Bitcoin ETF

Bitcoin

Daily

<ul>
 <li><strong>Bitcoin trading volume is down 19% in the past 24H.</strong></li>
 <li><strong>BTC&nbsp; Daily chart signals tentative bullish trend; RSI neutral at 59.</strong></li>
</ul>
<p>Bitcoin, the leading cryptocurrency by market capitalization, has seen recent price fluctuations, oscillating between notable highs and moderate declines. After reaching a peak above $44,500 earlier this month, BTC has settled around $42,000, experiencing a 1% decline today.</p>
<p>The anticipation surrounding a potential U.S. spot Bitcoin ETF launch has boosted recent market optimism. This sentiment grew stronger after BlackRock signalled acceptance of Bitcoin redemptions, instilling confidence among investors. As a result, Bitcoin briefly surged above <a href="https://thenewscrypto.com/bitcoin-rebounds-above-43k-level-as-bulls-make-a-comeback/" rel="noopener noreferrer nofollow">$43,000</a> yesterday after almost six days but currently faces bearish pressure.</p>
<p>A noteworthy trend in Bitcoin wallet behaviour has emerged. The lower-tier wallets, holding 0-1 coins, have consistently accumulated assets since October, amassing around 1.42 million BTC. Conversely, mid-tier wallets have slightly reduced holdings, now at approximately 6.57 million BTC.</p>
<p>However, amidst these shifts, the number of active Bitcoin <a href="https://thenewscrypto.com/bitcoin-average-transaction-fees-nears-40-highest-since-april-2021/" rel="noopener noreferrer nofollow">addresses</a> has declined from about 4.9 million to 4.1 million, possibly influenced by recent price movements.</p>
<p>Also, Bitcoin’s trading volume experienced a brief decline to $14 billion before bouncing back around December 18th, reflecting fluctuating investor engagement aligned with market trends.</p>
<h3 class="wp-block-heading" id="h-bitcoin-bulls-to-reign">Bitcoin Bulls To Reign?</h3>
<p>Analyzing BTC’s price movements reveals a delicate situation. The daily chart indicates a tentative bullish trend, with the 9-day exponential moving average (EMA) positioned at $42,329, below the current trading price. The daily relative strength index (RSI) suggests a neutral condition, hovering at 59.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="458" src="https://thenewscrypto.com/wp-content/uploads/2023/12/BTCUSDT_2023-12-20_11-34-38-1024x458.png" alt="" class="wp-image-87809" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/BTCUSDT_2023-12-20_11-34-38-1024x458.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/12/BTCUSDT_2023-12-20_11-34-38-300x134.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/12/BTCUSDT_2023-12-20_11-34-38-768x343.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/12/BTCUSDT_2023-12-20_11-34-38.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC Price Chart, Source: TradingView
  </figcaption>
 </figure>
</div>
<p>Should the price surpass $43,380, it may likely surge further to test the resistance level at $47,200. Conversely, if the price falls below $41,830, it could test the support area around $40,800.</p>

Bears Pulling BTC Down? Bitcoin Struggles Crossing $43K

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