Ethereum

2024

Bitcoin

In the ever-evolving landscape of cryptocurrency, <a href="http://tradingview.com/symbols/BTCUSD/">Bitcoin (BTC)</a> has recently reversed its downward trend, surpassing the significant $41,000 mark. This resurgence not only bolsters confidence in Bitcoin but also paves the way for other major cryptocurrencies like Ethereum (ETH), <a href="https://cryptonews.com/coins/dogecoin/">Dogecoin (DOGE)</a>, Solana (SOL), Ripple (XRP), and <a href="https://cryptonews.com/coins/Litecoin/">Litecoin (LTC)</a>, all of which have witnessed modest gains. 
The overall <a href="https://cryptonews.com/coins/">crypto market cap</a> now stands at an impressive $1.56 trillion, marking over 0.30% increase in the last 24 hours. This positive momentum in the crypto world is partly attributed to the burgeoning interest in <a href="https://cryptonews.com/news/best-crypto-etfs.htm">Bitcoin ETFs</a>, a development that underscores the cryptocurrency’s growing acceptance in mainstream finance. 
Concurrently, Tesla’s unwavering hold on $380 million worth of Bitcoin through Q4 2023 plays a critical role in shaping market sentiment, while the SEC’s postponement of Grayscale and BlackRock’s Ethereum ETFs introduces a layer of uncertainty in the ETH market. 
<h2 id="tesla-s-q4-2023-bitcoin-holdings-influence-on-btc-prices">Tesla’s Q4 2023 Bitcoin Holdings: Influence on BTC Prices</h2> 
 In Q4 2023, <a href="https://usethebitcoin.com/teslas-q4-2023-earnings-reveal-steady-bitcoin-holdings/">Tesla’s Bitcoin (BTC) holdings remained steady</a>, as indicated in their recent earnings report released on Wednesday. The report didn’t mention any Bitcoin transactions, suggesting no buying or selling during the quarter. 
Currently valued at $387 million, <a href="https://cryptonews.com/news/bitcoin-price-prediction-2.htm">Tesla owns approximately 9,720 BTC</a>, ranking as the third-largest public holder after MicroStrategy and Marathon. Tesla initially invested $1.5 billion in Bitcoin in February 2021, acquiring around 43,000 BTC. 
 Tesla's <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> holdings stand strong at $184 million since Dec 2022, according to the Q4 2023 earnings report. 
No new purchases or sales, marking a period of inactivity in their <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> journey.<a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a> currently ranks fourth among public companies with 10,500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. … 
— Bitcoinbsc (@Bitcoinbsctoken) <a href="https://twitter.com/Bitcoinbsctoken/status/1750506344996606326?ref_src=twsrc%5Etfw">January 25, 2024</a> 
Despite selling 75% of their holdings in Q2 2022 amid COVID uncertainties, the electric car giant continues to maintain a substantial Bitcoin reserve. 
<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> holdings of Elon Musk's Tesla, worth nearly $387 million at current prices, remained unchanged in Q4 2023.<a href="https://t.co/lPfhWkK8jj">https://t.co/lPfhWkK8jj</a> 
— David odeyale (@odeyale_david) <a href="https://twitter.com/odeyale_david/status/1750687877644566850?ref_src=twsrc%5Etfw">January 26, 2024</a> 
Therefore, Tesla maintaining its Bitcoin holdings in Q4 2023 signals stability, impacting BTC price sentiment positively. With Tesla holding a significant amount, investor confidence in Bitcoin could strengthen, potentially contributing to sustained or increased value. 
<h2 id="sec-postpones-grayscale-blackrock-ethereum-etfs-eth-market-impact">SEC Postpones Grayscale, BlackRock Ethereum ETFs: ETH Market Impact</h2> 
 The U.S. Securities and Exchange Commission (SEC) has <a href="https://www.reuters.com/technology/us-sec-delays-decision-grayscale-blackrocks-spot-ethereum-etfs-2024-01-25/">postponed</a> a decision on Grayscale Investments’ request to convert its Ethereum trust product (ETHE) into an exchange-traded fund (ETF). 
However, BlackRock’s similar application also faced a delay. The SEC has been cautious about spot crypto ETFs, recently allowing only spot bitcoin ETFs in January. Therefore, the delay in deciding on Grayscale and BlackRock’s applications is not unexpected. 
In no surprise, the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECgov</a> has delayed decisions on spot <a href="https://twitter.com/hashtag/etherETF?src=hash&amp;ref_src=twsrc%5Etfw">#etherETF</a> applications from Grayscale and BlackRock.<a href="https://t.co/hLt54lbv7m">https://t.co/hLt54lbv7m</a> 
— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1750709597080350851?ref_src=twsrc%5Etfw">January 26, 2024</a> 
The filings raise questions about the similarities between spot Ethereum and spot bitcoin ETFs, addressing concerns like market manipulation and the size of the CME futures market. So, this echoes the SEC’s previous inquiries about bitcoin. 
Consequently, the SEC’s delay in approving spot ether ETFs from Grayscale and BlackRock has introduced uncertainty, potentially impacting Ethereum’s price. Market participants keenly await regulatory decisions, as approval could positively influence ETH’s value, while continued delays may introduce volatility. 
<h2 id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
The latest chart for <a href="https://cryptonews.com/news/bitcoin-price-prediction.htm">Bitcoin</a> (BTC) showcases a decisive break from its previous downtrend, marked by a bullish breakout past the critical $40,150 threshold. This movement is reinforced by the formation of bullish engulfing candles, suggesting a strong upward momentum. 
The pivot point at this juncture is defined by the green line, situated at $40,957, serving as a fulcrum for price action. Bitcoin Price Chart – Source: Tradingview 
On the downside, Bitcoin has immediate support at $38,618. Should this level be breached, Looking above this pivot, we identify three resistance levels at $41,927, $43,394, and $45,581, delineated by blue lines, which could pose successive hurdles for the ascent. 
Conversely, the red lines below the pivot point indicate support levels at $39,998, $39,644, and $38,618, which may offer a foundation for price stabilization in the event of a pullback. 
<h2 class="c-message_attachment" id="ethereum-price-prediction">Ethereum Price Prediction</h2> 
<a href="https://cryptonews.com/guides/ethereum-price-prediction.htm">Ethereum</a>‘s price action on January 26th shows a consolidation pattern, with the cryptocurrency trading near $2,254.6. It’s cradled by the pivot point at $2,237.1, which acts as a near-term fulcrum for price movements. 
Resistance levels are evident at $2,475.3, $2,426.7, and $2,360.1, each potentially capping upward moves. Support levels, denoted by the red lines, are positioned at $2,250.1, $2,237.1, and $2,168.9, offering floors for any retracements. Ethereum Price Chart – Source: Tradingview 
The 50-day Simple Moving Average (SMA) hovers at $2,237.1, providing a dynamic level of potential support. 
Current price stability near the pivot point suggests a tussle between bulls and bears, with a breakout above or below this zone likely to dictate the short-term trend. 
<h2 id="top-15-cryptocurrencies-to-watch-in-2023">Top 15 Cryptocurrencies to Watch in 2023</h2> 
 Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments. 
Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed. <a style="text-decoration: none;color: white" href="https://cryptonews.com/news/new-cryptocurrency.htm" target="_blank" rel="nofollow noindex noopener" data-darkreader-inline-color="">See the 15 Cryptocurrencies</a> 
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Bitcoin and Ethereum Price Prediction as Tesla Still Holds $380 Million BTC and Another ETH ETF Gets Delayed

Table of Contents

Cryptonews.com

Other articles published on Jan 26, 2024

Relief in Sight: JPMorgan Analysts Report Easing GBTC Sell-Off

Where Will Shiba Inu (SHIB) Be in 5 Years?

Crypto whales accumulating ETH, XRP, and GFOX

Dogecoin Founder Makes Curious AI 'Killer App' Prediction

Significant Milestones in Ethereum Development

Shiba Inu Whales Pause for Breath as Gigantic 228 Trillion SHIB Hurdle Looms

Join our free newsletter for daily crypto updates!