Cryptocurrency

Bitcoin Market Cap Recovery

Saturday. January 4 at 9:00 PM

1 min. read

Bitcoin (BTC) is striving to regain its $2 trillion market cap with growing bullish momentum. Recent technical indicators like DMI and RSI show a strengthening uptrend, emphasizing the need for consistent buying activity to sustain upward pressure. BTC's EMA lines hint at a potential golden cross, possibly driving the price towards critical resistance levels near $98,870 and beyond. Failure to breach these levels could lead to a pullback, with key support zones at $90,700 and $88,000 becoming important. The DMI chart reveals a significant rise in BTC's ADX to 27.3, indicating a strong uptrend and increased market confidence. The RSI at 60.47 suggests a bullish territory, but a pullback may occur without renewed buying activity. EMA lines crossing indicate a potential uptrend, with a breakout above $98,870 opening doors for further gains. However, failure to break resistance levels could lead to downside pressure, possibly retesting support at $90,700 and $88,000.

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Trudeau to Resign as Canadian Prime Minister Amid Criticism

Tuesday. January 7 at 2:00 AM

Canadian Prime Minister Justin Trudeau has announced his intention to step down as leader of his political party and resign as prime minister once a successor is chosen. Trudeau made the announcement during a press conference on Jan. 6, stating that the Liberal Party would select the next leader through a competitive process. The decision comes after calls for his resignation from members of Parliament. Trudeau's resignation follows Finance Minister Chrystia Freeland's decision to step down due to disagreements with Trudeau over handling potential tariffs from US President-elect Donald Trump. Critics in the crypto industry have condemned Trudeau's response to a 2022 strike by Canadian truckers. The prime minister invoked the Emergencies Act to freeze protesters' bank accounts, including those involving digital assets. Political betting platform Polymarket saw increased activity, with users betting on Trudeau's resignation and potential successors for the next election.

Cryptocurrency

Regulatory Approval Granted to GSR Markets UK by FCA

Tuesday. January 7 at 1:00 AM

GSR Markets UK, a subsidiary of the global cryptocurrency trading firm GSR, has been granted regulatory approval by the UK's Financial Conduct Authority (FCA). This approval allows the company to operate as a licensed crypto asset business, making it the first crypto liquidity provider to hold dual regulatory authorization from both the FCA and the Monetary Authority of Singapore (MAS). With this expansion, GSR can now offer services like over-the-counter (OTC) and programmatic execution trading for clients in the UK. The FCA's approval comes amidst increasing demand for regulated crypto trading solutions following Bitcoin's surge past $100,000 in December 2024. Despite recent crackdowns on illegal crypto activities in the UK, the FCA aims to enhance market safety and transparency through progressive regulation. GSR's CEO, Xin Song, expressed confidence in expanding services globally to institutional and professional clients. The approval positions GSR Markets UK as a compliant and reliable player in the crypto market, catering to the growing demand for regulated trading services.

Cryptocurrency

MicroStrategy's Latest Bitcoin Purchase

Tuesday. January 7 at 12:00 AM

MicroStrategy, the largest corporate holder of Bitcoin, recently bought 1,070 BTC at an average price of $94,004 per Bitcoin. This purchase, totaling $101 million, was disclosed on Jan. 6, following previous acquisitions that brought their total holdings to 447,470 BTC. The company used proceeds from share sales for this purchase. Despite hitting new highs, MicroStrategy's buying activity slowed down in December 2024. Industry figures, like Arthur Hayes, warned of market drops due to the US presidential inauguration. Reports suggest a potential blackout period for MicroStrategy in January 2025, affecting future BTC purchases. The company also announced plans to raise $2 billion for more Bitcoin through a preferred stock offering, pending market conditions. This move reflects a strategic shift in MicroStrategy's investment approach amidst evolving crypto regulations worldwide.

Cryptocurrency

Latest Crypto News Highlights

Monday. January 6 at 8:00 AM

Stay updated on the latest in the crypto world with daily news covering Bitcoin, DeFi, NFTs, and more. MicroStrategy's Michael Saylor hints at more Bitcoin purchases, while Dogecoin sees a 21% surge and predictions of reaching $1 by 2025. Elon Musk faces criticism for proposed changes to the X social media algorithm. MicroStrategy continues its Bitcoin acquisition plan, with recent purchases totaling $290 million. Dogecoin outperforms other memecoins, with a 21% increase in price. Whales show renewed interest in DOGE, with significant transactions taking place. Analysts predict a 170% surge in Dogecoin's value, reaching $1 and a $100 billion market cap. Musk's algorithm change receives backlash for perceived censorship. Stay informed with our Crypto Biz newsletter for weekly insights on blockchain and crypto trends.

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