The Bitcoin Price Update
The Bitcoin price is up 1.2% in the last 24 hours to trade at $43,849.
The rise comes as Peter Schiff, a renowned critic of Bitcoin and advocate for gold, cautions that the approval of spot Bitcoin ETFs might trigger a steep correction.
The Bitcoin Price: Bulls Trade Bullish Pennant
The Bitcoin price has formed a bullish pennant, indicating a bullish trend continuing above the $45,000 threshold.
The general momentum remains bullish as it maintains its position above the 50-day and 200-day simple moving averages (SMAs).
The Relative Strength Index (RSI) also trades downward, approaching the 50 midline level at 59. However, with some push, the RSI could reach the overbought level of 70.
The Bitcoin Price: Bulls Poised to Surpass $45000 Resistance
The presence of the bullish pennant offers an opportunity for the bulls to propel the price upwards.
A sustained push could help breach the $45,000 resistance, setting the BTC price upward as bullish investors focus on achieving the $50,000 marker.
As Bitcoin traders await the breakout, investors are rushing to buy Bitcoin derivative BTCMTX as they anticipate the approval of spot Bitcoin ETFs.
Bitcoin Minetrix Presale Closes in on $7.9 Million Goal
Bitcoin Minetrix (BTCMTX) has successfully garnered $7.5 million in its presale initiative, racing towards its $7.9 million target.
As an investor, the BTCMTX platform allows you to use the stake-to-mine feature to generate passive income. Additionally, holding BTCMTX tokens ensures a substantial annual percentage yield (APY) of 86%.
Conor Kenny, a crypto analyst and YouTuber with over 173k subscribers, shares valuable insights on how to acquire Bitcoin Minetrix and optimize returns through its stake-to-mine functionality. You can participate in the presale by visiting the BTCMTX website and connecting your digital wallet to swap your ETH or USDT for BTCMTX tokens or directly buy using your bank card.
Hot Take
The crypto market is closely watching the Bitcoin price for its next move amid bullish indicators and the potential impact of spot Bitcoin ETFs. Additionally, the ongoing Bitcoin Minetrix presale is attracting attention due to its significant fundraising and the promise of generating passive income through stake-to-mine functionality.
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