BlackRock Expects Spot Bitcoin ETF Approval on Wednesday
The spot Bitcoin ETF application of BlackRock, the world’s largest asset management company, is expected to be approved by the US Securities and Exchange Commission (SEC) on Wednesday. BlackRock is one of several companies that have applied for a spot Bitcoin ETF, along with Grayscale Investments, Valkyrie, ARK 21Shares and Invesco. The approval of a spot Bitcoin ETF is expected to help cryptocurrencies become more accessible to institutional investors and help the market grow further. This news had a positive impact on the price of Bitcoin, and on the morning of January 8, 2024, the price of Bitcoin rose above $46,000.
Bitcoin ETFs Seen as 5% Likelihood of Rejection
The United States Securities and Exchange Commission (SEC) is thought to be very close to making a decision on approving the Bitcoin ETF. According to Eric Balchunas and James Seyffart, Bloomberg’s leading ETF analysts, the probability of ETF rejection is only 5%. Last week, the probability of rejection was seen at 10%.
Cardano (ADA) Developers Step Up Efforts Despite DeFi Crisis
According to recent research, Cardano has the highest developer activity of all blockchains. However, there is a noticeable disconnect between this burgeoning activity and the decentralized financial landscape. Some unexpected networks were listed in the latest list of crypto development activities by blockchain analytics company Santiment. According to on-chain statistics, Cardano has had an average of 449 daily updates on GitHub over the last 30 days.
Celsius to Unstake Thousands of Ether
Last week, Celcius transferred more than 30,000 ETH to custodian Fireblocks. Some of this amount was deposited on the cryptocurrency exchange Coinbase. The firm had previously said it would include staking in its operations. Celcius is now turning into a Bitcoin miner. To cover the costs associated with the restructuring plan, the company is offering its staking rewards for sale on the open market.
Solana’s NFT Trading Volume Declines while Polygon’s Increases
Solana’s NFT transaction volume fell by 17% and total sales amounted to $4.5 million. On the other hand, Polygon’s trading volume increased by 84%, totaling $9 million. In addition, when Ethereum is analyzed, it is seen that it reached 13.4 million with a 29% increase in NFT sales.
CBDC Move by the Bank of Spain
Spain’s central bank, Banco de España, has decided on three partners for cooperation to test its central bank digital currency (CBDC) over the next six months. Out of a total of 24 applicants, Banco de España chose local banks Cecabank and Abanca, with UK-based blockchain company Adhara Blockchain coming in third.
VanEck to Donate 5% of ETF Profits to Bitcoin Core Developers for 10 Years
Investment firm VanEck announced on January 5 that, subject to approval, it will donate 5% of the potential profits from the proposed spot Bitcoin ETF to support Bitcoin core developers working at Brink.
Honduras’ Próspera Region Recognizes Bitcoin as a Unit of Account
Less than two years after Bitcoin was accepted as a legal tender, Próspera, a special economic zone in Roatan, Honduras, has officially recognized Bitcoin as a unit of account. Bitcoin can now be used to measure the market value of goods and services. In a post on X on January 7, Colindres, the acting administrator of the Próspera region, said the aim was to offer greater financial freedom to individuals and businesses operating in the region.
———————————————————————————
BITCOIN(BTC)
Bitcoin is priced at $ 43,632 with a 0.65% loss in value as of today morning hours. 43,150 dollars is working well as support for the moment. This week we will see the pricing of ETF approvals in general. An approval process is expected by Wednesday. Below $42,300 would take us down to $40,400 in the first stage and may be likely to work as support. In pricing above $43,500, $44,400 must first be exceeded. After this level is exceeded, we may encounter rises up to $ 48,000.
ETHEREUM(ETH)
ETH, which lost 1.14% as of morning hours, is priced at $ 2196. While it continues its movement between $ 2400 and $ 1258, we are at the lowest support position of the horizontal band formed. With the reactions it will receive from here, it can realize an increase up to $ 2280. In the loss of $ 2158, $ 2100 is the first support position and a retreat to this level may be experienced.
RIPPLE(XRP)
XRP is priced at $0.5569 with a 1.3% gain as of morning hours. After losing the $0.60 support, it seems to have lost the lowest support in the horizontal band formed. 0.54 dollars is the next support position from here, and if there is a reaction from here, an increase up to 0.60 dollars can be seen again.
AVALANCHE(AVAX)
AVAX is priced at $ 32.48 with a 3.45% depreciation as of morning hours. For the moment, $31.50 is working well as support. If this level works as support, there may be rises up to $ 40. In the downward pricing of $ 31.50, pullbacks up to $ 28.50 can be seen.
SOLANA(SOL)
SOL is priced at $ 88.85, down 0.69% as of morning hours. When we examine the four-hour chart, we see that the $ 93 level, which is the support zone, is broken downwards and there is a retreat to the $ 87 zone. If SOL, which has received some reaction from this region, continues its upward movement, the $ 95 level can be tested again. If the retreat continues, the $ 80 region appears as an important support.
CHAINLINK(LINK)
With a 0.48% gain in value as of morning hours, LINK is priced at $ 13,210. When we examine the daily chart, we see that there is a horizontal movement between the $ 13,300 and $ 17 levels. We see that the 13,300 region, which was the support zone with the retreat experienced at the weekend, was broken downwards. With the retreat, the 12,500 region was tested and there was some rise from this region. If this movement continues, the $ 14 level appears as an important resistance.
MKR
MKR is pricing at $ 1810 with a 3.30% gain as of morning hours. When we examine the daily chart, we see that the upward movement continues after some retracement after the upward breakout. In case of persistence above the $1800 zone, which is an important level, first the $1850 and then the $1900 levels can be tested. In case of a pullback, 1800 and 1760 levels can be followed as support.
ENS
As of morning hours, ENS is priced at $ 13.42 with a 14% gain in value. When we examine the hourly chart, we see that the 11.60 region, which is the support zone with the retracement movement experienced at the weekend, was tested and an upward reaction was taken. In addition, the falling trend line was also broken. If this upward movement continues, the $ 14 level can be tested. In case of a pullback, the $ 13 level can be followed as support.
