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Happy Monday and Merry Christmas Folks! (Today is also my brother's birthday! Happy Birthday K!) Bitcoin is trading down at $43,214.83. Over the weekend Bitcoin pulled back a little but have gotten back above $43,200 which many believe would spell trouble if it closes below that level. Trending news this morning is the SEC sets deadline for spot Bitcoin ETF updates on Dec. 29.(3) Let's get to today's news...
5 things to know in Bitcoin this week (Cointelegraph):
- BTC price dices with crux $43,000 level at Christmas
- 2023: Bitcoin bounces back in classic style
- Macro markets wrap up a year of rate hikes
- How good do Bitcoin miners really have it?
- Greedy for gains this Christmas
The Bitcoin (BTC) price has increased by 160% this year, reaching its yearly high on December 8 and while the weekly Relative Strength Index (RSI) is bullish, the daily one has shown bearish signs.(2) Bitcoin ($BTC) painted an ominous doubletop pattern on the chart as Bitcoin struggles to break the local resistance level. Data shows a potential Bitcoin price drop to $37,000 if the $43,200 support isn't maintained. Bitcoin adds 70,000 millionaires in 2023.(2)
Bitcoin critics, all with thousands of followers, have pronounced the flagship decentralized finance (DeFi) asset ‘dead’ seven times in 2023, adding up to the total tally of 474 times so far, according to the data from the cryptocurrency market information platform 99bitcoins on December 25. Russia Sets Date for Bitcoin Law! "BTC Payments Will Be Legal on This Date!"
Bitcoin's foundational purpose and importance are at risk as the cryptocurrency faces increasing integration into mainstream financial products like spot ETFs, according to Second Foundation CIO Ben Hunt. Industry leaders see Hong Kong as next bitcoin ETF hub amid US approval anticipation.(2) According to Arthur Hayes, as soon as a handful of firms hold all the bitcoin, there will be no actual use for the blockchain, and the coins will never move again.(2)
Solana ($SOL) added a new record to its records! Will the rise continue?
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Podcast of the Day: 202 - The Year of the Crypto ETF with Cathie Wood | Bankless
