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Guess what day it is Folks? HUMPDAY! Bitcoin is trading down at $42,855.69. No one knows which way Bitcoin is going to go. The hype machines are running and everyone is talking bullish because of the pending ETF approvals from the SEC but be careful. Let's get on with the news...
SUMMARY
Yesterday, Do Kwon extradition approval canceled by Montenegro court.(6) Today, nothing is trending so far.
Bitcoin options open interest on CME reaches all-time high. But, Bitcoin price attempted a fresh upside break above the $43,500 resistance. BTC failed and corrected lower to test the $41,800 support zone. Large Bitcoin holders scoop up 20,000 BTC, setting new monthly accumulation record.
Bitcoin advocate Samson Mow optimistic that Bitcoin ETF will stir healthy competition. A slurry of catalysts and historical behavior could catapult bitcoin (BTC) to as high as $160,000 in a widely expected bull market that analysts say could be underway in 2024. MicroStrategy Founder Michael Saylor breaks down Bitcoin’s rally: Education, adoption, and policy shifts key to growth.
BlackRock, Nasdaq, SEC met regarding Bitcoin ETF; this is the second meeting in a month between the parties about rule changes required to list the bitcoin ETF.
Ethereum ($ETH) tests major breakout aone, Analyst Ali Martinez anticipates $3,500 target. Ethereum's fundamentals remain solid despite recent market retreat; prices have more than doubled since June 2022 low and potential catalysts, such as spot ETH exchange-traded fund approval, could propel Ethereum to outperform Bitcoin in 2024. Over the last year, Dogecoin ($DOGE) has experienced an increase in its value of almost 22%. This rise in value contributed to the increase in accounts possessing more than $1 million worth of cryptocurrency despite its inflationary nature.
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Podcast of the Day: Decentralizing Bitcoin Mining Pools w/ Bitcoin Mechanic | Bitcoin Fundamentals
