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Bitcoin bias vulnerability, why BTC could fall below $ 35k
The bitcoin price faces a couple of major hurdles – around $ 36,750 and $ 37,800 against the US dollar.
After a failed attempt to set a level above $ 38,000, the price of bitcoin began another decline. The price even dropped below $ 34,500 and fell below the 100-hour simple moving average. A low of about $ 33,930 was formed before the price started a decent move up. It rallied above $ 35,500 but appears to be facing strong resistance around $ 36,750.
The high is forming around $ 36,888 and the price is currently showing several bearish signs. It was already trading below the 23.6% Fibonacci retracement level of the recent wave from the $ 33,930 low to the $ 36,888 high.
Ethereum consistently exceeds $ 1150
Ethereum holds major support around $ 1,150 against the US dollar.
In the last 2-3 sessions, Ethereum has made two attempts to gain strength above $ 1250 and $ 1280. There was a break below the $ 1225 and $ 1220 support levels. Ether price even dropped below the $ 1200 level and tested the 100-hour simple moving average. The low has formed around $ 1184 and is currently consolidating around the $ 1195 level.
Chainlink Price Rises To All-Time High Amid Continuous Rise In DeFi
Chainlink’s own LINK token has jumped to all-time highs in the last couple of hours.
Chainlink’s LINK token prices have skyrocketed more than 19% in the last 24 hours, leading to a new all-time high. LINK rose from an intraday low of just under $ 20 to its highest level of $ 23.60, according to Tradingview.com.
Offline mapping app Maps.me Raises $ 50M from Alameda Research to Enter DeFi
Maps.me Raises $ 50 Million in Alameda Research Funding Round
Maps.me, an offline mapping application with 140 million users worldwide, raised $ 50 million in a funding round led by Alameda Research in an effort to create a decentralized financial ecosystem within the mapping application.
Other investors, including Genesis Capital and CMS Holdings, also participated in the round, according to Alameda’s announcement.
Binance Coin Goes Over $ 47 And Installs New ATH
Binance Coin joined the growing list as it surpassed $ 47 in the early hours of January 18th.
The coin ranked 11th by market cap on CoinMarketCap with a market cap of $ 6.5 billion. BNB has a year-to-date yield of 168%, which compares favorably with some other popular exchange tokens such as OKB with a 163% yield. The BitMax token has actually depreciated 25.5%, the FTX white token has become a phenomenon with a 308% ROI YTD.
Grayscale Bitcoin Trust buys another 10,000 BTC, more than $ 22 billion in AUM
The volume of assets managed by the Grayscale Bitcoin Trust has grown from $ 3 billion to approximately $ 22.9 billion.
In just three days, the institutional-grade asset management firm acquired even more bitcoins, increasing its vast reserve. As the market price of Bitcoin declined, the Grayscale Bitcoin Trust seized the moment to add more assets to its balance sheet by investing $ 190 million in bitcoin purchases. Grayscale has now secured an additional 10,000 BTC for their trust.
65% say they will consider selling bitcoin if the price hits $ 100,000
A recent poll showed that most bitcoin investors will wait to see the six-figure price.
The cryptocurrency market has seen impressive gains over the past few months, including record highs for Bitcoin and a few more tokens.
Crypto analyst Josh Rager tweeted this to ask, “How many bitcoins of your assets are you planning to sell at the next peak?”
Interestingly, the answer that received the most votes – 34.4% – suggests that investors plan to dump most, if not all, of BTC’s assets in the event of a new peak.
However, it’s also worth noting that a very close 31.6% said they would sell less than 25% of BTC positions.
While some comments indicated that many investors plan to hold on to their coins even after the next peak, others noted that each cycle has a peak and subsequent pullback.
China Blockchain-Based Service Network for Central Bank Digital Currency Integration
BSN plans to complete the integration with 30 public blockchains this year.
Sanctioned by the Chinese state, BSN is currently developing a universal digital payment network over the next five years. The blog states that the network will support CBDCs from different countries.
The UDPN will be accessible through an API connection, and “for any information system such as banking, insurance, ERP and mobile applications … to provide a standardized digital currency transfer method and payment procedure.”