2024

Bitcoin

AI Crypto

Grayscale Bitcoin Trust

<div class="insidebitcoins">
 The Bitcoin price climbed 2.8% in the last 24 hours to trade at $40,269 as of 6:18 a.m. EST on daily trading volume that increased 26% to $18 billion.
 Analysts say the Bitcoin price is stabilizing after a sharp downturn as outflows from the Grayscale Bitcoin Trust slow.&nbsp;
 “Considering that $4.3 billion has already been withdrawn from GBTC, we deduce that the majority of profit-taking from GBTC has already occurred,” said JPMorgan analyst Nikolaos Panigirtzoglou.
 Bitcoin dropped by more than 20% in the weeks following the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States.&nbsp;
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 JUST IN: 🇺🇸 JPMorgan says “profit-taking on GBTC has largely concluded”, expecting limited further downside for #Bitcoin&nbsp;
 Bull run is certainly close🚀 pic.twitter.com/JqxnwVydiY
 — BULLSTREET GROUP (@Bullstreetgroup) January 25, 2024
 </blockquote>
 
 The decrease was linked to investors selling off the Grayscale Bitcoin Trust (GBTC) to take profits and take advantage of lower fees offered by newly launched spot Bitcoin ETFs. The slowing outflows from GBTC suggest selling pressure on Bitcoin may be easing.
 <h2 id="span-style-font-weight-400-bitcoin-price-faces-a-hurdle-with-the-moving-averages-span">Bitcoin Price Faces A Hurdle With The Moving Averages</h2>
 <figure id="attachment_475463" aria-describedby="caption-attachment-475463" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-475463" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201736%20747'%3E%3C/svg%3E" alt="Bitcoin Price Chart Analysis. Source: Tradingview.com" width="1736" height="747" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1736w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 300w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1024w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 768w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1536w" data-lazy-sizes="(max-width: 1736px) 100vw, 1736px" data-lazy-src="https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp">
 <noscript><img decoding="async" class="size-full wp-image-475463" src="https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp" alt="Bitcoin Price Chart Analysis. Source: Tradingview.com" width="1736" height="747" srcset="https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1736w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 300w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1024w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 768w, https://cdn.thebittimes.com/images/2024/01/26/525aee18cda674402a11ba534ed7f328.webp 1536w" sizes="(max-width: 1736px) 100vw, 1736px">
 </noscript>
 <figcaption id="caption-attachment-475463" class="wp-caption-text">
 BTCUSD Chart Analysis. Source: Tradingview.com
 </figcaption>
 </figure>
 The recent Bitcoin price movement shows a bullish breakout above the upper boundary of an asymmetrical triangle.&nbsp;
 Despite a temporary pullback, the bulls found support upon retesting the lower boundary of the triangle, leading to a quick rebound and a subsequent push in the price.
 Although the bulls demonstrated strength, they face a hurdle with the 50 and 200 Simple Moving Averages (SMA) on the 4-hour chart, which pause as resistance points for the BTC price.
 The Relative Strength Index (RSI) trades upwards from the 30-oversold region, surging towards the midline level at 50. A continued bullish move could propel the RSI into the overbought zone, confirming the rally above the triangle.
 <h2 id="span-style-font-weight-400-bitcoin-price-prediction-bulls-target-to-reclaim-49-102-level-span">Bitcoin Price Prediction: Bulls Target To Reclaim $49,102 Level</h2>
 The asymmetrical triangle pattern in play may encourage bullish investors to overcome the 50 and 200 SMA hurdles. This breakthrough could confirm a bull rally in the coming weeks, as traders often view the pattern as a signal for a bullish trend reversal, anticipating a reclaim of the previous high at $49,102.
 Meanwhile, some investors are diversifying their portfolios by turning to Bitcoin Minetrix, a Bitcoin derivative that offers lucrative returns on investment through its stake-to-mine feature.
 <h2 id="span-style-font-weight-400-btcmtx-a-remarkable-solution-to-cloud-mining-problems-span">BTCMTX, A Remarkable Solution To Cloud Mining Problems</h2>
 The Bitcoin Minetrix (BTCMTX) p<a rel="noopener noreferrer nofollow" title="resale" href="https://thebittimes.com/tag/resale.html">resale</a> has already raised $9.4 million as it hurtles towards it $10.3 million target. You can join other investors in acquiring BTCMTX tokens at $0.0131 before the price increases in less than five days.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 #BitcoinMinetrix Stage 21 has officially begun! ⏩
 What role do you see #CloudMining playing in the future of #Bitcoin mining? ⛏️ pic.twitter.com/XEaz8ZL4Qi
 — Bitcoinminetrix (@bitcoinminetrix) January 21, 2024
 </blockquote>
 
 The Bitcoin Minetrix platform has been created to make cloud mining easier for you as a user and gain full control over your mining endeavours through its stake-to-mine functionality.&nbsp;
 You can simply stake your BTCMTX tokens to gain cloud mining credits, enabling you to engage in decentralized Bitcoin mining and protect yourself from third-party cloud mining scams.&nbsp;
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Exploring the advantages of #BTC cloud mining!
 🚀 Beginner-friendly experience: no need for technical expertise. 💸 Budget-friendly: avoid hefty electricity and hardware costs. 🌐 Bid farewell to space constraints, noise, and heat disturbances. 🔄 Forget about <a rel="noopener noreferrer nofollow" title="resale" href="https://thebittimes.com/tag/resale.html">resale</a> concerns! pic.twitter.com/MlwYKwoKLa
 — Bitcoinminetrix (@bitcoinminetrix) January 13, 2024
 </blockquote>
 
 <h2 id="span-style-font-weight-400-get-btcmtx-earn-passive-income-rewards-and-prizes-span">Get BTCMTX, Earn Passive Income, Rewards and Prizes</h2>
 You also have the opportunity to earn passive income. The BTCMTX platform offers a chance for you to combine the benefits of earning rewards through staking and a potential prize via the BTCMTX Minedrop Airdrop Competition.
 The competition currently offers a chance to compete for a $30,000 prize pool. You could be one of the fortunate ten winners to receive a $3,000 reward. Your stake earns you rewards in the staking pool, and you get a guaranteed annual pay yield of 71%.&nbsp;
 Conor Kenny, a crypto analyst on YouTube with over 179k subscribers, cites the benefits of leveraging its staking-to-mine feature in one of his videos. He emphasizes that purchasing the p<a rel="noopener noreferrer nofollow" title="resale" href="https://thebittimes.com/tag/resale.html">resale</a> early is the best way to reap the most benefits.
 
 <div class="rll-youtube-player" data-src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/HY1POVOEnxg" data-id="HY1POVOEnxg" data-query="feature=oembed" data-alt="NEW Altcoin P<a rel=" dofollow title="resale" href="https://thebittimes.com/tag/resale.html" rel="noopener noreferrer nofollow">
 resale Bitcoin Minetrix MINES $BTC For YOU!!!"&gt;
 </div>
 <noscript><iframe title="NEW Altcoin P<a rel=" dofollow href="https://thebittimes.com/tag/resale.html" rel="noopener noreferrer nofollow">resale&amp;lt;/a&amp;gt; Bitcoin Minetrix MINES $BTC For YOU!!!" width="640" height="360" src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/HY1POVOEnxg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen&amp;gt;</iframe>
 </noscript>
 
 To join the p<a rel="noopener noreferrer nofollow" title="resale" href="https://thebittimes.com/tag/resale.html">resale</a>, visit the BTCMTX website, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.
 <h2 id="span-style-font-weight-400-related-news-span">Related News</h2>
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 <li style="font-weight: 400;" aria-level="1">Bitcoin (BTC) Price &amp; Future Predictions</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-prediction-grayscale-selling-bitcoin-slows-as-this-btc-cloud-mining-presale-nears-9-5-million-raised-tbt77868.html">https://thebittimes.com/bitcoin-price-prediction-grayscale-selling-bitcoin-slows-as-this-btc-cloud-mining-presale-nears-9-5-million-raised-tbt77868.html</a>
</div>

Bitcoin Price Prediction: Grayscale Selling Bitcoin Slows As This BTC Cloud Mining Presale Nears $9.5 Million Raised

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