Bitcoin price bounces to $41.5K, but derivatives data shows traders lack confidence

Bitcoin (BTC) briefly reached its lowest level in five months this Monday at $39,650, marking a 42.6% drawdown from the all-time high present on Nov 22, 2022. Some argue that a “crypto winter” has already begun citing the $2.1 billion leverage-long aggregate crypto futures contracts that were liquidated over the past seven days. Bitcoin/USD price at FTX. Source: TradingView The descending channel guiding Bitcoin’s negative performance for the past 63 days indicates that traders should expect sub-$40,000 prices by February. Confidence from investors continued to decline after the United States…

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Binance sponsors AFCON to further develop crypto adoption in Africa

Monday marked the start of the TotalEnergies Africa Cup of Nations tournament — the largest men’s football championship series in Africa. At the same time, Binance announced its official partnership with the Confederation of African Football as well as its official sponsorship for the AFCON 2021 tournament, becoming the first crypto and blockchain sponsor for the event. Through this sponsorship, Binance will also be promoting CAF’s social media content which will include the Assist of the Day, Assist of the Week and Assist of the Tournament. This content will cover…

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3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the…

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Australia’s largest crypto exchange will sponsor tennis star Ajla Tomljanovic

BTC Markets, the largest digital assets exchange in Australia, has announced it will be sponsoring professional tennis player Ajla Tomljanovic for the Australian Open and Sydney Tennis Classic tournaments taking place this month. In a Tuesday announcement, BTC Markets said it would be backing Tomljanovic as part of a partnership inspired in part by “increased investor activity from female investors in the last financial year.” Users from the crypto exchange will have the chance to win tickets to the tournaments and a meeting with the tennis star with a nonfungible…

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New NFT marketplace LooksRare allows traders to earn rewards

LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live today with a token airdrop. #LooksRare NFT Marketplace Now Live! $LOOKS airdrop claim open⏰ Staking starts at block 13977012Trading reward calculations start tomorrow LFG! https://t.co/Y1jt9Kmqt6 — LooksRare – NFT Marketplace (@LooksRareNFT) January 10, 2022 Created by two anonymous co-founders, known as Zodd and Guts, LooksRare claimed to be made “By NFT People, for NFT People.” According to its blog announcement, the LooksRare team is “tired…

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Bitcoin dip below $40K follows Fed signal of a possible fourth rate hike in 2022

Global financial markets, stocks and cryptocurrencies took a knock on Jan. 10 after rumors that the Federal Reserve may hike interest rates four times in 2022 circulated and sparked a sell-off and sent the benchmark 10-year Treasury yield briefly above 1.8%. Data from Cointelegraph Markets Pro and TradingView shows that a massive wave of selling broke Bitcoin’s (BTC) support near $42,000, resulting in a plunge to $39,660 before buyers stepped in to buy the perceived dip. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts are saying about this latest drawdown…

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Single inactive volcano has 90% chance of powering El Salvador’s Bitcoin City, according to president

El Salvador President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The El Salvadoran leader said the state-owned electrical company LaGeo was continuing to increase its production of geothermal power from different volcanoes in the country, with one of…

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Bitfarms purchased more than $43M in Bitcoin to start the new year

Canadian crypto mining firm Bitfarms has already bought 1,000 Bitcoin in 2022, making its total holdings of the crypto asset more than $177 million. In a Monday announcement, Bitfarms said it purchased 1,000 Bitcoin (BTC) for $43.2 million in the first week of January, roughly the same amount the company added to its treasury in both the third and fourth quarters of 2021. According to the mining firm, it currently holds more than 4,300 BTC as of Jan. 10, roughly $177 million at a price of $41,183. “Our guiding company…

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The Hidden Bitcoin Trend Line That Could Save The Bull Run

Today, Bitcoin price sank below $40,000 for the first time since September – a price more than 50% lower than what the market was anticipating this time of year. While the downside has been impossible to ignore, the latest sweep of lows has resulted in a touch of a trend line dating back to the bear market bottom that could keep the bull market intact a bit longer. Technical Analysis And Framing The Importance Of Trend Lines When it comes to technical analysis in Bitcoin, trend lines always matter. When…

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Which layer-one protocols will outperform in 2022?

In this week’s show, Cointelegraph resident experts decide which layer-one protocol is more likely to rise above the rest in 2022.  Join Cointelegraph host and analyst Benton Yaun alongside market analysts Jordan Finneseth and Sam Bourgi as they pick their favored layer-one protocols for 2022. Will it be Velas ($VLX), which is currently the fastest blockchain when it comes to transactions, Avalanche (AVAX), with its substantial VC backing, fast transactions and low gas fees, or Cosmos (ATOM), a platform focused on interoperability. Let us know which project you think has…

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