Wednesday

Bitcoin

Roller

<h2 id="span-data-font-font-size-style-font-size-20px-in-24-hours-the-cryptocurrency-market-fell-0-50-to-1-80-trillion-br-span">In 24 hours, the cryptocurrency market fell 0.50% to $1.80 trillion. </h2>
<ul>
 <li>Crypto market bullish ahead of expected spot BTC ETF approval, impacting prices despite incomplete applications from top players like Grayscale.</li>
 <li>Wednesday morning saw red dominating cryptocurrency charts. Bitcoin retreated from a nearly two-year high but maintained prices near the recent rally peak.</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/VWf-1rBizQqaXdxn0h4Bo1u_P-cYhHFkR_EpM9-R028mLRLTPNW_JGeEd3G4oJXEGngUPCNnisuigfPrv3d3BVQFYlXp7SCT2FV2bOTrbHHcUuvV79EMhiEfSlPcvi874EmMuPgDIT-9GiluqJn79-8" width="460" height="228">
<h4>Crypto Fear and Greed:</h4>
<img src="https://lh7-us.googleusercontent.com/vTsIvQIoQ9cyp-DVpiadM33UOvSuWRn7L41YxE_GIHeGFvIpVmCJXuulv929m66dKgX3v1cxE9feuC95eyLHCVAutDd4fND2jSTHlOkz4nB7XHaTLchtJh5uFREgYhoKPcj7VcB6Ao05NUB-MljpXUo" width="561" height="238">
In the last 24 hours, the market has maintained its bullish sentiment, leading to a slight drop of 1 point in the "Greed and Fear Index." Consequently, the current index now stands at 70 on its 0 to 100 scale.
<h4>Latest Market Update:&nbsp;</h4>
<ul>
 <li>Bitcoin fell short of reaching the $46,000 level and retraced, seeking support around the $45,000 mark.</li>
 <li>Altcoins such as Ethereum, Solana, BCH, <a href="https://www.coingabbar.com/en/price-analysis/cardano-destiny-breakthrough-or-setback-in-the-pattern-puzzle" class="f-link" rel="noopener noreferrer nofollow">Cardano</a>, and Matic faced selling pressure at higher levels.</li>
 <li>Astar emerged as the top performer with an impressive 24-hour increase of over 19.70%.</li>
 <li>Stacks, however, experienced the most significant decline among the mentioned cryptocurrencies, seeing a 24-hour dip of over 8.65%.</li>
 <li>Total crypto market volume in the last 24 hours: $95.30B, reflecting a 25.60% increase.</li>
 <li>DeFi volume stands at $7.01B, constituting 9.66% of the total crypto market 24-hour volume.</li>
 <li>Stable coins contribute $63.69B to the total crypto market 24-hour volume, representing 87.81%.</li>
 <li>Bitcoin's dominance is at 52.53%, with a daily uptick of 0.90%.</li>
</ul>
<h4>Major Worldwide News Update:</h4>
<ul>
 <li>Bitcoin miners celebrate as <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-jan-bitcoin-skyrockets-testing-two-year-highs" class="f-link" rel="noopener noreferrer nofollow">BTC surpasses $45,000</a>, yielding over 20% gains since December 2023. Recent data shows Bitcoin dominating blockchain fees, with miners collecting $4 million in the past month. As mining activity surges, investors anticipate continued growth, while companies like CleanSpark explore internal trading desks for financial optimization. </li>
 <li>BlackRock and JP Morgan have reportedly prepared employees for an imminent SEC approval of a spot Bitcoin ETF. Earlier, BlackRock named JP Morgan as the lead participant in its ETF filing. Despite past skepticism, this move signifies traditional finance's increasing interest in crypto markets.</li>
 <li><a href="https://www.coingabbar.com/en/crypto-currency-news/michael-saylor-expects-bitcoin-surge-after-etf-approval" class="f-link" rel="noopener noreferrer nofollow">MicroStrategy's Michael Saylor</a> is selling $MSTR shares worth $216 million, potentially to accumulate more Bitcoin (BTC) ahead of the spot BTC ETF approval. The move aligns with his aim to exercise a stock option expiring in April 2024, reinforcing MicroStrategy's position as a major BTC institutional holder.</li>
 <li>CleanSpark Inc., a Bitcoin mining company, is gearing up to launch an internal trading desk in 2024 with the aim of maximizing returns on its expanding Bitcoin portfolio. CEO Zachary Bradford views this decision as a sound financial strategy and foresees a growing trend among mining firms to adopt similar approaches for customized risk management.</li>
 <li>In the coming year, the IRS is set to implement new regulations mandating comprehensive reporting of digital asset transactions surpassing $10,000, specifically targeting crypto brokers. The industry is grappling with concerns surrounding compliance hurdles, particularly for miners, validators, decentralized exchanges, and anonymous donations. There is a pressing need for clearer guidelines from the IRS to address these challenges and ensure smooth adherence to the new regulations.</li>
 <li>Nest Wallet CEO Bill Lou fell victim to a crypto phishing scam, losing 52 stETH (valued at $125,000) while attempting a LessFnGas $LFG airdrop through a fraudulent link. Lou, a software engineer, acknowledged his lapse in judgment, attributing the loss to fatigue.</li>
 <li>Shibarium, Shiba Inu's Ethereum layer-2 solution, experienced a decline in daily transactions, dropping from around 7-8 million to 6.06 million. Despite past stability, the decrease in active addresses and new accounts suggests waning interest, possibly due to the emergence of alternative tokens.</li>
</ul>
COIN GABBAR Views: Is BTC's surge to $46K sustainable, or are there concerning signs? Can Bitcoin maintain the $45,000 mark, with predictions of reaching $50,000 this month? Will the anticipated bull run commence, potentially leading to new highs in crypto for 2024? 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-daily-roundup-jan-bitcoin-bulls-roar-as-etf-approval-near" class="f-link" rel="noopener noreferrer nofollow">Crypto Daily Roundup 02 Jan: Bitcoin Bulls Roar as ETF Approval Nears</a>

24 Crypto Update, 02 Jan: Crypto's Roller Coaster Ride in a Day

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