Terra Classic

Bitcoin

April

Elon Musk

<h2 id="span-data-font-font-size-style-font-size-20px-bitcoin-surpassed-44-000-tuesday-its-highest-since-april-2022-br-span">Bitcoin surpassed $44,000 Tuesday, its highest since April 2022. </h2>
<ul>
 <li>Bitcoin futures open interest on the CME, a global derivatives giant, is at $5.2 billion, just $200 million below its late October 2021 peak.</li>
 <li>Bitcoin's strong rally past $44,000 sparks concerns of a crypto surge driven by expectations of looser Federal Reserve monetary policy.</li>
 <li>The price of BTC has experienced a 17% increase over the last five successive bullish candlesticks.</li>
</ul>
<h3 id="span-span-data-font-font-size-style-font-size-18px-major-events-to-watch-span-span">Major Events To Watch:</h3>
<img src="https://lh7-us.googleusercontent.com/I-M5wlCSCpNQQY8vdWWSjdsNEfMqK8qLdz6-Cziq0biQ7-ts_dGnSROVNcSnOXPfp6ZwJgpzfYYbiIEfgLajr_LyJGtCffZ1600-cZGemBBFEMGzalPCktyxTPL-U8gKkDr2svzORsLTTmpbEGbhR00" width="502" height="533">
<h4>Crypto Fear and Greed:</h4>
<img src="https://lh7-us.googleusercontent.com/t0mkkYkEeHk5n3A4NbkWivK9_uOBth9fWo-3EGFzvsUQfJwK0ZUQFMDI6OUicyeB9ModXCZHxLn2Qt3nX6EH-2mzurN7NioezbjTigX3MeKxoYGKZh-pBhJVGIYKmvryzvNgE8Uq7XuwJb4HRUdxonA" width="579" height="245">
In the last 24 hours, the cryptocurrency market experienced profit-taking, leading to a three-point decrease in the "Greed and Fear Index." The index now sits at 72 on a scale of 0 to 100, reflecting a moderate level of investor sentiment.
<h4>Latest Market Update:&nbsp;</h4>
<ul>
 <li>Bitcoin, the oldest and most valuable cryptocurrency globally, surpassed $44,000, reaching a 20-month high.</li>
 <li>Several popular altcoins, including Ethereum, Pepe, Cardano, Doge, and DOT, demonstrated modest gains.</li>
 <li>Helium emerged as the top performer, boasting an impressive 67.60% increase in the last 24 hours.</li>
 <li>Conversely, Terra Classic experienced the most significant loss on Wednesday, with a 5.60% dip during the same period.</li>
 <li>The overall crypto market volume in the past 24 hours amounted to $115 billion, indicating an 8.00% decrease.</li>
 <li>DeFi contributed $10.33 billion, constituting 11.75% of the total crypto market volume.</li>
 <li>Stable coins represented $80.5 billion, making up 91.61% of the 24-hour crypto market volume.</li>
 <li>Bitcoin dominance stood at 54.81%, reflecting a daily increase of 1.40%.</li>
</ul>
<h4>Major Worldwide News Update:</h4>
<ul>
 <li>The SEC has extended its decision on Grayscale Ethereum Trust's spot ETF application to January 25, 2024, citing the need for a thorough assessment. <a href="https://www.coingabbar.com/en/crypto-currency-news/sec-and-grayscale-meets-to-discuss-spot-bitcoin-etf-listing" class="f-link" rel="noopener noreferrer nofollow">Grayscale</a>, with $5 billion AUM, plays a prominent role in ETH investments. The delay aligns with a cautious SEC stance on cryptocurrency ETFs, with no approval yet for spot Bitcoin or Ethereum ETFs. The outcome will significantly impact the future of crypto ETFs and their integration into mainstream finance.</li>
 <li>Swiss asset manager <a href="https://www.coingabbar.com/en/crypto-currency-news/pando-asset-filed-spot-bitcoin-etf-application-with-the-sec" class="f-link" rel="noopener noreferrer nofollow">Pando</a> enters the U.S. financial market, filing a 19b-4 with CBOE for a spot Bitcoin ETF. With existing crypto ETPs in Europe, Pando aims for global presence. The move follows the S-1 submission for the Pando Asset Spot Bitcoin Trust, administered by BNY Mellon. Bitcoin's surge to $44,500 signals market optimism for a U.S. spot Bitcoin ETF, with analysts predicting a 90% chance of approval by January 10, impacting Bitcoin short positions.</li>
 <li>On December 5, <a href="https://www.coingabbar.com/en/price-analysis/bitcoin-takes-a-breather-but-the-drama-is-far-from-over" class="f-link" rel="noopener noreferrer nofollow">Bitcoin</a> surged 5%, surpassing $44,300 and currently trading at $43,750. Notably, wallets holding 100+ Bitcoins increased after a decline on November 9, indicating renewed interest from major players. The spot-driven bull market, coupled with ETF anticipation, suggests a robust trend. Analysts caution potential corrections, with Ali Martinez citing the TD Sequential indicator, while Michael van de Poppe predicts consolidation before a push to $48,000-$50,000.</li>
 <li>ORDI, a BRC20 token, has achieved a milestone surpassing $1 billion in market value, becoming the first Bitcoin BRC20 token to do so. Following a 700% surge post-Binance listing, ORDI's price is at $53, marking a 163% increase in a week. Strong bullish indicators, including MACD and RSI, signal continued market dominance.</li>
 <li>Coinbase Global Inc. enhances its decentralized Wallet to simplify crypto asset transfers via social media platforms like WhatsApp and iMessage. Users create links on Coinbase Wallet and share them for easy, fee-free, and instant transactions across various messaging apps and social media. The service, available in 20 languages and 170+ countries, aims to streamline global payments.</li>
 <li>Argentina's President-elect Javier Milei invites Elon Musk for a discussion on freedom and equality. Milei emphasizes prioritizing freedom over equality, referencing economist Milton Friedman. Musk, a supporter of Milei, has shown interest in crypto-friendly politicians. Both share views on freedom of speech and support for cryptocurrencies like Bitcoin, making a potential discussion intriguing.</li>
 <li>House Financial Services Committee Chair Patrick McHenry, a key figure in cryptocurrency legislation, announces he won't seek reelection after 20 years. McHenry played a crucial role in advancing regulatory clarity for digital assets. His departure comes amid increasing focus on cryptocurrency in the upcoming 2024 elections.</li>
 <li>OpenAI's ChatGPT achieves a milestone as the most-read English Wikipedia article in 2023 with 49.5 million page views, reflecting the growing reliance on AI for information. The introduction of real-time web browsing and custom GPT models enhances ChatGPT's appeal, marking a significant shift in user interests.</li>
</ul>
COIN GABBAR Views: Is the Santa Claus rally underway in the market? What are the expert predictions for Bitcoin's post-halving bull run? With Bitcoin 'open interest' reaching $20 billion for the first time since 2021, can BTC price surge to $50,000? To get latest news Stay tuned us at <a href="https://www.coingabbar.com" class="f-link" rel="noopener noreferrer nofollow">coingabbar</a>
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
For More News: <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-roundup-dec-crypto-holds-its-breath-the-unfolding-mystery" class="f-link" rel="noopener noreferrer nofollow">Crypto Roundup, 05 Dec: Crypto Holds Its Breath: The Unfolding Mystery</a>

24 Crypto Update,5 Dec: From Bear to Bull:Crypto Reclaim the Spotlight

Table of Contents

Coingabbar

Other articles published on Dec 6, 2023

FDUSD Hits $1B Market Cap as Binance Ceases Support for BUSD

Wemade announces strategic partnership with DIFC Innovation Hub and plans to establish WEMIX PLAY...

Binance Founder CZ’s Guilty Plea Accepted, Awaits Sentencing and Decision on UAE Return!

Cisco Debuts AI to Detect Firewall Flaws, Issues Warning on Future Costs

JP Morgan’s Stance on Cryptocurrencies

Bitcoin Price Rally : Expert Insights on the Unprecedented BTC Bull Run

Join our free newsletter for daily crypto updates!