Bitcoin Rises Above $45,000
Bitcoin rose above the $45,000 level on Tuesday morning in anticipation of the potential approval of spot Bitcoin ETFs in the US. The bullish move came after the SEC notified applicants whether it would approve spot Bitcoin ETF applications as early as Tuesday or Wednesday, ahead of the January 10 deadline.
Bitcoin Exchange Reserves at the Lowest Level in the Last Few Weeks
The value of Bitcoin exchange reserves fell to its lowest level in several weeks. This suggests that investors are looking to hold Bitcoin for the long term as a strategy, thus reducing the value of Bitcoin exchange reserves. According to the data, the average amount of Bitcoin on major centralized exchanges hovered around 2.04 million units for most of December. However, the withdrawal of 33 thousand Bitcoins from exchanges in recent weeks shows that investors have long-term plans to hold Bitcoin.
Major Token Unlocks Continue in January
More than 20 cryptocurrencies will be unlocked in January. The total value of unlocking is over 600 million dollars. The biggest unlocking of January will take place in Aptos on January 12 with $234 million. When we examine the unlocking of other coins, APE will take place on January 17, INJ on January 21, AXS on January 27.
Bitwise Announces $200 Million Seed Financing
Bitwise updated its S-1 filing before the SEC’s December 29 deadline for spot Bitcoin ETF filings and announced $200 million in seed financing. The value of this investment is 20 times higher than BlackRock’s previously announced seed funding of $10 million.
FTX Founder Sam Bankman-Fried Won’t Face Second Criminal Case
FTX founder Sam Bankman-Fried will not face a second criminal trial, federal prosecutors said in a letter sent to New York Federal Court on Friday. In the letter, prosecutors argued that a second trial would delay a timely and fair resolution of the case.
Bitcoin ATM Number Continues to Decline
The number of Bitcoin ATMs is down 11.1% compared to the number of Bitcoin ATMs at the beginning of 2023. The upward trend since 2013 ended at the end of 2022 and the number of ATMs dropped from 37,827 to 33,628 in 1 year. The biggest decline was in the US. In the US, the number of ATMs fell by 15.4% from 32,672 to 27,631. The US still has 82% of the world’s Bitcoin ATMs.
Avalanche Association to Invest in Meme Coin Collection
The Avalanche Association announced that it will invest in a meme coin collection as part of its Culture Catalyst program. In their post on Twitter, they announced that they will make such an investment in order to make their portfolio more complete. The association announced that they will select the collection to invest in by paying attention to the number of investors, liquidity data, the age of the project, launch principles and the level of social sensitivity.
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BITCOIN(BTC)
Bitcoin is priced at $ 45,241 with a 2.38% gain in value as of today morning hours. After breaking the horizontal structure between $ 40,500 and $ 44,500, we left the $ 45,000 level behind. In case of a pullback, the upper part of the horizontal band may work as support. The $48,200 level can be seen with the support it will receive from $44,500. In case of breaking down $ 44,500, there may be a pullback up to $ 42,430.
ETHEREUM(ETH)
ETH, which gained 1.10% as of morning hours, is priced at $ 2378. It seems to have received a reaction at $2400. The retracement from here could take the price back up to $ 2280. If persistence above $ 2400 is achieved, rises up to $ 2500 can be seen.
RIPPLE(XRP)
XRP is priced at $0.6303 as of morning hours, down 0.16%. At $0.6060, it seems to have received support again. 0.64 dollars is a zone that can work as resistance, and in case of a break above it, an increase up to 0.72 dollars can be seen.
AVALANCHE(AVAX)
AVAX is priced at $ 42.56 with a 1.53% gain in value as of morning hours. After receiving support from the $ 38 level, it has provided persistence above $ 40. 45 dollars could work as resistance. At pricing above $ 45, an increase up to $ 55 can be seen. Pricing below $ 40 may see a drop to $ 32.
SOLANA(SOL)
SOL is priced at $112.47 with a 2.42% gain as of morning hours. When we examine the hourly chart, we see that the resistance zone of 110 dollars has been broken upwards. If this movement continues, a movement towards 115 and then 120 dollars can be seen. In case of a pullback, 108 and 105 dollar levels can be followed as support.
CHAINLINK(LINK)
With a 1.78% gain in value as of morning hours, LINK is priced at $ 15,805. When we examine the hourly chart, we see that the resistance zone of 15.600 is broken upwards. If this movement continues, the $16,200 level, another resistance zone, may be tested. If this level is exceeded, there may be an increase up to $ 17. In case of a pullback, the 15,500 level may be tested.
NEAR
NEAR is priced at $3.965 with a gain of 4.5% as of morning hours. When we examine the four-hour chart, we see that the resistance zone of 3.88 has been broken upwards. If this movement continues, a movement up to the 4.2 region can be seen. In case of a pullback, the 3.7 level can be followed as support.
RNDR
RNDR is priced at $ 4.9330 with a gain of 4.08% as of morning hours. When we examine the four-hour chart, we see that there is an increase from 4.40 to 4.90 with the upward breakout movement. If this movement continues, the 5.2 level may be tested. In case of a pullback, the 4.8 level can be followed as support.
