Celsius amasses 30 potential bidders for its assets, withdrawal motion approved
The bankrupt lender is set to hold auctions for its assets in January, while it’s been given the green light to return some customer funds.
The bankrupt lender is set to hold auctions for its assets in January, while it’s been given the green light to return some customer funds.
Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin recovered higher above the $16,800 resistance zone. The price is trading above $16,800 and the 100 hourly simple moving average. There is a rising channel forming with resistance near $17,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline unless there is a close above the $17,000 resistance zone. Bitcoin Price Faces Resistance Bitcoin price found support near the $16,250 zone. BTC traded as low as $16,260 and started a recovery wave. There was a clear move above the $16,500 and $16,600 levels. The bulls were able to push the price above the $16,800 resistance and the 100 hourly simple moving average. The price even spiked above the $17,000 resistance, but upsides were limited. A high was formed near $17,067 and the price is now trading in a range. Bitcoin price declined below the 23.6% Fib retracement level of the upward move from the $16,260 swing low to $17,067 high. It is now trading above $16,800 and the 100 hourly simple moving average. There is also a rising channel forming with resistance near $17,000 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $17,000 zone. The first major resistance is near the $17,200 zone. A clear move above the $17,200 resistance might call for a move towards the $17,500 resistance. Source: BTCUSD on TradingView.com The next major resistance is near $18,000, above which the price might gain pace and rise towards the $18,450 resistance zone in the coming sessions. Fresh Decline in BTC? If bitcoin fails to clear the $17,000 resistance, there could be a fresh decline. An immediate support on the downside is near the $16,800 level and the channel trend line. The next major support is near the $16,650 zone. It is close to the 50% Fib retracement level of the upward move from the $16,260 swing low to $17,067 high. A downside break below the $16,650 support might call for a drop towards the $16,260 level. Any more losses might send the price towards $16,000. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $16,800, followed by $16,650. Major Resistance Levels – $17,000, $17,200 and $17,500.
Very new to crypto and have seen Bitcoin as an attractive store of value due to being immune to inflation. How can eth compete with Bitcoin if it's supply is unlimited? submitted by /u/Thudrussle [link] [comments]
A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod Brown Suggests Banning Crypto U.S. Senator Sherrod Brown (D-Ohio), the chairman of the Senate […]
submitted by /u/o_LUCIFER_o [link] [comments]
What would be simplest method to search for, let’s say, wallet addresses that have an exact balance of 100 ETH? How would I go about that? Thanks submitted by /u/dappaman [link] [comments]
The FTX founder has reportedly signed on the dotted line, bringing him a step closer to returning to US soil.
submitted by /u/ersleid [link] [comments]
Grayscale Investments may offer to buy up to 20% of Grayscale Bitcoin Trust (GBTC) shares. This is a move the company hopes will close the gap between the GBTC share price and the company’s underlying Bitcoin holdings. Grayscale Can’t Act Independent Of Investors The Wall Street Journal released a letter by Grayscale CEO Michael Sonnenshein urging that Grayscale would consider issuing a tender offer should the Security and Exchange Commission (SEC) and shareholders give their approval. Being a close-ended fund, GBTC shareholders can only liquidate their holdings on the open market. Under the Williams Act (part of the Securities Exchange Act of 1934) that governs tender offers in the US, an investor tendering for a security must disclose their source of funds, legal agreements related to the offer, and reasons for the offer. GBTC trades at $8.08 on the 24-hour chart. Source: TradingView If the company cannot return GBTC shareholders funds, it will continue to offer the tender until it’s converted to an ETF. Sonnenshein wrote to investors: In the event we are unsuccessful in pursuing options for returning a portion of the capital to shareholders, we do not currently intend to dissolve GBTC, but would instead continue to operate GBTC without an ongoing redemption program until we are successful in converting it to a spot bitcoin ETF. Grayscale is currently embroiled in a lawsuit with the SEC after its application to convert GBTC to a spot Bitcoin ETF on June 29, 2022. The letter by the CEO was an attempt to ease shareholder concerns after a turbulent few months across the crypto market. Related Reading: GBTC Unlocks Spells Doom For Bitcoin? Top Expert Breaks It Down ETF Conversion Seems To Be Only Option As it stands, Grayscale doesn’t have a specific timeline for when it may explore other options apart from the ETF conversion. The lawsuit seems to be a long-drawn battle. Grayscale filed its opening brief against the SEC on Oct. 11, 2022. In response, SEC filed a brief on Dec. 13, 2022 denying Grayscale’s accusations that its rejection was discriminatory and arbitrary. The firm has until Jan. 13, 2023 to respond. Afterwards, a three-judge panel will be selected to listen to oral arguments and rule on the case. Grayscale’s Bitcoin Trust has roughly $10.78 billion or 633,000 BTC in assets under management. The fund has failed to meet its goal, and it’s currently changing hands at a 48.8% discount to Bitcoin. Source: YCharts Sonnenshein didn’t clarify if the business may later sell off its Bitcoin holdings. However, a market dump like Grayscale could see Bitcoin crashin to a fresh yearly low. Grayscale selling off its Bitcoin stash could also drive down confidence in crypto as significant liquidations for those engaged in Bitcoin derivatives markets. This would hurt crypto volumes, and send a bearish crypto market further down. Related Reading: Why The GBTC Discount Could Lead To A Bitcoin Sell-Off Featured image from Finbold, charts from Ycharts, and TradingView.com
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