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#BRC20 Token Airdrop#New Year, New Highs: Bitcoin Breaks $45K for the First Time Since April 2022 (Market Watch)
After days and days of sideways trading around $42,000, Bitcoin started the new year with a bang and skyrocketed to nearly $46,000 for the first time since April 2022.
Many altcoins have come along the ride, with SOL and AVAX soaring by double digits and the total crypto market cap gaining approximately $100 billion overnight.
BTC Goes High
After a strong last quarter of 2023, BTC had calmed during the holidays and remained in a tight range between $42,000 and $43,000 for a week or so. Moreover, the asset slipped below the support line on a few occasions but managed to maintain its positive year ultimately.
Yet, it all changed on Monday evening. After sitting quietly at around $42,500, the cryptocurrency initiated a leg-up that resulted in a surge to $44,000. Tuesday morning brought even more joy for the bulls as BTC soared to and past $45,000 for the first time in nearly two years, leaving millions of short positions liquidated.
Just hours ago, the asset charted its local peak at $45,900 (on Bitstamp), and the community has prepared for a charge of $46,000 and beyond. Recall that CryptoPotato outlined three reasons why 2024 could be an even better year for Bitcoin.This resulted in a massive growth for BTC’s market cap, which is now close to $900 billion on CMC. Bitcoin’s dominance over the alts has also increased to 50.9%.SOL, AVAX See Double-Digit Gains
Although most altcoins have turned green today, many have been outperformed by BTC. These include ETH (6%), BNB (2.5%), XRP (2.4%), ADA (5%), DOGE (5%), DOT (6%), and MATIC (5%).
Nevertheless, there are also those that have charted more impressive gains than the largest digital asset. Such is the case with Solana and Avalanche. SOL has resumed its recent bull run and has soared by 13% to $115. AVAX is up by 11% and trades well above $40.
With most other altcoins charting notable gains over the past day, it’s no wonder that the total crypto market cap has seen a peak of its own at $1.770 trillion on CMC. That means the metric has added approximately $100 billion in a day. #The market bounces back hugely. BTC breaks out $45,000.#Is Ethereum Finally Going to Break Above $2.4K? (ETH Price Analysis)
Ethereum’s price has encountered a significant obstacle at the critical $2.4K resistance, leading to an extended consolidation phase within this pivotal range.
This situation and the bullish sentiment in the futures market have heightened expectations for a potential bullish breakout.
Technical Analysis
By Shayan
Ethereum Price Analysis: The Daily Chart
A detailed examination of Ethereum’s daily chart reveals an ascending consolidation period, with the price approaching a substantial resistance at $2.4K. This zone includes the static $2.4K resistance and aligns with the upper boundary of a multi-month wedge pattern, forming a robust barrier. Despite this, ETH is displaying bullish momentum, attempting to break above this crucial range. A successful breach could see the price reclaim the $2.4K resistance, setting the stage for a renewed bullish surge.
However, considering the bearish divergence between the price and the RSI indicator, there is still a possibility of a bearish reversal.
Despite the overall bullish market conditions, a sudden rejection may lead to a sustained cascade towards the 100-day and 200-day moving averages. Therefore, caution is advised during these market conditions, given the potential for sudden impulsive movements.The 4-Hour Chart
Examining the 4-hour chart, Ethereum appears to be confined within a critical range, bordered by the substantial support at $2.1K and the significant resistance at $2.4K, resulting in sideways consolidation. Notably, the $2.1K level aligns with the crucial range between the 0.5 and 0.618 levels of the Fibonacci retracement, acting as a notable barrier against sellers.
Despite this consolidation, the price has recently surged, reaching its prior major high near the $2440 mark. However, the outcome hinges on whether buyers can reclaim the $2.4K resistance. If successful, an ascending trend is likely. Conversely, a rejection could lead to a market decline towards the lower threshold of the range. $CPOOL boosts 12% as Clearpool executes massive Buyback, Burn
$CPOOL, the utility & governance token of Clearpool, a decentralized capital market ecosystem for institutional borrowing, is up over 12% & now trades around $0.12104, with inflow of $102.38k, as per Gate.io chart.
This follows the amazing reports from Clearpool that the Q4 2023 $CPOOL buyback has been executed using protocol revenue. The total revenue generated for the quarter was $84,512.98. With 50% ($42,256.49) subsequently used for the buyback & purchase of 336,009.19 $CPOOL which were burned, while the remaining 50% were deposited for Rewards. Bitcoin (BTC $45,674) hit new 21-month highs on Jan. 2 as excitement returned to crypto markets in the Asia trading session.
BTC/USD 1-hour chart.
BTC price closes in on ETF target range
Data from Cointelegraph Markets Pro and TradingView showed BTC price strength building as the new year holiday period ended.
Amid renewed excitement over the United States’ first spot Bitcoin exchange-traded fund (ETF), BTC/USD gathered steam to hit $45,922 on Bitstamp.
Rumors over the ETF abounded, these including a potential decision coming in advance of the official approval window, which begins Jan. 4.
Traders were in no two minds about the source of the latest BTC price upside. In an update to subscribers on X (formerly Twitter), Crypto Tony described “anticipation” of the ETF driving trajectory.
“Bitcoin is trading like an ETF is about to be approved,” trader, analyst and podcast host Scott Melker summarized.
Analyzing order book changes, fellow trader Skew noted that some selling was taking place, but that this remained comparatively muted in volume.
“Price stalling since spot selling started, eyeing previous highs as area of importance on a dip ($44.4K),” his latest X post confirmed.
As Cointelegraph reported, estimates for how high BTC/USD could go around the ETF focus on $48,000.
No major bloodbath for BTC shorts
Despite gaining up to 8% in 2024 already, Bitcoin nonetheless saw no significant losses from those betting the other way.
According to the latest data from statistics resource CoinGlass, just $38 million in BTC shorts had been liquidated on the day at the time of writing.
Previously, Cointelegraph reported on extremely high funding rates across exchanges, hinting at a broad belief that the ETF event would spark upside in advance.
Cross-crypto short liquidations meanwhile stood at $62 million.
BTC liquidations (screenshot).
Skew nonetheless noted that "earlier" shorts had been taken by surprise during the move past $45,000, with perpetual swap traders underprepared for a leg higher.
"So what is clear here is perp market was mostly underexposed overall to this current move which is being driven by spot, so this means with perps trailing spot price there is going to be a feedback loop of volatility especially around $45K," he commented.
#Share Gate.io Annual Report 2023 to Get Exclusive Merch# $STOS climbs over 13% following Nvidia Collaboration
$STOS, the native currency of the Stratos platform, used to leverage the Stratos modules, is up over 13% in the past 24hours, & now trades around $1.2166, with inflow of $117.25k, as per Gate.io chart.
This follows the big News that Stratos has joined the notable Nvidia Inception Program, that nurtures startups revolutionizing industries with cutting-edge tech, & will leverage the support of Nvidia GPU hardware & algorithms. Stratos has now gained access to a global ecosystem comprising venture capitalists, industry experts, & valuable marketing resources, opening up new opportunities for growth & collaboration. $VINU rises above 19% after Completing massive Token Burn
$VINU, the Multichain & governance currency of Vita Inu, the world's first fast, feeless dog coin with high TPS & native smart contracts, is up above 19% in the past 24hours, & now trades around $0.000000021883, with inflow of $148.96k, as per Gate.io chart.
This precedes the incredible Notice that the platform has recently carried out a significant 395,407,316 $VINU token Burn since last Monday, & permanently removed them from the Max Supply.The total Burned Supply is now 100,205,140,962,045, while the Max Supply remain 899,794,859,037,955. 
