Bitcoin price extended losses and traded below the $95,000 zone. BTC is showing bearish signs and might decline heavily below the $92,000 level. Bitcoin started a fresh decline below the $95,000 zone. The price is trading below $94,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $95,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $92,000 support zone. Bitcoin Price Revisits Support Bitcoin price failed to start another increase and extended losses below the $98,000 zone. BTC gained bearish momentum below the $96,500 and $95,500 levels. The price even spiked below $92,500. A low was formed at $92,417 and the price is now consolidating losses. There was a minor increase above the $94,000 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $99,575 swing high to the $92,417 low. Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average . There is also a key bearish trend line forming with resistance at $95,000 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $95,000 level. The first key resistance is near the $96,000 level or the 50% Fib retracement level of the downward move from the $99,575 swing high to the $92,417 low. A clear move above the $96,000 resistance might send the price higher. The next key resistance could be $96,800. A close above the $96,800 resistance might send the price further higher. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level. More Downsides In BTC? If Bitcoin fails to rise above the $95,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $92,400 level. The first major support is near the $92,000 level. The next support is now near the $91,200 zone. Any more losses might send the price toward the $90,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $92,500, followed by $91,200. Major Resistance Levels – $95,000 and $96,000.
On December 24th, COINOTAG reported insights from QCP’s latest market analysis. Following last week’s significant downturn, the cryptocurrency market exhibited a period of stability as the holiday season approaches. Currently,
As we approach the end of 2023, recent announcements have sparked significant interest in the future of the crypto industry. According to Forbes, seven key forecasts for 2025 provide insights
The analytics firm Santiment has revealed how social media traders have moved their attention to Bitcoin from Dogecoin and other memecoins recently. Dogecoin & Other Top Memecoins Have Seen A Decline In Social Dominance In a new post on X, Santiment has talked about how cryptocurrency market sentiment on social media has changed amid the latest bearish downturn. The indicator of relevance here is the Social Dominance, which keeps track of the percentage of social media discussions related to the top 100 coins by market cap that a particular asset or group of assets is contributing right now. The indicator measures the degree of discussion or talk related to an asset by counting up the number of posts that are making unique mentions of it. The reason it doesn’t count up the mentions themselves is that they can provide a false picture of the trend being followed in the sector. Related Reading: Bitcoin To Top Above $168,500 Based On This Indicator, Analyst Reveals Focusing on just the posts means that a few outlier ones with hundreds of mentions can’t skew the data by themselves and the metric only registers a spike when discussion is spread across the major social media platforms. In the context of the current topic, the Social Dominance of two asset classes is of interest: the Layer 1 Top 6 and the Memecoin Top 6. The former includes the six largest layer 1 networks (that is, blockchains that handle their own security and aren’t built on top of another network, like Bitcoin) and the latter the six largest meme-based tokens (like Dogecoin). Below is the chart shared by the analytics firm that shows the trend in the Social Dominance for these two types of cryptocurrencies over the last few weeks: As displayed in the graph, the Social Dominance of the Memecoin Top 6 was high a couple of weeks ago, implying social media users were highly interested in Dogecoin, Shiba Inu, and other such tokens. Since then, however, the metric has followed an overall downward trajectory for this class of assets. It would appear that investor attention has shifted to Bitcoin and other layer 1 assets, as their combined social dominance has risen during the same period. Historically, whenever Dogecoin and other memecoins have been at the center of attention in the market, it has been a sign that the investors are becoming greedy. Related Reading: XRP Could Be The Altcoin To Recover Quickly, CryptoQuant Analyst Explains Why Cryptocurrency markets generally tend to move against the expectations of the majority, so it may not be a surprise that this greedy sentiment was followed by a downturn in the sector. The shift in Social Dominance to safer investments like Bitcoin would imply the investors are now becoming fearful. It’s possible that the sector would continue to decline in the coming days, but at least with the sentiment seeing a flip, there is more of a chance that a bottom can be reached. DOGE Price At the time of writing, Dogecoin is floating around $0.31, down more than 24% over the last seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com
MicroStrategy adds three new members to its board of directors. The company continues to purchase Bitcoin, increasing its total holdings. Continue Reading: MicroStrategy Expands Board with New Members to Strengthen Bitcoin Strategy The post MicroStrategy Expands Board with New Members to Strengthen Bitcoin Strategy appeared first on COINTURK NEWS .
Recent unverified reports indicate that the United Arab Emirates (UAE) may hold over $40 billion in Bitcoin, which could position it as a leading global player in cryptocurrency. As speculations
Unverified reports suggest the UAE holds $40B in Bitcoin, potentially surpassing the U.S. and China. The market wonders: will it sell or hold for the long term?
For crypto enthusiasts, 2024 has been a busy and rewarding year. From the approval of Bitcoin and Ethereum spot ETFs to Trump being re-elected as U.S. President, bringing hope for clearer crypto regulation, and Bitcoin breaking the $100,000 mark, we have witnessed milestone after milestone in the crypto industry. This year, HTX Square has also made significant strides. We have kept pace with industry developments, staying at the forefront of market trends. Leveraging HTX’s industry-leading strengths, we produced a wealth of professional and engaging crypto content. Through a unique lens, we presented readers with a vivid picture of HTX and the broader crypto ecosystem. We also launched several interactive events in the HTX Community, engaging users with fun topics and rewards, garnering widespread participation and praise. These achievements were made possible by the support and help of our users throughout the year. Our unwavering goal remains to become “the Ultimate Destination for Crypto Enthusiasts.” With Christmas and the New Year approaching, the grandest celebration has already begun. HTX Square is launching a special “Holiday Season Giveaway” event to express our heartfelt thanks and show our appreciation to our users. Event Details: In 2025, HTX Square aims to create even higher-quality content, making continuous progress in the crypto world alongside more users. What are your New Year’s wishes? Feel free to share them with us here . Fill in your 2025 New Year’s wishes and complete the simple HTX Square survey for a chance to win a share of 200 USDT in prizes. Additionally, participants who provide feedback and suggestions for the development of HTX Square will get an extra chance to win a share of 100 USDT. Event Link: http://sw6tpxomzdxduimk.mikecrm.com/hcsK1Mo Event Period: December 24, 2:00 – January 5, 15:59 (UTC) Prizes: Good Fortune Prize (10 winners): 20 USDT each Progress Prize (10 winners): 10 USDT each Rules: To participate in the “Good Fortune Prize” raffle, complete the event form with your HTX UID, 2025 New Year’s wish, and the HTX Square survey questions. To be eligible for the “Progress Prize” raffle, provide feedback and suggestions for HTX Square’s development, or share what new content you would like to read in 2025. All winners will be selected via random drawing. Participants are eligible to win both the “Good Fortune Prize” and the “Progress Prize.” Participants must complete L3 KYC verification before the end of the event to be eligible for rewards. If a winner has not completed L3 KYC verification, they will forfeit their eligibility. Once the lucky draw picks are made, HTX Square will publish the list of winners in the HTX Community. The post Holiday Season Giveaway! Celebrate Christmas with HTX Square and Kick Off 2025 with Good Fortune first appeared on HTX Square .
COINOTAG reported on December 24th that Robinhood’s CEO, Vladimir Tenev, indicated in a recent interview the firm’s potential interest in Bitcoin. While recognizing the growing demand for cryptocurrency among users,
MicroStrategy, a leader in Bitcoin investments, is gearing up for a Special Shareholder Meeting on December 24th, as reported by Cointelegraph. The primary agenda for this meeting will center around