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#$BTC Bitcoin dropped to $67,000, tracking overnight losses in gold and Nasdaq.

Fading Fed rate cut bets likely catalyzed the drop, one analyst said.

Broader uptrend to remain intact while demand for the spot BTC ETFs persists, QCP Capital said.

The price of bitcoin {{{BTC}}} fell to as low as $67,000 during Friday's Asian trading hours, down 7%, before recovering to around $68,500.

The CoinDesk 20 index, a measure of the largest and most liquid digital assets, fell 6%. Data from CoinGlass shows that over $100 million in long positions have been wiped out over the last 12 hours, while $167 million in longs have been liquidated over the last 24 hours.

Other assets like gold and Wall Street's tech-heavy index Nasdaq have also come under pressure this week.

Some analysts describe BTC's pullback from record highs as a typical bull breather seen after sharp uptrends.

"The recent strong [U.S.] CPI data has further cooled the expectation of a Fed rate cut, and gold prices have also tumbled. The recent surge in bitcoin prices has been too fast for the market to price correctly, so the a current correction is expected," Greta Yuan, Head of Research at VDX, a Hong Kong-licensed exchange said in a note.

Adrian Wang, Founder and CEO of Metalpha, said that market could be adjusting to uncertainties ahead of the next month's mining reward halving.

"The historical trading volume of Blackrock’s Bitcoin ETF has caused some unease in the market, with some stakeholders fearing that bitcoin's price will surge too much too soon and could experience a flash crash," Wang said in an email interview with CoinDesk. "The price correction indicates the market is adjusting its expectations on bitcoin given the uncertainties presented by the halving event as well."

That said, dips are likely to be fleeting, according to Singapore-based QCP Capital.

A prediction market contract on Polymarket gives a 38% chance that BTC will close above $70,000 by noon Friday in the U.S. Eastern Time, down from a high of 90% earlier this week.

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#BTC #HotTrends
#WLD #sol

Bitcoin pump$

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3 things to do to prepare for the Bitcoin Halving

The Bitcoin halving is a Bitcoin protocol event that occurs approximately every four years or after 210,000 blocks1. It is a way to limit the total supply of Bitcoin, increasing its scarcity2. When Bitcoin undergoes a halving, the reward given to the contributors securing the network is reduced by 50%, directly impacting the rate at which new Bitcoins are introduced into circulation1. The next halving is expected to occur in April 2024, after the last one in May 20203.

As a Bitcoin investor or enthusiast, you might want to prepare for the Bitcoin halving by understanding how it affects the supply, demand, and price of Bitcoin, and why it matters for your portfolio. Here are some tips on how to do that:

Research the historical performance of Bitcoin after each halving and how it influenced the market sentiment and adoption.

Monitor the supply and demand dynamics of Bitcoin and other cryptocurrencies and anticipate potential shifts in demand and supply due to the halving.

Evaluate your risk appetite and diversify your portfolio with other assets that can complement Bitcoin’s deflationary nature and hedge against inflationary pressures.

Stay informed about the latest developments and trends in the Bitcoin ecosystem and leverageCoinbase, a secure and easy-to-use platform to buy, sell, and store Bitcoin and other cryptocurrencies.

I hope this blog helps you prepare for the Bitcoin halving and learn more about this exciting event. If you have any questions or feedback, feel free to leave a comment below. 😊
#BTC #TrendingTopic #DOGE #Meme #sol

Little-known coins that have the potential to 10x in March.

While investing in cryptocurrencies always carries risks, these lesser-known gems might just surprise you. Remember to do your own research and consider your risk tolerance before investing. Here are three coins to keep an eye on:

1. Smog Token ($SMOG)

- Market Cap: $60 million (as of writing)¹.
- Unique Feature: Novel airdrop-themed utility.
- Why It Matters:
- Smog Token has gone viral in just eight days after launch.
- The Zealy campaign, rewarding users for completing quests, has seen 55,000 quests completed.
- Experienced Web3 team behind the project.
- Potential: On track to deliver 10x returns by March 2024.

2. Bitcoin Minetrix ($BTCMTX)

- Fundraising Milestone**: Recently crossed
$11 million.
- Why It Matters:
- Positioned to capitalize on Bitcoin's momentum.
- Growing interest from investors.
- **Potential**: Experts believe it will produce **10x returns** in the coming weeks¹.

3. SUPER

- Why It Matters:
- Large user base and game network.
- Impending enhancements.
- Price Target: Consider entry points now, targeting at least $1, with potential gains up to $2.

Remember, investing in cryptocurrencies is speculative, and prices can be volatile. Always diversify your portfolio and stay informed. Happy investing! 🚀🔥

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*Disclaimer: This post is for informational purposes only and does not constitute financial advice. Invest responsibly.

#Write2Earn #TrendingTopic #strk #MATIC #WLD

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$BTC Bitcoin Halving: Catalyst for Growth
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Understanding the Bitcoin Halving

The Bitcoin halving, a pivotal event in the cryptocurrency world, occurs approximately every four years. During this event, the block reward for miners is halved, reducing the rate at which new Bitcoins are created. The last halving took place in 2020, and the next one is expected in April 2024.

1. Supply Reduction: Miners currently sell around $1 billion worth of Bitcoin each month to cover operational costs. However, the upcoming halving will cut this natural selling pressure in half. We'll witness a shift from $12 billion annually to $6 billion.

2. Spot Bitcoin ETFs: As Bitcoin gains mainstream acceptance, spot Bitcoin ETFs are poised to increase buying pressure. These investment vehicles allow institutions and retail investors to gain exposure to Bitcoin without directly holding it.

3. Fair Value Accounting: New rules for fair value accounting will encourage corporations to adopt Bitcoin as a treasury asset. This move could create shareholder value by diversifying balance sheets¹.

Coins Poised for Growth

While Bitcoin remains the flagship cryptocurrency, several altcoins are positioned for exponential growth:

1. $ETH Ethereum (ETH): As the second-largest cryptocurrency, Ethereum's smart contract capabilities and decentralized applications make it a strong contender for substantial gains.

2. #Cardano (ADA): With its focus on scalability, security, and sustainability, Cardano has garnered attention. Its upcoming Alonzo upgrade could drive significant price appreciation.

3. Polkadot (DOT): Polkadot's interoperability and parachain ecosystem make it an attractive investment. As more projects build on Polkadot, its value may surge.

Remember, investing in cryptocurrencies carries risks, and thorough research is essential. While Bitcoin's halving provides a bullish backdrop, always diversify your portfolio and invest wisely.

*Disclaimer: This post is for informationa$l purposes only and does not constitute financial advice.

Top Coins to Watch: Underdog Crypto Gems That Might Surprise You in 2024

The crypto market is a wild ride, with established giants and promising newcomers jostling for position. While predicting the future is impossible, there are always hidden gems waiting to be discovered. Today, we'll explore some lesser-known coins with the potential to surprise you in the next few months.

Disclaimer: This is not financial advice. Do your own research before investing in any cryptocurrency.

1. Cosmos (ATOM): Interoperability is a hot topic in crypto, and Cosmos aims to be the "internet of blockchains." It allows different blockchains to communicate and exchange data seamlessly, potentially unlocking immense possibilities. With its growing ecosystem and recent developments, ATOM could see significant adoption in 2024.

2. #NEAR Protocol (NEAR): This sharded blockchain platform focuses on scalability and user-friendliness. Its unique sharding technology aims to solve the scalability issues plaguing Ethereum, potentially attracting developers and users. NEAR's recent partnerships and growing developer community suggest it could become a major player in the smart contract space.

3. #Filecoin (FIL): Decentralized storage is another exciting area, and Filecoin is a leader in this field. It allows users to rent out unused storage space on their devices, creating a global marketplace for data storage. With the increasing demand for secure and reliable storage, FIL could see significant growth in the coming months.

4. Polkadot (DOT): Similar to Cosmos, Polkadot aims to connect different blockchains but with a unique parachain architecture. This allows for specialized blockchains dedicated to specific tasks, potentially offering greater efficiency and security. DOT's strong community and ongoing development could lead to wider adoption in the future.

Remember: These are just a few examples, and the crypto market is constantly evolving. It's crucial to do your own research, understand the underlying technology, and consider your risk tolerance before investing in any crypto.