Cryptocurrencies: 12,866
Markets: 940
Marketcap: $ 2.05 T(0.79%)
24h Vol: $ 87.19 B
BTC Dominance: 48.87%

Bitcoin Hovers Around $44k as SEC Decision on ETFs Nears

Key Developments and Price Action

Bitcoin is currently trading around the $44k level with modest gains of 0.6% on Sunday as the crypto market anticipates multiple Bitcoin ETF approvals. BlackRock Inc. and Grayscale Investments have submitted amended ETF applications with the SEC that are pending review. A decision from the SEC next week could impact BTC prices due to increased institutional involvement if the ETF applications are approved.
A massive 26.9 BTC transaction worth around $1.17 million was sent to the “genesis wallet”, fueling speculation around Satoshi Nakamoto’s possible involvement or promotional activity related to an upcoming Bitcoin ETF launch.

Technical Analysis

Bitcoin has seen a weekly decline of 2.1%, with technical analysis pointing to key levels at $44,204 (pivot point) and resistance levels at $47,949, $52,034, and $55,893. Support levels have been identified at $39,891, $35,692, and $31,834. The RSI at 72 indicates overbought conditions with BTC’s price below the 50-day EMA of $31,125, suggesting a bearish trend. A break above $44,200 could signal a shift towards bullish momentum.

Cryptocurrencies to Watch

Cryptonews.com has listed the top 15 cryptocurrencies to watch in 2023, but warns that crypto investments carry high risk (cryptonews.com).

Additional Resources:

Bitcoin price chart: tradingview.com/symbols/BTCUSD/

Genesis wallet transaction: blockchain.com


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