Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone. The price is trading below $104,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $102,000 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 $98,000 support zone. Bitcoin Price Takes Hit Bitcoin price attempted more gains above the $108,000 resistance zone . However, BTC failed to continue higher and reacted to the downside below the $105,000 level. There was a clear move below the $102,500 support level. The price even dipped below $100,000. A low was formed at $98,728 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $102,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $104,000 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $100,500 level. It is close to the 23.6% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low. The first key resistance is near the $101,000 level and the trend line. A clear move above the $101,000 resistance might send the price higher. The next key resistance could be $102,250. A close above the $102,250 resistance might send the price further higher. In the stated case, the price could rise and test the $103,500 resistance level or the 50% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low. Any more gains might send the price toward the $106,000 level. More Downsides In BTC? If Bitcoin fails to rise above the $101,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,500 level. The first major support is near the $98,000 level. The next support is now near the $96,200 zone. Any more losses might send the price toward the $95,500 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 – $98,000, followed by $96,500. Major Resistance Levels – $101,000, and $102,000.
El Salvador’s recent loan agreement with the IMF highlights crucial changes in its Bitcoin strategy, emphasizing a shift toward regulated cryptocurrency use. After extensive negotiations lasting four years, this $1.4
The post Fed’s Anti-Bitcoin Stance Triggers Major Crypto Market Sell-off appeared first on Coinpedia Fintech News Today, December 19, 2024, the overall cryptocurrency market is experiencing notable losses, with major cryptocurrencies like Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and XRP seeing significant price declines over the past 24 hours. A potential reason for this drop is the recent Federal Reserve rate cut meeting. Reason Behind the Crypto Market Decline During the conference, the Federal Reserve announced an interest rate ceiling of 4.50%, aligning with expectations, compared to the previous rate of 4.75%. Jerome Powell made a bold statement on cryptocurrency that significantly impacted the overall market. In a statement, Powell noted that we are not allowed to own Bitcoin and have no desire to change the laws. This statement by the Fed chief shows that the U.S. central bank has no interest or intention to support a scenario where the government would accumulate a significant amount of Bitcoin. Regarding the legal issues surrounding Bitcoin ownership, Powell stated, “That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed.” The idea of creating a so-called “Strategic Bitcoin Reserve” appears to be failing, as the Federal Reserve has no intention of participating in such an initiative until President-elect Donald Trump takes office. This indicates that central banks are distancing themselves from holding large amounts of Bitcoin, unlike gold reserves. Federal Reserve’s Meeting Impacted Crypto Prices These statements by Powell have caused a significant downturn in the overall cryptocurrency market. Bitcoin (BTC), the world’s largest cryptocurrency, dropped by over 6.5%, falling below $100,000 after reaching the $108,000 mark. Meanwhile, other assets, including Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE), experienced price declines of 5.5%, 14.20%, 9.45%, and 11.5%, respectively. Additionally, this notable price decline in the crypto market occurred following Powell’s statement.
$200 Million in Long Positions Liquidated in Last Hour in Cryptocurrency Market ————— NFA.
Under the agreement, El Salvador will make Bitcoin acceptance voluntary for the private sector while restricting public sector involvement.
U.S. Senator foresees 2025 as a pivotal year for cryptocurrency, highlighting plans for a strategic bitcoin reserve and sweeping pro-crypto legislation under new leadership. Strategic Bitcoin Reserve and Digital Asset Laws Set to Redefine 2025 U.S. Senator Cynthia Lummis (R-WY) reiterated her strong support for cryptocurrency in a post on social media platform X Tuesday,
Sky, the rebranded DeFi platform formerly known as Maker, is set to transition from its MKR token to SKY, aiming for enhanced usability and clarity. The strategic migration plan announced
Bitcoin Drops Below $99,000, XRP Falls Below $2.22! ————— 💰Coin: Bitcoin ( $BTC ) $98,991.20 XRP ( $XRP ) $2.22 ————— NFA.
What are the most promising cryptocurrencies this December? With the year wrapping up, investors are scouring for projects that could bring both short-term value and long-term gains. Recently, Qubetics, Solana, and Binance Coin have captured attention due to their impressive developments and growing communities. Qubetics ($TICS) continues to make headlines, having secured over 10,600 token holders holding more than 355 million tokens in its presale. Meanwhile, Solana is riding a wave of institutional adoption, and Binance Coin is fostering groundbreaking innovations on the Binance ecosystem. Let’s take a closer look at why these three stand out as the best coins to join in December 2024. Qubetics Sets the Stage with Over 10,600 Token Holders Qubetics ($TICS) is breaking barriers as the world’s first web3 aggregator , solving major interoperability issues in the blockchain space. At the heart of its ecosystem is its decentralised VPN (dVPN), a revolutionary solution designed to provide enhanced privacy, security, and unrestricted internet access. Unlike traditional VPNs that rely on centralised servers, Qubetics’ dVPN operates on a peer-to-peer network, ensuring user data remains private and resistant to surveillance. For example, journalists working in regions with heavy censorship can use Qubetics’ dVPN to access information securely without the fear of government intrusion. Businesses that handle sensitive data across borders can also benefit, as the dVPN reduces the risks associated with centralised systems and potential data breaches. Currently, Qubetics is in its 13th presale phase, where tokens are priced at $0.0342 each. Each presale stage concludes every Sunday at midnight, bringing a 10% price increase. So far, the presale has attracted over 10,600 holders , with more than 355 million $TICS tokens sold, raising over $7 million. Analysts are bullish on its future, predicting that $TICS could reach $15 after its mainnet launch. For example, an investment of $400,000 today could deliver life-changing returns if these predictions hold true. You can learn more about this project by watching the video here . Solana Gains Momentum with New Staking Opportunities Solana continues to reinforce its reputation as one of the fastest and most scalable blockchain networks. Recent developments highlight growing institutional interest and innovative solutions within its ecosystem. A major boost came with Bitwise launching a Solana staking ETP (exchange-traded product) in Europe, offering an impressive 6.48% yield to institutional investors. This move not only improves accessibility to Solana but also reinforces its position in the decentralised finance (DeFi) sector. Adding to the momentum, the recent launch of the Solaxy ICO, a Layer 2 project built on Solana, raised over $750,000 in its first 72 hours. This demonstrates the strong investor demand for projects leveraging Solana’s high-speed, low-cost network. These developments position Solana as a serious contender for both short-term and long-term gains, making it one of the best coins to join in December 2024. Binance Coin Powers Innovation Across the Blockchain Space Binance Coin (BNB) remains a key player in driving blockchain adoption through its robust ecosystem. As the native token of the Binance exchange, BNB supports numerous applications, including transaction fee reductions, staking, and the Binance Launchpad. Recently, Binance Launchpad facilitated the listing of Simon’s Cat (CAT) on its spot market, resulting in a remarkable 50% price increase within 48 hours. The listing reflects Binance’s ability to propel promising projects into the spotlight and generate strong market interest. In addition, Binance’s continued efforts to diversify offerings through its HODLer Airdrop Program have further engaged its community, distributing tokens of newly listed projects to loyal holders. This proactive approach fosters innovation and cements Binance Coin’s importance in the blockchain ecosystem. With its consistent utility and support for emerging technologies, Binance Coin is undoubtedly one of the best coins to join in December 2024. Conclusion: Qubetics, Solana, and Binance Coin Shine Bright As 2024 comes to a close, Qubetics, Solana, and Binance Coin offer exciting opportunities for crypto investors. Qubetics has already attracted 10,600 token holders and sold 355 million $TICS tokens, with analysts predicting an extraordinary surge to $15 post-mainnet launch. Meanwhile, Solana is gaining institutional traction with new staking opportunities and a successful Layer 2 ICO. Binance Coin remains a cornerstone of blockchain innovation, driving projects that generate real value for investors. For those looking to position themselves for growth, these projects are the best coins to join in December 2024. Now is the time to research, evaluate, and make informed moves in the dynamic world of crypto. For More Information: Qubetics: https://qubetics.com/ Telegram: https://t.me/qubetics Twitter: https://twitter.com/qubetics The post Qubetics Crosses 10,600 Investors as Solana and Binance Coin Power Blockchain Growth – Best Coins to Join in December 2024 appeared first on TheCoinrise.com .
Base has made waves in the crypto sector by surpassing Ethereum Mainnet in daily transaction volume, marking a pivotal moment for Layer 2 innovations. Accelerated by its organic growth, Base