Bitcoin under $37k but Chainalysis report says this sector isn't out of the game yet

Admit it – Bitcoin's rally slowed down and went into reverse and maybe you found yourself not just losing faith in cryptos, but also metaverse tokens and NFTs. Maybe you even wondered if the NFT era was over.

Timeline of Bitcoin

A popular crypto trader is giving a gloomy forecast for Bitcoin (BTC) and Ethereum (ETH) as the two largest crypto assets by market cap plunge deeper into the red territory. Pseudonymous crypto analyst Capo tells his 265,300 followers on Twitter that Bitcoin is in a downtrend and warns that buying BTC when the price seems The post Top Crypto Trader Warns of an Unfolding Bitcoin (BTC) Bull Trap, Predicts Ethereum (ETH) Will Drop Over 50% appeared first on The Daily Hodl.

Bitcoin, Ethereum, and other major cryptocurrencies crashed, wiping around $100 billion from the combined crypto market. At press time, the global cryptocurrency market cap dropped by more than 7% to $1.6 trillion.

Senator Warren voiced concerns about the “risky and speculative” decision taken by Fidelity to include BTC accounts in 401(K) retirement programs.  Senators' Letter Expresses Concerns Last week, Fidelity Investment announced that it would be allowing 401(K) holders to be able to add a Bitcoin account to their retirement plans.

Bitcoin price analysis is bullish today as we have seen another quick spike lower faced with a reaction higher at the $35,500. Therefore, BTC/USD has likely exhausted its bearish pressure, and a retracement is due to follow over the weekend.

Bitcoin (BTC/USD) continued to suffer from weak technical sentiment early in the Asian session as the pair continued to languish well below the psychologically-important 40000 figure following acute selling pressure that slowed around the 35568 area.  Significant Stops were elected below the 37450, 37151, 36758, 36545, 36351, 36208, 35995, 35842, and 35775 areas, downside price objectives related to selling pressure that originated around the 47469, 47200, 48240, and 43443 levels.

The Luna Foundation purchased another $1 billion in BTC to back Terra's stablecoin according to the announcement from the co-founder Do Kwon as we can see more today in our latest cryptocurrency news. Do Kwon added: “For the first time, you're starting to see a pegged currency that is attempting to observe the bitcoin standard.

After making headlines last year as the first country to adopt Bitcoin (BTC) its legal tender, El Salvador is moving ahead with its plans to further integrate the crypto into its economy. The countrys central bank recently approved a registration filed by a decentralized finance (DeFi) firm to operate as a registered Bitcoin services provider.

BTC collapsed to its lowest point after Russia's invasion of Ukraine below $36,000 and some altcoins suffered even more so let's read more in today's latest Bitcoin news. After failing the $40,000 price level a few days ago, BTC collapsed to the lowest points and dumped over $4000 in hours to the lowest price point

The $1.5 billion worth of BTC purchase was made by the Luna Foundation Guard to bolster its stablecoin reserves.  Luna Holds Over 80K BTCs The latest BTC purchase brings Luna Foundation Guard's (LFG) total holdings to more than 80,000 BTCs, which is worth nearly $3.5 billion, making the UST Forex Reserve one of the top 10 bitcoin holders in the world.

The International Monetary Fund (IMF) is concerned about the Central African Republic's recent decision to adopt Bitcoin (BTC) as legal tender. The IMF tells Bloomberg in a new email that the decision “raises major legal, transparency, and economic policy challenges” for the CAR. “IMF staff are assisting the regional and Central African Republic's authorities in The post IMF Concerned About Central African Republic's Decision To Adopt Bitcoin (BTC) As Legal Tender: Report appeared first on The Daily Hodl.