Weekly Crypto Roundup: BTC’s Rollercoaster Ride 🎢
Bitcoin has been on a wild ride this week, reaching $54k but set for the worst week in over a year. Here’s a summary of the latest updates and developments in the crypto space:
BTC Price Movements 📈
- Bitcoin hits $54k, but is set for its worst week in over a year.
- Mt. Gox begins to move BTC and make distributions.
- The German government continues to sell its BTC holdings.
- A $52k super-trend support line is eyed for BTC.
- Total3 hits RSI lows only seen 4 times in the last 4 years.
Market Sentiment 📉
- Fear & Greed index hits the lowest level since Jan 2023.
- Funding rates turn extremely negative across major cryptocurrencies.
- Capo remains bullish amidst the market downturn.
- Real selling begins at $38k according to Peter Schiff.
Industry News & Updates 🌐
- Justin Sun expresses interest in buying German BTC as the government continues to sell.
- German MP calls on the government to stop selling BTC.
- Only 6 mining machines are profitable below $56k.
- Coinbase spot buyers emerge to counter the market drop.
- Coinbase continues to fight for emails from SEC’s Gensler.
- Circle mints $250m USDC on SOL (Solana).
- Symbiotic hits $1bn TVL (Total Value Locked) milestone.
- Taiwan Mobile may open a crypto exchange.
- Unisat completes a funding round with Binance.
Hot Take: Stay Cautiously Optimistic 🚀
Despite the market turbulence, it’s essential to stay informed and make well-thought-out decisions in the crypto space. Remember to stay cautious, do your research, and keep a long-term perspective on your investments. The crypto market is volatile, but with the right approach, you can navigate through the ups and downs successfully. Stay tuned for more updates on the crypto market!
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