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bitcoin price is up 3.8% in the last 24 hours eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″>listed at $39,875 As of 06:05 am EST trading volume increased 6.7% to $31.8 billion.
This sharp rise in price and trading activity comes as more clarity comes about bitcoin holdings from new ETF managers.
BlackRock's iShares bitcoin Trust (IBIT) and Fidelity's Wise Origin bitcoin Trust (FBTC) have been leading the pack, amassing over 30,000 btc each. This has pushed its assets under management to exceed $1 billion.
In total, new ETF holdings reached an impressive 109,221 btc as of January 23, excluding Grayscale's converted GBTC fund. The combined bitcoin ETF holdings in the US now exceed 638,900 btc, which is equivalent to around $26.8 billion.
bitcoin price action has been relatively subdued since the ETF's launch. It seems that the market is still trying to digest this new information and discover its implications.
bitcoin price bounces off a falling wedge pattern
The price of bitcoin has followed a downward trend for a few weeks now, erasing some of the bull's gains accumulated towards the end of the fourth quarter of 2023.
However, the bears seem to have faced a hurdle at the support level after the bulls found a quick support level, quickly bouncing and pushing the price up within a falling wedge pattern.
Despite the Bulls' brilliant move, the 50 and 200 4-hour simple moving averages (SMA) still represent a hurdle for the Bulls to overcome.
The Relative Strength Index (RSI) indicates a rebound from the oversold region of 30, rising towards the mid-50 level at 42.
bitcoin Price Prediction: Will the Bulls Be able to Maintain the Bullies Rally?
The falling wedge pattern could give bitcoin bullish investors a small boost to break above the $44,690 resistance which could confirm a bullish rally in the coming weeks.
However, the price may fall to $35,690 if the bears continue to put pressure on the price. This support level indicates another possible double bottom pattern, which traders often use as an uptrend reversal signal, anticipating a recovery from the previous high of $49,102.
As traders look to leverage this position to add more orders, investors are turning to bitcoin Minetrix to diversify their portfolio and analysts predict it has the potential to explode upon launch.
BTCMTX pre-sale surpasses $9.1 million with 48 hours left in stage 21
The bitcoin Minetrix (BTCMTX) The pre-sale has raised more than $9.1 million in raised funds as it moves toward its $9.9 million goal.
You can join other investors to purchase BTCMTX tokens at $0.013 before the price increases in about 41 hours.
#BitcoinMinetrix Stage 21 has officially begun!
What role do you see? #CloudMining playing in the future bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining? pic.twitter.com/XEaz8ZL4Qi
—Bitcoinminetrix (@bitcoinminetrix) January 21, 2024
bitcoin Minetrix is a cloud mining platform that gives users full control over their mining efforts. Through the stake-to-mine functionality, it allows you to participate in decentralized bitcoin mining and protect yourself from third-party cloud mining platform scams.
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
Earn passive income through betting and win a share of the $30,000 prize pool
You can dive into a dual opportunity that combines the benefits of earning rewards through staking and BTCMTX. Minedrop Airdrop Competitionwhich offers the opportunity to compete for a $30,000 prize pool, where you could be one of ten lucky winners to receive a $3,000 reward.
Betting allows you to earn rewards in the betting pool and an annual return of 72%. Currently, more than 581 million tokens have already been staked.
Zach Humphries, a crypto analyst on YouTube with over 123,000 subscribers, explains the benefits of taking advantage of its stake-to-mine feature. He points out that purchasing the pre-sale in advance is the optimal way to reap the greatest benefits.
To purchase BTCMTX tokens, 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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