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He bitcoin price is up 1.2% in the last 24 hoursbitcoin“> listed at $43,849 At 7:50 a.m. EST, trading volume fell 11% to $32 billion.
The rise comes as Peter Schiff, a renowned bitcoin critic and gold advocate, warns that the approval of spot bitcoin ETFs could trigger a sharp correction.
Be careful what you wish for. The promise of a sought-after spot in the US #BitcoinETF has been supporting the bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin price and speculative demand for years. Once ETFs are launched and the much-anticipated institutional and new investor demand does not appear, be careful ahead!
—Peter Schiff (@PeterSchiff) January 2, 2024
Schiff says the prospect of bitcoin spot ETFs has supported the price of bitcoin for years and warns that institutional demand for the product may not materialize.
bitcoin Price: Bulls Trade Bullish Pennants
bitcoin price has formed a bullish pennant, indicating an uptrend that continues above the $45,000 threshold.
The overall momentum remains bullish as it maintains its position above the 50-day and 200-day SMA.
The Relative Strength Index (RSI) is also trading lower, approaching the mid-50 level at 59. However, with some momentum, the RSI could reach the overbought level of 70.
bitcoin Price: Bulls About to Break $45,000 Resistance
The presence of the bullish pennant offers an opportunity for the bulls to push the price higher. The bulls are working hard to regain lost gains, indicating a rebound at the $42,000 level.
Sustained momentum could help break through the $45,000 resistance, pushing btc price higher as bullish investors focus on reaching the $50,000 mark (as marked by the arrow).
As bitcoin traders await the breakout, investors are rushing to buy the bitcoin derivative BTCMTX as they anticipate the approval of bitcoin spot ETFs.
bitcoin Minetrix pre-sale nears $7.9 million target
bitcoin Minetrix (BTCMTX) has successfully raised $7.5 million in its pre-sale initiative, moving towards its goal of $7.9 million. Investors have approximately 19 hours left to participate in the pre-sale at the current exchange rate of $0.0126.
Exciting update! #BitcoinMinetrix proudly reveals another important milestone: surpassing $7,500,000 raised! pic.twitter.com/r4LHnlqd4T
—Bitcoinminetrix (@bitcoinminetrix) January 5, 2024
As an investor, the BTCMTX platform allows you to use the staking to mine feature to generate passive income. Furthermore, holding BTCMTX tokens guarantees a substantial Annual Percentage Yield (APY) of 86%.
The platform has also created a $30,000 mine drop airdrop competition that you can enter for a chance to win a $3,000 reward among ten eligible winners.
Conor Kenny, crypto analyst and YouTuber with over 173,000 subscribers, shares valuable insights on how to acquire bitcoin Minetrix and optimize returns through its mine staking functionality.
You can participate in the pre-sale by visiting the BTCMTX website and connect your digital wallet to exchange your eth or USDT for BTCMTX tokens or purchase directly with your bank card.
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