Although erratic, this phenomenon has been noted in the historical performance of Bitcoin in December. Alex Kruger, an economist, recently emphasized this trend when he declared the Santa Rally is finally here.The recent recovery of Bitcoin’s price following a decline to the 50 EMA appears to support his assertion. Because of the stability of this support level, which is around $94,500, Bitcoin has been able to recover toward $98,000, rekindling expectations for a higher year-end. At the moment, the Bitcoin chart shows a possible change in momentum. Bitcoin has increased in proximity to the psychological $100,000 threshold after plunging to a crucial support level. But things are not quite going smoothly yet.The modest volume that has accompanied the upward move thus far indicates that, in the absence of more robust buying pressure, the rally may lose momentum. Regaining the $100,000 mark would be a huge psychological victory for Bitcoin if it keeps rising, possibly paving the way for future gains.However, if the price does not rise above $100,000, there may be consolidation or even a retest of the $94,500 support. Should that level be broken, Bitcoin may move toward the next significant support level, which is $85,000. There is a surge of optimism following the Santa Rally, but traders should exercise caution.Although a wider bullish phase may begin with the rally, cautious expectations are advised due to the lack of strong volume and ongoing market uncertainties. The resilience of Bitcoin at critical levels gives some hope for the time being, but whether or not this holiday cheer has enduring momentum will be determined over the coming days.This article was originally published on U.Today More
With the Christmas season approaching, HTX has launched the 3rd phase of its limited-time “Borrow & Earn” event to thank the users for their support and trust. The event kicked off at 02:00 (UTC) on December 23, with the prize pool doubled to 10,800,000,000 $HTX (double the amount of the prize pool in the 2nd phase).Experiencing HTX Crypto Loans and Sharing in a Prize Pool (NASDAQ:POOL) for a Limited TimeHTX’s Flexible Crypto Loans product continues to deliver value for users with its low interest rates, high flexibility, and zero fees. This product adjusts interest rates in real-time based on market changes, offering users competitive borrowing options with minimal investment costs.HTX has officially announced that the 3rd phase of its limited-time “Borrow & Earn” event would run from 02:00 on December 23 to 15:59 on December 31 (UTC). The prize pool for this phase has been doubled to 10,800,000,000 $HTX, offering users a special Christmas gift.Users who borrow USDT through Flexible Crypto Loans (loans in other assets are not eligible for this event) will share in the prize pool based on the proportion of their cumulative interest expenses during the event. The higher user’s cumulative interest expenses, the greater their rewards. The $HTX rewards from the prize pool will be credited to participants’ Spot accounts within 7 business days after the event ends.Recap of Previous Highlights and a Glimpse of the FutureThe 2nd phase of HTX’s “Borrow & Earn” event has concluded successfully, distributing a total of 5,400,000,000 $HTX in rewards and achieving record-breaking lending volumes. Here’s a recap of the previous “Borrow & Earn” events:In the 1st phase (December 2 – December 8), the prize pool was 2,700,000,000 $HTX. The event attracted numerous participants to experience the innovative borrowing model with its newly launched Flexible Crypto Loans product;In the 2nd phase (December 12 – December 18), the prize pool doubled to 5,400,000,000 $HTX, and the USDT lending volume hit new highs, solidifying the leading position of Crypto Loans in the industry.Building on the enthusiasm of users from the first two phases, the 3rd phase has been upgraded again, doubling the prize pool to 10,800,000,000 $HTX.Borrow & Earn: Participation and RewardsA key benefit of the “Borrow & Earn” event is that users can share in the platform’s growth through regular borrowing without any complex operations. This event focuses on USDT flexible loans, aiming to attract users with more efficient and transparent rules.For participation, users can log in to HTX via the web and navigate to Loans > Crypto Loans, or log in to HTX App, tap More > Crypto Loans, choose a Flexible product, and click Borrow Now to start borrowing. HTX will continue to foster a win-win environment by promoting product innovation, aiming to build a better future of blockchain finance for everyone.About HTXFounded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.As a world-leading gateway to Web3, they harbor global capabilities that enable them to provide users with safe and reliable services.HTX’s growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins their commitment to providing quality services and values to virtual asset enthusiasts worldwide.Company WebsiteContactRuder Finn [email protected] article was originally published on Chainwire More
Declining highs and lows within a narrow channel are characteristics of the descending flag. The steadily declining trading volume during this phase is a positive indicator despite the fact that it may appear concerning. When volume decreases and prices fall, it usually indicates that there is not much selling pressure. This could indicate that consolidation rather than a long-term bearish trend is driving the downward movement. The 26 EMA is a significant support level for XRP, and any bullish recovery depends on its ability to stay above it. A recovery from this level might cause XRP to return to testing resistance at $2.40. If this level is broken, it may open the door for a move toward the $2.60-$2.80 range, which is home to more resistance. On the other hand, if the 26 EMA is not maintained as support, XRP may test lower. The 50 ,which is at $1.69, may be revisited in the event of a breakdown. Selling pressure may increase if this occurs because market sentiment may turn even more bearish. Investors should closely monitor the flag pattern’s breakout direction. It could be the beginning of a new rally if XRP can break higher with more volume. In the midst of the consolidation, the declining volume trend provides some hope that XRP may be preparing for its next significant move. While the market awaits confirmation, patience and prudence are still crucial. DOGE is currently trading at about $0.32 on the price chart, which has offered short-term support but is not likely to hold in the long run. The 50 EMA has already been broken, indicating that the bullish momentum is waning. If selling pressure increases the 100 EMA, which is located at about $0.283, could serve as a safety net. DOGE’s price does not currently have the upward momentum required for a proper recovery. Since speculative interest in meme coins has decreased, the general sentiment of the market is also not providing much support. The price might attract buyers seeking a bargain if it falls any lower to the 100 EMA, which might lead to a bounce. But if the 100 EMA is broken, there may be a more severe drop toward the 200 EMA at $0.212. Key resistance levels should be monitored by investors who anticipate a recovery. A move back toward $0.40 or higher could be facilitated by a breakout above $0.35, which would rekindle bullish momentum. However, a broad market rally and significant buying interest are necessary for such a reversal, and these seem less likely in the current climate. The short-term path of least resistance for DOGE is probably going to be downward. Investors should prepare for additional declines before any significant reversal occurs, even though a recovery is feasible. As DOGE manages this delicate balance for the time being, patience and vigilance are essential. Although this level frequently serves as a launching pad for reversals, bullish periods have traditionally ended when it has been breached. The early 2024 rally may go down as one of the weakest in Bitcoin’s history, with gains of only about 60% from its previous all-time high if the cryptocurrency is unable to maintain this support. This performance is rather disappointing for a cryptocurrency that has seen exponential growth in the past. Notwithstanding these worries, Bitcoin’s drop to the 50 EMA does not necessarily mean that its upward trend will come to an end. A recovery from this point might boost self-esteem and even spark a new rally. To make sure the market keeps moving higher, bulls will be looking for a robust recovery above the psychological $100,000 threshold.Conversely, Bitcoin may test lower levels like the 200 EMA around $75,000 if it continues to decline below the 50 EMA. In addition to signaling the end of the current bull run, this would also set a negative tone for the upcoming months. When compared to more conventional assets, a 60% gain is still impressive, even though it may seem small for Bitcoin.This article was originally published on U.Today More
Primarily, the figure is staggeringly huge. To Park, it sounds absurd for a company to invest $3 trillion into an asset. Interestingly, the total market capitalization of Bitcoin currently at the market price is less than $2 trillion. Hence, pulling such a move would be almost impossible, as MicroStrategy is worth about $85 billion.Beyond the surface, Park also addressed critical issues among some potential investors holding back from MSTR due to the price fluctuations of BTC. He referenced a previous post explaining the fears around MSTR and its price performance relative to the crypto market.However, he assured readers that even if Bitcoin plummets to a record low of $30,000, MSTR will still not crash to zero. Park highlighted that MicroStrategy has multiple capital extension strategies and additional levers to win in the broader market. This aligns with a U.Today report, where Adam Back, Blockstream CEO, maintains that MicroStrategy’s shares are cheap, believing they are undervalued.Furthermore, Park maintains that investors need to avoid being bearish with MSTR every time the price of Bitcoin drops. As of this writing, the BTC price was trading up by 3.95% at $97,548 in a surprising market rebound.This article was originally published on U.Today More
Bitcoin’s total supply is capped at 21 million coins, a design set by its pseudonymous creator, Satoshi Nakamoto. With 19.8 million BTC already mined, the remaining 1.2 million represents less than 6% of the total supply.The Bitcoin halving event, which occurs every four years, reduces the already limited supply even more. During a halving, the reward for mining new blocks is reduced by half, slowing the rate at which new Bitcoins enter circulation.The next Bitcoin halving is projected to occur on April 17, 2028, at a block height of 1,050,000. When this happens, the Bitcoin block reward will be slashed to 1.5625. The last Bitcoin halving occurred on April 20, 2024, at block height 840,000, with the Bitcoin block reward halved from 6.25 to 3.125.With less than 1.2 million BTC left to mine, experts predict that the last Bitcoin will be mined around 2140, based on the current pace of block production and the halving schedule. This long-term horizon guarantees that Bitcoin’s scarcity will remain a distinguishing quality for decades to come.However, in the past, this tendency has only lasted during bull markets, attracting new buyers who saw it as an opportunity.Recent on-chain data, according to CryptoQuant, also reveals an interesting trend: although considerable amounts of Tether (USDT) are leaving exchanges, a large inflow of Bitcoin (BTC) has been detected entering exchanges. Furthermore, despite the recent dramatic price decline, spot markets are experiencing continued selling pressure.This confluence of reasons suggests that Bitcoin’s price could fall further in the immediate term. However, from a macroeconomic standpoint, there does not appear to be a catalyst for a sustained bearish trend following this short-term correction.At the time of writing, Bitcoin was trading at $94,856.This article was originally published on U.Today More
Saylor called it a Bitcoin “gift” to the company’s shareholders.Thus, the MicroStrategy’s founder has stressed the company’s commitment to increasing shareholder value by means of strategic Bitcoin accumulation and yield-generation strategies. The company’s strong treasury management and its strategy focused on Bitcoin as a store-of-value have earned it a leading position among publicly traded companies that are embracing Bitcoin.As of now, Michael Saylor’s company holds a whopping 444,262 BTC valued at roughly $27.7 billion bought at $62,257 per BTC on average.Earlier today, Saylor published a tweet, in which he defended his company’s Bitcoin accumulation strategy, saying that if you do not buy BTC at the top, you “leave money on the table.”This article was originally published on U.Today More
