DAILY CRYPTOCURRENCY NEWS

Bitcoin appears to be a corporate entity

In an interview with CNBC, Galaxy Digital CEO Mike Novogratz made clear that Bitcoin is now a corporate product. He argued that when compared to the Bitcoin situation in 2017, Bitcoin is moving much stronger now. Especially MicroStrategy and financial institutions that followed it also bought Bitcoin to protect themselves from the effects of inflation.

Trump Approves $ 900 Billion Support Package

The support package for the Kovid-19 outbreak in the USA was finally approved by President Trump. Within the scope of the 900 billion dollar package, those whose income is 75 thousand dollars and below will be provided direct cash assistance of 600 dollars and unemployment salaries of 300 dollars will be paid.

Another Punishment from SEC

The US Securities Commission SEC sued data verification startup Tierion's $ 25 million ICO for non-compliance with securities laws. Due to the lawsuit, Tierion will pay the SEC 250,000 dollars. Following this sanction, 1 billion TNT tokens were burned and 350 million TNT tokens sold to 4800 investors will be repaid.

Is SEC's New Chairman Cryptocurrency Friendly?

The SEC got its new president, Roisman, after the former president left office. During a committee he attended in 2018, Roisman argued that the difficulties encountered should be approached fairly while sharing his views on crypto money and that the uncertainties in the market for crypto investors should be clarified with laws.

Miami Mayor Defends Bitcoin

Making a statement on Twitter the other day, Miami Mayor Suarez, made a comment about Bitcoin "a stable investment in a very unstable year". Bitcoin had proven how profitable it was by seeing the level of $ 24,000 from $ 3,000 in 2020. President Suarez stated that Bitcoin is a success story and will attract more institutional investors every day.

Taproot Update in Bitcoin

Mining pools for Taproot, dubbed Bitcoin's biggest update, started supporting the update at a rate of 91.05%. Thanks to Taproot, privacy, security and efficiency in Bitcoin transactions will increase.

Bitcoin is Considered an Institutional Entity

In an interview with CNBC, Galaxy Digital CEO Mike Novogratz made clear that Bitcoin is now a corporate product. He argued that when compared to the Bitcoin situation in 2017, Bitcoin is moving much stronger now. Especially MicroStrategy and financial institutions that followed it also bought Bitcoin to protect themselves from the effects of inflation.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358836.94 TRY

Bitcoin refreshed its record as it tested the $ 28,400 level over the weekend. The FX and stock markets were closed due to the Christmas holiday, which shifted the volume to this side. With a market size of 513 billion, Bitcoin almost coped with Samsung. Especially the entry of institutional investors into the market and the shift of funds from XRP to Bitcoin, which is the largest and safe port of the market, has been the main source of the rise on this side. Bitcoin has gained 275% since the beginning of the year. It moved over 50% on a monthly return basis. Some metrics show that the Bitcoin bull run may pause for some time or request a rest. In addition to the level of supply for 1 and 3 months, the number of addresses with 10 or more BTC in their wallet looks like a market movement towards some profit sales. However, this correction may be short-term and distant because there is a demand for Bitcoin reaching $ 30 billion with the purchases of institutions.

When we consider the BTC / USD technically, the flag formation, which started in mid-December and broke down last week, has reached the $ 28,800 target, if we add the deviations. While Momentum and MACD are slowing down a little, the completion of the flag target signals us to pay attention to the 25,000-26,000 range. The support of $ 26,300, which corresponds to the Fibo'23.6 tranche, is the major short-term support. Going downstairs may direct the pressure towards profit sales. A sub-correction level corresponding to the Fibo'38.2 slice passes at $ 25,100 and stands out in correction scenarios.

RESISTANCES 28,491 / 29,982 / 31,511
SUPPORTS 25,471 / 23,942 / 22,451

BITCOIN [BTC] 358836.94 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24775.20 TRY

Ethereum has hit its highest level since May 2018, when it tested the $ 700 level. ETH / USD, priced at $ 710 levels with an increase of 3.5% this morning, seems to have started its own movement. The ETH / BTC splitter is pointing to a reversal from oversold and a correction in favor of ETH. However, the fact that the BTC dominance is at 70% and the DeFi's stay in the background regarding the locked money alone seems positive for ETH. The number of ETH locked in Ethereum exceeded 2 million last week. While the expectations for the 2.0 update are giving morale, we are slowly starting to price the positive reflection of this situation.

When we consider ETH / USD technically; The double bottom pattern, which is formed in the weekly period and we have mentioned before, points to the $ 740 levels. We do not have any significant resistance in this region at current levels. We even stated visually and in writing that the 630-720 $ area was empty. Therefore, we are in a comfortable zone. Our intermediate support is at $ 670 and there may be a recovery in retracements. The outlook is positive and on an uptrend.

RESISTANCES 745 / 779 / 839
SUPPORTS 651 / 591 / 557

ETHEREUM [ETH] 24775.20 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 323.87 TRY

AVAX / USD is entering the week horizontally at $ 2.89, down 0.5%. Although there has been a slight upward movement from the $ 2.80 support, there is a horizontal movement in the short term. On the other hand, it has not been able to leave its descending trend yet. In the upward moves, the $ 3.20 Fibo'23.60 correction levels may come to the agenda because we can also talk about the upward movements in case of persistence, but as of now there is no recovery in sight, we are following the weak course in the downward trend.

RESISTANCES 3,0268 / 3,1692 / 3,2626
SUPPORTS 2,7910 / 2,6976 / 2,5552

AVALANCHE [AVAX] 323.87 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.34 TRY

XRP / USD fell to $ 0.20 after being sued by the SEC, followed by a response to $ 0.39 due to the worst-case scenario left behind and the newly appointed SEC Chairman Roisman being more crypto-friendly than the previous administration. However, after the recent reaction, XRP has resumed its decline. Moreover, after the announcement that Ripple and Stellar's founder Mac Caleb would be sued against Ripple, he stopped selling XRP on a daily basis as a result of the deal. All of this has raised questions. As the Research Team, our opinion is that the weak course of XRP will continue. The reactions are in the opposite direction of the trend and therefore not long-termed. The management staff of the Ripple Company that may change will be positive in terms of XRP prices. however, there is no such news flow for now.

Technically, when we consider XRP / USD, the recovery remains weak and the double-top formation continues. The target of this formation corresponds to the levels of $ 0.17-0.20, which is quite close to this region. Therefore, the technical outlook is weak and resistance levels are the turning point in possible rises, and the bullish reactions are opposite to the trend and reverse movement. The outlook is negative and weak.

RESISTANCES 0,3115 / 0,3392 / 0,3634
SUPPORTS 0,2596 / 0,2354 / 0,2077

RIPPLE [XRP] 8.34 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 984.23 TRY

Litecoin is pricing above the $ 130 level, up 3.5% this morning. LTC, which increased by 80% in monthly returns, is in a positive position compared to Bitcoin, which rose 50%. Litecoin can be a pioneer in BTC movements with its high correlation with Bitcoin and its volatility. For this reason, Litecoin in technical view and Bitcoin in transactions can be the pioneer.

When we examine the LTC / USD 'parity technically, we see that LTC, priced at $ 110, ended without approval from the OBO formation, which would affect the continuation of the weak outlook and got rid of this weak technical view. In case of holding on to the $ 110 support, $ 124 pricing may come to the agenda, but after the $ 124 test, there was a descending channel appearance due to the falling price peaks. Although the level we will follow today is $ 113, this current level will play an important role in breaking the descending channel. As we mentioned in the Crypto Zoom publication, the completion of the $ 145 level will offer a double bottom and bowl view on a weekly basis. If this outlook is in question, the target of the formations is $ 270. For this reason, we find LTC positive and continue to like it in the medium term.

RESISTANCES 138,16 / 147,08 / 155,15
SUPPORTS 121,17 / 113,10 / 104,18

LITECOIN [LTC] 984.23 TRY +7.00 +0.03 VOL 21 LTC

We can say that the LINK / USD parity has decreased the downward trend with the recovery moves after the sharp decreases and getting rid of the selling pressure. Although the developments between the SEC and Ripple affect pricing negatively, we have stated that Cahinlink is an Ethereum consensus product and the SEC does not pose a threat to the product. Therefore, a conclusion against any of the parties does not support the rumors about Chainlink for now. On the other hand, we can witness positive developments in the long term under the leadership of liquid entries to the ongoing stock markets. With the movements on the Ethereum side, the ETH-LINK shears can also be narrowed.

When we look at the parity from a technical point of view, we see that the course within the downward channel boundaries continues in LINK / USD, which is priced at $ 12 with a depreciation of 0.3%. Although its stance is considered weak in the technical outlook with a 4.5% decrease in monthly returns, upward moves are possible if it can hold the level of $ 11.4. For the bullish channel to come back to the agenda, we should wait for the $ 13.5 level to be exceeded. Nevertheless, movement may begin with his exit from the descending channel and breaking up the $ 14 level, which is the upper band of the channel. Although it has potential in macro view, it seems that the course is weak technically. Below the $ 11 level, we are witnessing that the market purchases react, but for now, persistence is not achieved. 
Bu kaynak metin hakkında daha fazla bilgiEk çeviri bilgileri için kaynak metin gerekli

RESISTANCES 13,46 / 14,67 / 16,15
SUPPORTS 10,77 / 09,29 / 08,08

BASIC ATTENTION TOKEN [BAT] 5.57 TRY

The BAT / USD pair is currently down 1.5%, pricing around $ 0.21. Even though the parity is close to an upward trend after the 5% upward reaction, the movements in the sagging regions may be determinant. Both bullish channels actually show where there might be a reaction in BAT / USD. Both of these trend ranges pass through the 0.2030-0.2090 level. The view follows the reaction from sailing near the support zones and is horizontal.

RESISTANCES 0,2236 / 0,2325 / 0,2432
SUPPORTS 0,2040 / 0,1933 / 0,1844

BASIC ATTENTION TOKEN [BAT] 5.57 TRY +7.00 +0.03 VOL 21 BAT

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