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bitcoin price fell 3.4% in the last 24 hours bitcoin“>trading at $41,475 at 11:05 pm EST, with daily trading volume increasing 43% to $27 billion.
This drop in btc price comes as JPMorgan warns that the value of bitcoin may continue to fall in the coming weeks if Grayscale bitcoin Trust (GBTC) investors continue to sell their holdings.
bitcoin Price Could Face More Pressure With GBTC Profit Taking, Says JPMorganbitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin btc?src=hash&ref_src=twsrc%5Etfw”>#btc #tafouio #cryptonews pic.twitter.com/RiZ2oG84Gn
— tafou.io (@tafouio) January 18, 2024
Investors in GBTC have been cashing out since bitcoin ETFs were approved last week, either to move into new funds with lower fees or simply to hold btc.
If JP Morgan's estimate that Grayscale will sell $3 billion worth of bitcoin turns out to be correct, another $1.5 billion could be ready to leave bitcoin.
bitcoin Price Bulls Eye Bounce at $36,392
bitcoin price bulls have received rejection at the $49,000 mark, which allowed the bears to apply downward pressure, causing the price to drop and break above the lower boundary of the ascending channel.
The price has also fallen below the 50-day SMA, coinciding with the lower boundary of the channel. However, it has managed to stay above the 200-day SMA, indicating the probability of a rebound and is supported by the SMA crossing at $28,500, affirming the bullish momentum.
The Relative Strength Index (RSI) is also trading lower below the neutral 50 level, indicating intense selling pressure.
bitcoin price in a downtrend
bitcoin price is in a downward trend. If the momentum sustains, the price could reach a level of $36,392, the X distance of the ascending channel. This level indicates a double bottom pattern, allowing the bulls to push the price higher, anticipating reclaiming the previous high of $49,000..
The downtrend is a great opportunity for investors to add more btc to their portfolios. However, some investors looking for other ways to play this complicated market are jumping into bitcoin Minetrix. Its token, BTCMTX, looks set to explode this year when it lists on exchanges.
bitcoin Minetrix (BTCMTX) Pre-Sale Nears $9.5 Million Target with Over $8.8 Million Already Secured
He bitcoin Minetrix (BTCMTX) The pre-sale has exceeded 8 dollars. 8 million in funds raised as it moves towards its goal of $9.5 million. But there are only 47 hours left until the price, currently at $0.0129, up.
Great achievement for #BitcoinMinetrix!
Exceeding the $8,600,000 milestone! pic.twitter.com/r3i9wdtSbg
—Bitcoinminetrix (@bitcoinminetrix) January 17, 2024
bitcoin Minetrix is a cloud mining platform that allows users to participate in decentralized bitcoin mining. through the gamble function to mine, giving users full control over their mining activities.
The platform helps users avoid being scammed by third-party cloud mining platforms.
To mine on the BTCMTX platform, you need an ethereum-compatible wallet like MetaMask to purchase and stake BTCMTX tokens.
Exploring the advantages of btc?src=hash&ref_src=twsrc%5Etfw”>#btc cloud mining!
Beginner Experience: No technical knowledge needed.
Economical: avoid high electricity and hardware costs.
Say goodbye to space limitations, noise and thermal disturbances.
Forget about resale worries! pic.twitter.com/MlwYKwoKLa—Bitcoinminetrix (@bitcoinminetrix) January 13, 2024
Get BTCMTX Now and Win $3000 Reward in Minedrop Contest
The platform has been running a $30,000 Mine Throwing Airdrop Contest since its conception. To participate in the airdrop, you must purchase BTCMTX tokens. You have a chance to be one of ten lucky winners to receive a $3000 reward.
Furthermore, when you stake your tokens, you can also earn rewards, the payout of which is based on the proportion of your stake in the staking pool and an annual salary yield of 74%. Currently, more than 560 million tokens have already been staked.
Zach Humphries, a crypto analyst on YouTube with over 123,000 subscribers, introduced BTCMTX in a recent video. He explains the advantages of taking advantage of his mine share feature and emphasizes that the optimal way to profit is by purchasing the pre-sale in advance.
To join the pre-sale, visit the BTCMTX website, connect your digital wallet and exchange your eth or USDT for BTCMTX tokens. You can also buy directly with your bank card.
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