Latest Posts by moneylinksme - Page 2
Bitcoin Price Declines 8% but Bulls Active above $40,000
The price of Bitcoin experienced a sharp decline after reaching close to $45,000, dropping over 8%. However, there seems to be some bullish activity above the $40,000 level. Bitcoin is currently trading below $43,500 and the 100 hourly Simple Moving Average. A key bullish trend line with support near $43,500 was broken, indicating bearish signs.
Bitcoin had been in a bullish zone after surpassing the $40,000 resistance, steadily rising above $42,000 and $43,000. The price even reached above $44,000 but failed to test the $45,000 resistance. It then began a swift downward correction, falling below $44,000. Additionally, there was a break below the crucial bullish trend line near $43,500.
The BTC/USD pair dropped below the 50% Fib retracement level of the upward movement from its swing low of $39,398 to the high of $44,699. Bitcoin is currently trading below both $43,500 and the 100 hourly Simple Moving Average. However, the $40,000 support level and the 76.4% Fib retracement level are being defended by the bulls. The price is currently attempting a recovery but is facing resistance near $42,400.
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BitcoinPrice #BearishSigns #BullishMomentum #Cryptocurrency
The Rise Of Ordinals And NFTs On The Medium Of Bitcoin
The Ordinals protocol was introduced to Bitcoin in early 2023 at a most opportune time. Bitcoin had nearly two years of low transaction fees from the lack of demand to actually send Bitcoin transactions. Bitcoin is considered to be the most secure blockchain in the world, but that security depends on miners who receive their revenue from transaction fees and block rewards. As part of the…
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MicroStrategy Buys An Additional 16,130 Bitcoin For $593 Million
MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 16,130 BTC at a total cost of $593.3 million, Founder & Chairman Michael Saylor announced today. The purchase came as Bitcoin’s price has been experiencing upward momentum, reaching a recent yearly high of over $38,300. The company initially entered…
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Yeah, right...🤦♂️😆
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#EarnMoneyOnline #BTC #Bitcoin #cryptocurrency #CryptoNews
Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K
The price of Bitcoin (BTC) briefly fell below $41,000 following a sudden 6.5% drawdown from $43,357 to as low as $40,659 in just 20 minutes at 2:15am on Dec. 11 (UTC). At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data. According to data from CoinGlass the brief drop caused more than $271 million worth of long positions to be…
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Digifinex Labs: Bitcoin Bulls Eye $45K, Potentially Boosting UNI, OP, TIA, and STX
The S&P 500 Index (SPX) achieved its highest close of the year last week, and Bitcoin (BTC) also hit a new 52-week high, indicating that risky assets remain strong going into the final few days of the year.
Usually, the first leg of the rally of a new bull market is driven by the leaders, but after a significant move, profit-booking sets in and traders start to look at alternative opportunities. Although Bitcoin has not rolled over, several altcoins have started to move higher, signaling a potential shift in interest.
Bitcoin Price Analysis
Bitcoin has been consolidating in a tight range near the minor resistance at $44,700, indicating that the bulls are not rushing to the exit as they anticipate another leg higher.
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Drop in Crypto Prices Cools Overheated Market and Funding Rates
The recent 4% drop in the price of cryptocurrencies, particularly bitcoin, has had a positive impact on the crypto perpetual futures market. Perpetuals are futures contracts with no expiry, and their funding rates help align their prices with the index price. Over the past week, funding rates for major cryptocurrencies reached high levels, indicating an overheated leveraged market. However, the drop in prices has normalized the funding rates and cooled the market down.
The decrease in funding rates, along with the decline in open interest in crypto futures contracts, suggests that overleveraged traders have been shaken out of the market. Funding rates become burdensome when market momentum stalls, leading overleveraged traders to exit their positions. This market correction has created a more stable and sustainable environment for the crypto futures market as it heads towards the end of the year.
This article provides insights into the recent drop in crypto prices and its impact on funding rates. The cooling of the crypto perpetual futures market is seen as a positive development, as it signals a healthier and less overheated market environment. Traders who were heavily leveraged have exited the market, and funding rates have returned to more manageable levels. This stability and normalization pave the way for a steady ascent in the market as the year comes to a close.
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Digifinex Labs: Sam Bankman-Fried’s Crypto Portfolio Would Be Up Billions This Year — Thanks to Solana
While on house arrest at his parents’ multi-million home in Palo Alto for nine months, he had limited access to a flip phone without internet connection and a laptop with restricted functionality. His $250 million bail was revoked in August due to suspected witness tampering.
Unable to open credit lines, start a business, or transact anything more than $1,000 (except for legal fees), Bankman-Fried missed out on significant gains in the crypto market. Bitcoin, up about 160% since his arrival in New York, and the total crypto market cap, which has grown by nearly $900 billion, have seen substantial increases.
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$300M crypto long liquidations — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a key week for macro markets with a bump as the weekly close gives way to a sharp 7% BTC price correction. In a fresh bout of volatility, the largest cryptocurrency broke down toward $40,000, reaching its lowest levels in a week. Arguably long overdue, Bitcoin’s return to test support nonetheless caught bullish latecomers by surprise, liquidating almost $100 million in…
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Bitcoin's Achilles' Heel? Core Developer Warns of Ordinals' Threat Amidst Rising Market Impact
The robustness of Bitcoin’s core stands in the spotlight as concerns emerge regarding a potential vulnerability within the system: ordinals. Recently brought to attention by Bitcoin core developer Luke Dashjr, these seemingly innocuous elements pose a significant concern, sparking discussions within the cryptocurrency community.
Bitcoin’s Vulnerability Unveiled by Core Developer Luke Dashjr’s insights have ignited debates online regarding the impact of ordinals on Bitcoin’s blockchain integrity. While some view these inscriptions as an evolutionary step for BTC, Dashjr has flagged them as spam, exploiting a vulnerability within Bitcoin Core. Dashjr’s tweet highlighted the exploitation of a blockchain vulnerability by inscriptions, labeling them as a threat to Bitcoin’s security. Despite concerns, he remains optimistic about resolving these issues before the upcoming v27 release next year. Market Impact and BTC Dynamics Amidst these discussions, Bitcoin’s value currently stands at $43,926.59, experiencing a marginal 24-hour decrease but marking an impressive 11.08% surge over the past week. However, the market cap dominance remains strong at 50.05%, reflecting its resilience despite the ongoing concerns. Ordinals’ Impact on the NFTs Market The sale of ordinals has set new records, notably with the recent sale of the eighth Honey Badger series inscription for 10.4 BTC on Magic Eden. This controversial yet trending addition to the BTC blockchain has sparked significant interest within the NFT community, with the Honey Badger series comprising 10K Ordinal Inscriptions. Reshaping the NFTs Landscape As the BTC market anticipates ETFs and breaches the $43,000 mark, the Ordinals’ active trading significantly contributes to BTC’s ascent. Despite concerns like the lack of smart contracts and high transaction gas prices, enthusiasm within the Ordinals community remains undeterred. Conclusion: A Dual Impact on Bitcoin While Ordinals’ evolution mirrors BTC’s growth, concerns linger about their long-term effects on the network’s security and integrity. The market impact and growing trade volumes of Ordinals indicate their substantial influence on the NFTs landscape and Bitcoin’s overall dynamics. As the cryptocurrency world grapples with this newfound vulnerability, the evolving narrative around Ordinals continues to shape the future of Bitcoin’s ecosystem. Industry observers closely monitor Bitcoin’s response and the community’s resilience amidst these emerging challenges. Read the full article
Peach Bitcoin has formally launched Peach 0.3, whereas coinciding with the one yr anniversary of the corporate. This new model introduces new options, a complete pockets that seamlessly integrates with the app, enabling customers to handle their bitcoin holdings effortlessly. With this improve, customers can ship and obtain bitcoin and fund a promote supply with only a few clicks. One standout function of this pockets is its UTXO administration accessibility, making coin management simpler for everybody. It additionally integrates an tackle checker to confirm if an tackle belongs to your pockets, guaranteeing added safety. Peach emphasizes particular person sovereignty and self-custody, and customers retain full management of their personal keys with a 12 seed phrase setup.“Some people will join Peach because they align with our values,” stated Peach Bitcoin’s co-founder, Steph. “But the mass who will use Peach will do so because it’s the best product at their disposal.”In an effort in the direction of democratizing bitcoin entry, Peach can also be increasing its attain to the International South, together with Latin America and Africa. Peach’s KYC-free resolution for buying bitcoin goals to empower people in areas the place conventional monetary companies could also be restricted. The app has built-in currencies and fee strategies from international locations together with Argentina, Colombia, Costa Rica, Chile, Mexico, Peru, Venezuela in Latin America, and Congo, Côte d’Ivoire, Nigeria in Africa. Peach can also be eager to collaborate with native Bitcoin meetups and communities on the bottom, facilitating money purchases of bitcoin and sharing income from each commerce accomplished through these meetup or group teams.With Peach 0.3, the corporate can also be releasing its verifiable supply code, permitting builders and fanatics to delve into the internal workings of the app. This initiative goals to encourage innovation and collaboration inside the Peach ecosystem. Peach app adopts the MIT-CC license to make the code verifiable whereas safeguarding its mental property and totally opensourcing tech integrations like batching transactions and Nostr integration below the MIT license.Peach Bitcoin’s key options embrace the quickest peer-to-peer bitcoin buying and selling out there, averaging simply 9 minutes to finish a contract. It employs a 2 out of two multi-signature escrow between Peach and the vendor, turning into a single signature for Peach after 30 days in case of a dispute. Person knowledge is end-to-end encrypted and saved on the person’s gadget, not on the corporate’s server. The app additionally boasts an in-app chat and dispute administration system with round the clock buyer assist and excessive purchase liquidity, that includes over 600 purchase provides obtainable always.As a particular deal with for the launch of Peach 0.3, the corporate is introducing the promo code “OPENSOURCE,” which grants customers one free purchase commerce and sats again for promoting Bitcoin.Supply: https://bitcoinmagazine.com/enterprise/peach-bitcoin-celebrates-one-year-anniversary-with-launch-of-version-0-3
“Dead NFTs: The Evolving Landscape of the NFT Market” is a new report from dappGambl, a community of experts in finance and blockchain technology. Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH), the second most-popular cryptocurrency behind Bitcoin. In practical terms, that means 95 percent of NFTs wouldn’t fetch a penny today — a spectacular crash for assets that reached a trading volume of $17 billion amid a frenzied bull market in 2021. The study estimates that some 23 million investors own these tokens of no practical use or value.
[...]
The “Dead NFTs” report observes that the nearly 200,000 NFT collections “with no apparent owners or market share” identified by the study caused carbon emissions equivalent to the annual output from 2,048 houses, or 3,531 cars.
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