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bitcoin price plummeted 2.3% in the last 24 hours bitcoin“>trading at $40,772 at 11:30 pm EST, as its trading volume decreased by 24% to $25 billion.
This drop comes after Cathie Wood's ARK Invest dumped $12.85 million worth of Grayscale bitcoin Trust (GBTC) shares from its Next Generation Internet exchange-traded fund (ETF) (ARKW).
This sale of 395,945 GBTC shares reduces ARKW's holdings to approximately $112.7 million in GBTC, representing a 6.95% weighting in the fund.
ARK's investment strategy is designed to maintain diversification, ensuring that no holding within its ETFs exceeds 10% of the fund's total market value.
bitcoin price: bulls remain optimistic
bitcoin has faced rejection at $45,000, allowing bears to lower the price in a corrective phase. If the downtrend continues, bulls should look for a safety net at $38,500.
However, btc price remains bullish, positioned above the 50-day and 200-day simple moving averages (SMA), which affirm the overall bullish momentum and establish immediate support.
The Relative Strength Index (RSI) is trading lower towards the mid-50 level at 56. If the bullish momentum sustains, the RSI may bounce off the 50 level, breaking above the overbought level.
bitcoin Price: Bulls Aim for $50,000 Peak
bitcoin price is currently in the spotlight, with bullish market participants targeting a high of $50,000.
If the bears take advantage of this corrective phase, they can put downward pressure on the price. This will trigger a pullback towards the $38,500 support level, which aligns with the lower boundary of the ascending triangle.
Investors looking for further upside potential may want to consider the BTCETF token, which has gained significant momentum and offers a compelling alternative to bitcoin.
BTCETF token: less than 24 hours to rise in price. Buy fast
The BTCETF token, an ERC-20 token created to reward holders based on the success of bitcoin ETFs, is attracting substantial attention within the cryptocurrency community after successfully raising over $3.7 million in funding and rapidly approaching its $3.86 million milestone.
BTCETF tokens are priced at $0.0066, but that will increase in just 12 hours.
El Salvador's bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Bonds gain regulatory approval for early 2024 issuance at Bitfinex Securities, a regulated division of @bitfinex.
President Nayib Bukele confirms issuance of the first quarter of 2024.
What impact do you foresee? bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoinbonds backed by El Salvador bonds $btc… pic.twitter.com/zj7Yc2f7yg
– BTCETF_Token (@BTCETF_Token) December 12, 2023
Earn passive income by staking BTCETF
Buying and holding BTCETF tokens presents an opportunity to interact with the platform. gamble featureensuring an impressive 75% Annual Percentage Yield (APY).
This attractive staking feature has caught the attention of numerous investors seeking passive income, especially as they anticipate a potential rise in the token's value following the approval of bitcoin spot ETFs.
Cilinix crypto, a YouTuber and cryptocurrency analyst, provides details on the token's potential. He says that the anticipation of the approval of bitcoin spot ETFs is generating great excitement and driving the price of BTCETF.
You can visit the official site of the bitcoin ETF to buy BTCETF tokens. Connect your Web3 wallet and exchange your eth, USDT or MATIC tokens for BTCETF tokens. Alternatively, use your bank card to purchase the tokens directly.
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