The Bitcoin Price Dropped
The price of Bitcoin dropped in the past 24 hours, now trading at $42,481.40 as of 9:10 am EST.
Bitcoin ETFs Post Remarkable Volumes
Exchange-traded funds (ETFs) generated a huge $1.8 billion in volume on Jan. 16, three times more than the combined volume of all 500 ETFs launched in the US in 2023. Grayscale, BlackRock and Fidelity accounted for $1.6 billion of the day’s trading volume.
The Bitcoin Price Enters A Consolidation Channel
The Bitcoin price has been consolidating between $41,530 and $43,670 over the past few days. If it falls below this range, it may correct down to the $41,530 support in the next 24 hours. Conversely, if it breaks above this range, the price may reach the $45,800 threshold.
Bulls Lay Dormant On BTC’s Charts
Indicators suggested that a bullish move may not happen within the next 24 hours. The Moving Average Convergence Divergence (MACD) indicated a bearish phase beginning, while sellers appeared to be gaining strength against buyers on BTC’s 4-hour chart.
Cloud Mining Made Simple
Cloud mining Bitcoin was complex, requiring technical understanding and upfront capital. Bitcoin Minetrix has simplified the process through blockchain and cryptocurrency technology which reduces barriers to entry. By purchasing and staking BTCMTX, you can earn passive income paid in BTC.
Hot Take – Analyst predicts 10x returns for BTCMTX
Analysts believe BTCMTX has the potential to generate 10x returns for early investors, especially with the introduction of institutional capital from Bitcoin ETFs. The innovative platform is poised to benefit from the spike in interest and could launch BTCMTX’s price into the stratosphere.
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