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It's Frriiddaayyyy Folks! Bitcoin is trading down at $43,752.29. Bitcoin is trying to find it's footing ahead of the Spot ETF announcement; still no clear direction on which way it will go. Let's get on with the news...
SUMMARY
Yesterday, Solana ($SOL) market cap flips XRP, Spotify, and Electronic Arts; makes another yearly high.(9) Today, Solana ($SOL), which has experienced an unstoppable rise since October, has reached nearly the $ 100 mark.(6)
While 2023 put crypto in a tough spot, analysts remain positive that the industry will continue to grow, with some predicting that the number of users will reach nearly a billion in 2024. Hong Kong is getting ready to pave the way for spot crypto ETFs, with its financial regulator saying today that it is prepared to start accepting such applications.(4)
Bitcoin price is gaining pace and trading above the $44,000 resistance. BTC could continue to rise once it clears the $44,500 and $45,000 resistance levels. Bitcoin set for first-ever weekly Golden Cross; Start of BTC bull run? Despite the overall bullish sentiment, giant whales are adding to their bearish positions at a time of high market sentiment.
$1.1 billion worth of Bitcoin options contracts set to expire with a put/call ratio of 0.70, indicating more longs expiring than shorts. Bitcoin's momentum continues unabated, the recent milestone of surpassing 50 million nonzero-balance addresses confirms this thesis. In a surprising turn of events, Bitcoin (BTC) whales have offloaded a staggering $2.20 billion worth of Bitcoin in the span of just one week. According to crypto analyst Ali, approximately 50,000 BTC were sold during this period, raising questions about the motives behind such significant movement on the market.(2)
Spot Bitcoin ETF approval ‘still happening’ by Jan. 10, analysts say.
Has Ethereum finally bottomed vs. Bitcoin? ETH price technicals hint at gains; pops 4%. BitMex founder Arthur Hayes shifts gears from Solana (SOL) to Ethereum (ETH) after divine revelation, foreseeing ETH hitting $5,000.(5) Paxos has received approval from the New York Department of Financial Services (DFS) to expand its services to the Solana blockchain. The Cardano (ADA) price has increased swiftly since October. It broke out from two long-term horizontal resistances. While the weekly time frame Relative Strength Index (RSI) and price action are bullish, the daily wave count is bearish.
In a significant development, the Securities and Exchange Commission (SEC) convened with applicants seeking approval for spot Bitcoin Exchange-Traded Funds (ETFs) today, according to Eleanor Terrett and Charles Gasparino of FOX Business.
‘MS Drainer’ scammers used Google Ads to swipe $59M in crypto.(2) Ikigai sold its FTX bankruptcy claim, Travis Kling says.(2) Judge orders Craig Wright to pay over $1M, accepts new evidence over Satoshi’s identity. Bulgaria ends investigation into crypto lender Nexo, finding no criminal activity.(3) SEC Admits to Making Misleading Claims in Cryptocurrency Case, Apologizes.(2)
What is crypto malware, and how to detect it?
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Podcast of the Day: 10 Crypto Predictions for 2024 [Part 1] | TB
