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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $43,052.25. Yesterday was looking grim as Bitcoin was pulling back and then out of no where, pop! As the year closes out the news will get sparse so, let's get on with the news...
BREAKING! MicroStrategy picks up a further 14,620 bitcoin for $615 million (5)
SUMMARY
Yesterday, Mt. Gox creditors on Reddit claim they've begun receiving payments from the exchange, nearly 10 years after it first shut down.(7) Today, Puell Multiple and Kimchi Premium signals strong resistance.(8)
Bitcoin OG Pierre Rochard Offers His 6 Key Tips for Bitcoin Users
3 Bitcoin metrics say a fresh BTC price move is 'imminent'
- Matthew Hyland predicted “imminent” bullish moves
- Bollinger bands constrict
- RSI flushes out “oversold” levels
Bitcoin's failure to breach resistance indicates a local top, with the Puell Multiple reaching significant resistance values and high Puell Multiple suggests Bitcoin is overbought, indicating a price correction may be due as miners sell coins at high prices.(2) Cryptocurrency analysis firm CryptoQuant recently shared an interesting analysis showing that the Korean Premium in Bitcoin price is overpriced. According to analysts, this could potentially signal a price peak.(2) QCP Capital predicts that Bitcoin could retrace to around $36,000 before an uptrend resumes. At the same time, they expect Bitcoin to face a topside resistance between the $45,000 and $48,500 region. Bitcoin ($BTC) inches closer to historic golden cross, analysts reveal next moves. Executives from Chainview Capital and Alt Tab Capital predict that 2024 could be a bumper year after modest growth in 2023. $10.1 billion in Bitcoin options expire on Dec. 29. Cointelegraph examines whether bulls or bears will have the upper hand.
Bitcoin millionaires multiply: Over 90,000 addresses now hold over $1 Million in BTC. MicroStrategy's big bet on Bitcoin has led to significant stock returns for investors, with the firm's stock surging 317% this year. Bitcoin dominance is back to 2-month lows, fueling an altseason.
Hedge funds in the crypto space are reportedly gearing up for what some think could be a positive year for digital assets markets. SkyBridge Capital CEO Anthony Scaramucci is predicting the crypto king Bitcoin (BTC) will reach new all-time highs ($69K) by this time next year. Meanwhile, Bitcoin faces short-term price correction risks, says Bitfinex analyst.
'Smart money' is record long on BTC ahead of expected Bitcoin ETF. But, ARK Invest CEO Cathie Wood expects some investors to “sell on the news” of spot Bitcoin ETF approval in the short term, but the long-term perspective is promising. However, a spot Bitcoin ETF approval could send BTC price above $100K; she does believe it will be approved by Jan 10th. Spot Bitcoin ETF could result in ‘millions of unbacked BTC,’ analyst says. Top market investor and CEO of Lumida Wealth Management Ram Ahluwalia believes this move might have just increased the chances of Grayscale Investments getting its application to convert its flagship Bitcoin Trust into a spot Bitcoin Exchange Traded Fund (ETF).
Taproot Wizards launches script so haters can now reject Ordinals on Bitcoin.
An analyst, ETC Group Head of Research André Dragosch, forecasts that ether could outperform bitcoin in 2024, citing factors like deflationary mechanisms and the attraction of staking yields. Ethereum network activity surges with a 17.5% increase in new addresses, potentially signaling a bullish price trend. The BNB price broke out from a 770-day descending resistance trend line this week, moving above $300 as a result and the weekly and daily time frame Relative Strength Index (RSI) both support the continuing of the upward movement.
Tether mints $8,000,000,000 in $USDT on Ethereum ($ETH) and Tron ($TRX) within three months: On-Chain Data.
Binance has announced the addition of new trading pairs, including SOL/USDC, XRP/USDC, ADA/USDC, and MATIC/USDC.
A16z, Coinbase, and Circle have invested almost $80 million to lobby for crypto-friendly political leaders ahead of the 2024 elections.
On-chain trading platform Thunder Terminal hacked for 86.5 ETH: ZachXBT(2). Thunder Terminal mitigates attack, FBI called in for investigation. Crypto ‘trading platforms’ were part of $2.2B illegal Chinese forex ring.
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Podcast of the Day: Here’s Why Bitcoin Will Pump In 2024 | TWOAS
