ascent, but now, the market is facing mounting pressure. Bearish strength is starting to gain traction, raising concerns that the $93,257 level might soon give way to further declines. The Relative Strength Index (RSI) is beginning to show signs of weakness, suggesting that momentum is shifting in favor of the bears. If…

HyperLiquid Blockchain Introduces Native Staking as HYPE Token Price Soars

Layer-1 blockchain HyperLiquid, known for its decentralized derivatives exchange, opened up native staking for holders of its HYPE token, according to a Monday post on X. Stakers can select which validator to stake tokens with and will accrue rewards in return for securing the network. At launch, HyperLiquid staked 300 million tokens ($8.4 billion), and another 7 million tokens were added by users in the first hour. The tokens are staked across 16 validators. Locked tokens bound by a vesting schedule can be staked, but rewards that accrue will remain…

Former finance minister urges German central bank to consider Bitcoin as a reserve asset

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Former German Finance Minister Christian Lindner has advocated for including cryptocurrencies like Bitcoin in the European Central Bank and Bundesbank reserves to strengthen financial resilience and keep pace with global trends. According to the German media outlet Handelsblatt, Lindner pointed to the United States, where the incoming Donald Trump-led administration is looking to adopt a progressive approach towards crypto-assets, including discussions about incorporating Bitcoin into the Federal Reserve’s reserves alongside traditional assets like gold. Lindner highlighted that cryptocurrencies now make up a significant share of global wealth growth and warned…

Ethereum could surge to $6K by Q1 2025 as multiple bullish patterns emerge

Ethereum, which has seen a significant jump in long-term holders in 2024, could potentially rally to as high as $6,000 in Q1 2025, according to analysts. In a Dec. 29 X post, CryptoBullet, who has over 152k followers, noted that Ethereum is in the process of forming a bull pennant pattern on the 1-day ETH/USDT chart. He expects this pattern to be completed in the coming months, potentially leading to a massive surge to as high as $6,000 within Q1 2025. In technical analysis, a bull pennant pattern forms after…

Dogecoin Teeters Between ‘Price Discovery’ And ‘Catastrophe’

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Este artículo también está disponible en español. The Dogecoin price is currently down -34% from its December 8 high at $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of “the better looking” charts at the moment. In a new Broadcast on X, he offered an in-depth look at Dogecoin, the broader market environment, and key technical indicators. Dogecoin: Price Discovery Or Catastrophe? Despite the current retracement, Kevin believes Dogecoin’s chart “looks really nice at the moment” and appears stronger than many other cryptocurrencies: “This is a stronger…