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George Georgiev



Articles by George Georgiev

Long-Term Holders and Whales Continue Accumulating Despite the Bitcoin Crash (Research)

1 day ago

Crypto markets experienced the sharpest drops since July of 2021, correcting as much as 52%. While the macro bear scenario is still very much in play, some critical on-chain indicators are showing how long-term investors remain unfazed by this news, and whales continue to accumulate.
Bitcoin’s Ownership Through the Dip
The data from IntoTheBlock classifies as hodlers all addresses that have been holding an asset for a weighted average time of at least one year. Growing long-term investors suggest the belief that an asset will retain or increase its value over time, which is a key characteristic of store of value assets.
Source: IntoTheBlockIn Bitcoin’s case, the number of hodlers has grown consistently regardless of price volatility, managing to increase through the recent

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Top 10 Most Expensive NFTs Ever Sold (Updated 2022)

4 days ago

2021 was the year when cryptocurrencies and blockchain technology witnessed massive growth, both in market capital and infrastructure development.
One thing that caught the attention of the crypto community and the mainstream audience was the rise of non-fungible tokens (NFT). In case you’re unfamiliar with what these are, please take a look at our video guide on NFTs, or its written version.
They saw exponential growth in 2021, as the digital space was being reshaped by the blockchain, where anything could be tokenized and turned into an NFT. With billions of dollars swirling in the industry, we take a look at some of the most expensive NFTs sold to date.
10 – Save Thousands of Lives — $4.5

Save Thousands of Lives is an NFT created by Noora Health, an organization that

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OpenSea Exploit: Bored Ape 8924 Scooped at 92% Discount of Floor Price

4 days ago

OpenSea’s front-end issues continue to cause losses for NFT holders, and according to one BAYC member, it just cost him Bored Ape #8924.
As CryptoPotato reported earlier today, multiple sources pointed towards a front-end exploit in OpenSea’s platform.
This had already allowed a malicious party to obtain roughly $750K worth of ETH, but it seems that the issues are only increasing.
Twitter user VirtualToast.eth reported that their Bored Ape #8924 was purchased for 6.66. For context, that’s around 92% less than the current floor value for the Bored Ape Yacht Club collection on OpenSea.
This is what the ape looks like:
Source: OpenSeaThe user also appealed to anyone who might have an ape that’s ever been listed for a lower price:
If you have an ape that’s ever been listed for

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Decentraland Guide and Review: How to Play the Blockchain Game?

6 days ago

Online gaming is arguably one of the best use cases for blockchain-based technology. The ability to assign traceable and verifiable ownership to in-game items provides tremendous capabilities.
This concept has grown in popularity, and perhaps one of the first games to pioneer the field was Decentraland.
The below is a comprehensive guide on Decentraland – what it stands for, how it was launched, and how to play it in a detailed step-by-step guide.
Quick Summary:
Name: Decentraland
Launch date: 20.02.2020
Tokens and network: Ethereum, LAND, MANA
What is it about: Decentraland is a decentralized virtual platform where users can create, travel, and monetize experiences, content, and applications.
Associated brands and celebrities: Samsung, Australia Open 2022, Digital

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Bitcoin’s RSI is Now at the Most Oversold Level Since the March 2020 COVID Crash

6 days ago

The cryptocurrency market lost over $400 billion worth of its capitalization in the past few days alone. The total market cap currently sits below $1.7 trillion.
This came as most of the coins are down tremendously in the past week. Ethereum is down 27.7%, BNB is down 27.8%, ADA is down 17.6, SOL is down 36.2%, and so forth. Bitcoin’s price is currently sitting around $35K and has lost almost 20% in the same time frame.
From a technical perspective, it’s important to note that the Relative Strength Index (RSI), which is commonly used to gauge the magnitude of recent price changes to evaluate market conditions, is down to the oversold area, as seen in the chart below.
Source: TradingViewAn interesting thing to consider is the fact that the RSI hasn’t been so oversold since

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$1 Billion Just Sent From Tether Treasury to Binance: Here is Why

6 days ago

Amid the current market crash, $1 billion worth of USDT was transferred from Tether’s treasury to Binance.
The past couple of days were particularly devastating in both the cryptocurrency and the legacy markets.
During Saturday’s trading session, Bitcoin’s price crashed to a low of around $34,000 on Binance, and it’s currently trading at around $35K, struggling to hold above that level.
Now, Whale Alert detected that $1 billion worth of USDT was transferred from the Tether Treasury to Binance.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,000,000,000 #USDT (1,000,000,000 USD) transferred from Tether Treasury to #Binancehttps://t.co/pctmfmlhGy
— Whale Alert (@whale_alert) January 22, 2022

Tether was quick to explain what happened.
In few minutes, Tether will coordinate with a 3rd party to

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Bitcoin Loses $40K, Ethereum Below $3K: This Red Week’s Crypto Recap

7 days ago

To say that the past seven days were bad in the cryptocurrency market would be kind of an understatement. Most of the coins are down by solid double digits as the total capitalization lost around $250 billion and fell below $2 trillion.
Let’s start with Bitcoin. The cryptocurrency was behaving relatively well throughout most of the week, and it even managed to reach above $43K earlier on Thursday, attempting to conquer the resistance above that – at $44K. On Friday, though, everything took a turn for the worse. The price crashed from above $43K to below $38K, charting a six-month low as the last time BTC was trading below $38K was in August 2021.
Now, it managed to recover some of the losses and trades slightly below $39K, but it’s still down 9% in the past seven days.

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Serena Williams Joins BAYC: Gets a Bored Ape NFT

8 days ago

Serena Williams – arguably the best female tennis player to have ever played the game, at least measured by Grand Slam titles – has bought a Bored Ape NFT.
Serena Williams is one of the most influential tennis players of the open era, having won a total of 23 Grand Slam titles in her career up to date.
It appears, though, that she is also an avid enthusiast of non-fungible tokens (NFTs).
Her current Twitter profile picture is a pixelated Crypto Punk-inspired display.
The athlete has just posted, however, a Bored Ape NFT from the Bored Ape Yacht Club collection, indicating that she’s the latest celebrity to join this exclusive club.
This is what her ape looks like:
Source: TwitterIt appears that Alexis Ohanian – the founder of Reddit – is the one who gifted Williams the

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Google Considers Allowing Users to Store Crypto in Digital Cards (Report)

9 days ago

Tech mogul Google is reportedly considering to further its involvement in the field of cryptocurrencies.
Google, one of the world’s biggest companies and the leading search engine, is considering to allow users to store cryptocurrencies in digital cards.
According to the Bloomberg report, the company has also hired Arnold Goldberg to spearhead its payments division.
Goldberg was previously the VP of Merchant Product and Technology at payments processing giant PayPal.
The company has some ties to the crypto industry but nothing too definitive until now. As CryptoPotato reported earlier in 2021, Alphabet – Google’s parent company, invested $1 billion in the futures exchange CME which is one of the leading providers of institutional-grade BTC futures.

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Shiba Inu Team Warned of Misleading SHIB Addresses on CoinMarketCap

12 days ago

According to a tweet sent from the verified Shiba Inu Twitter account, CoinMarketCap intentionally listed 3 fake smart contract addresses of SHIB.
The team, therefore, warned that these addresses found on the Binance Smart Chain, Solana, and Terra are not safe to use.
Going even further, the team warned users not to interact with these contracts and not to purchase SHIB from them because the “funds will be irreversibly lost.”
Shiba Inu’s team also argued that CoinMarketCap “has refused to communicate with the SHIB team on updates to the token page and willingly allowed malicious actors to vandalize our listing”
Responding to the allegation, CoinMarketCap acknowledged that it actually listed three SHIB addresses. However, the platform argues that these are not malicious

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Bitcoin Tests $44K, Tesla Accepts Dogecoin, and More: This Week’s Crypto Recap

14 days ago

For the first time in quite a bite, the past seven days have turned out to be positive for Bitcoin, although the overall cryptocurrency market is slightly down throughout the same period. Data from CoinGecko shows that the market capitalization is down some $40 billion.
Starting with Bitcoin, its price was hovering around $41,000 this time last week and very soon after that increased to $42K only to drop towards $40K on Monday. Since then, however, the cryptocurrency has been on an uptrend and even surged to $44K on Thursday.
The bulls failed to sustain the momentum, though, and BTC retraced to $42K earlier today. Since then, it recovered some of the losses and is currently trading around $43K for a slight weekly increase.
Most of the altcoins are also trading at prices

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The Bored Ape Yacht Club (BAYC) NFT Collection: Everything You Need to Know

15 days ago

Non-fungible tokens have been the hottest trend in 2021. They saw global recognition, mainstream adoption, and overall acceptance in and out of the cryptocurrency industry.
The astronomic surge in popularity of non-fungible tokens (NFTs) led to a massive demand (and an even higher supply) of various collections, each one with its intricacies and perks.
Undoubtedly, one of the most popular NFT collections, which even became the most expensive in terms of floor price as of writing this in January 2022, is the Bored Ape Yacht Club (BAYC).
In this editorial, we will take a closer look into the BAYC collection, why it is so popular, what’s the most expensive Ape sold on the market, and which celebrities have been endorsing it so far.
What is the Bored Ape Yacht Club?
The Bored

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Near Protocol Closes $150M Funding, NEAR Price Eyes $20

15 days ago

NEAR protocol has managed to close substantial funding round from top cryptocurrency investors in preparation for a further DeFi-oriented advance.
NEAR Protocol has closed $150 million in funding from high-profile investors, reported CoinDesk.
Some of the names include Alameda Research, Su Zhu’s Three Arrows Capital, Dragonfly Capital, Andreessen Horowitz (a16z), and others.
The funding reportedly happened through a private token sale. It was completed in two weeks which is indicative of the high interest in the protocol.
Speaking on the matter was Ashwin Ramachandran – a General Partner at Dragonfly, who said:
Near has done a great job from a technology standpoint, and we want to help them achieve a level of developer, user, ecosystem adoption which reflects their current

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Leading VC Andreessen Horowitz Raises Another $9 Billion

20 days ago

Andreessen Horowitz – a leading venture capital firm and a prominent investor in the cryptocurrency space – has raised a fresh $9 billion to further its involvement in the growing industry.
Andreessen Horowitz (a16z) is amongst the leading venture capital companies investing in all sorts of crypto and tech-related projects.
According to a recent announcement, the firm has raised a fresh $ billion “to invest via our Venture, Growth, and Bio Funds.”
Out of the total number, $1.5 billion will go to the Bio fund, $5 billion to the Growth Fund, and $2.5 billion to the Venture fund.
… coupled with the $2.2B Crypto Fund and $400M Seed Fund we raised in 2021, we will continue to invest across the entire spectrum of stages, writing checks as small as $25,000 and up to hundreds of

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Spanish Politician Argues the Country to Position Itself as a Bitcoin Mining Hub

20 days ago

Spanish politician and deputy of the Ciudadanos in the country’s Congress, María Muñoz, has proposed the creation of a national strategy to attract Bitcoin miners and other crypto-related activities following the protests in Kazakhstan.

María Muñoz took it to Twitter yesterday to bring up a proposition where Spain positions itself as a future Bitcoin mining hub. 

The protests in Kazakhstan have repercussions all over the world, also for Bitcoin. We propose that Spain positions itself as a safe destination for investments in cryptocurrencies to develop a flexible, efficient, and safe sector. – She wrote.

The politician also attached the entire proposition, which further revealed the creation of a national strategy in this regard.
Last year we have proposed the creation

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2022 Opens in Red: BTC at 3-Month Low on Fed Balance Sheet Reduction Plans (Weekly Recap)

21 days ago

The first week of 2022 is starting off rather dramatically for Bitcoin and the rest of the cryptocurrency market, the total capitalization of which is down about $240 billion in seven days. This comes as the US Federal Reserve revealed plans to start reducing its balance sheet, which may start as soon as the next several months.
It’s safe to say that the Bitcoin price has seen better days. Down about 12.5% since this time last week, BTC currently trades at around $41,400. For the majority of the time throughout the past seven days, the cryptocurrency was chopping sideways, but then on January 6th, things took a turn for the worse when the price dropped towards $46K. Bears weren’t done yet, and today the price seems to be headed lower, having dipped below $41K.
The market

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Bitcoin’s Sideways Action Continues, But Bearish Signs Pop (BTC Price Analysis)

23 days ago

Bitcoin’s sideways action continues. Since 2022 began, the bitcoin price has been trading inside a tight range of roughly $2K. This is very untypical for Bitcoin and usually ends with a massive move in either direction.
Option Market Analysis
While the bitcoin market is showing weakness, the BTC options market has seen a sharp open interest decline after 2021‘s most significant options expiry.
The historical volatility level of bitcoin dropped sharply and is currently at 49.2%. It seems that for now, many heavy investors prefer to hold their trades and wait for the next price developments over the upcoming days. It is safe to say that uncertainty is evident among the options traders.

Technical Analysis: The Short Term
Looking at the 12-hour time frame chart of BTC, there

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Bitcoin Price Analysis: BTC Consolidates as Huge Move Appears Imminent

25 days ago

Bitcoin is fluctuating sideways, and it has exhausted retail investors. Looking at the market’s low volume and volatility structure, an imminent significant move is expected in the coming days. In the past few days, both bears and bulls struggled to win the game.
The price is currently on a critical level (orange box), and breaking above or below this box will determine the mid-term direction. In the case of being supported by the orange zone, reaching $75K is not so out of reach. However, if the bears show more power, the price will return to the lower base range (green) formed in the last 12 months on a daily time frame.
Therefore, forming a lower low, in this scenario dropping to $30K levels, will confirm the bear market for mid-term to long-term.
Source:

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Eminem Buys a Bored Ape NFT for $462,000

27 days ago

The hip hop megastar Marshall Mathers, better known for his stage name – Eminem, has become the latest super celebrity to purchase a Bored Ape NFT.
Bored Ape #9055. Source: TwitterAs CryptoPotato reported earlier, NFTs from the Bored Ape Yacht Club (BAYC) collection have seen their floor price increase by 35% while that of other popular collections decreased in turn.
Part of the reason for this might be the fact that many super celebrities such as Steph Curry have jumped on board and bought a Bored Ape for their Twitter profile pictures.
Now, the latest to join the hype is no other than the hip hop legend and megastar – Eminem.
The Oscar winner paid 123,45 ETH for Bored Ape #9055, which the community has already called EminApe.
The Twitter user who sold the ape to Eminem,

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Bitcoin Price Analysis: Despite Recent Dip, Some Good News for The Bulls

27 days ago

Options Market Analysis
After bitcoin dipped to $42K on December 4th on Omicron fears, its price could not move higher than $52k over the last month. BTC is now trading at $47k. Short-dated ATM-implied volatility peaked at 94 and is currently sitting at 66.
Source: Laevitas.chCalls for a $50K strike price have the highest open interest for 2,3 & January 7th expiries. Lots of calls were sold for these expiries over the last few days. It seems that low demand in the spot market caused option traders not to be optimistic about an increase in price higher than $54K for the expires in the first week of January.
Source: Laevitas.chTechnical Analysis
On the daily timeframe, bitcoin is completing the pullback to the broken trend line (yellow ones), both price and RSI. But we can

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Cardano Founder Charles Hoskinson Argues Regulators Will Clamp Down on NFTs in 2022

27 days ago

Charles Hoskinson, the founder of Cardano – one of the world’s leading blockchain projects – laid out some thought on the last day of 2021. Yesterday, he went live on an hour-long YouTube video, talking about the past, the present, and the future of Cardano and the industry as a whole.
One of the things that Hoskinson mentioned in the video is that 2022 will probably be one of the best years for the industry and for Cardano, specifically.
He also outlined that the market grew too quickly and that “we’re going to digest as an industry the consequences for better or worse of becoming so big so quickly.”
Among some of the predictions he made in the video, he also said that “we’re probably going to have a resolution on the Ripple case,” while also outlining that, at this

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Shiba Inu and the Rest: Top 8 Influential Altcoins in 2021

28 days ago

Another year has passed, and so many things have happened in the cryptocurrency industry that it’s hard to grasp it all took place within 12 months.
With this article, we will take a look at some of the most influential altcoins throughout 2021. This doesn’t aim to summarize solely price performance, although it’s been considered, but the overall impact on the market, as well as potential future implications.
It’s also worth noting that it’s questionable if the market would have turned out the way it did if it wasn’t for Bitcoin’s stellar performance in terms of both price and adoption. While it might not have increased in value as much as some altcoins, it remains the driving factor within the cryptocurrency field and the stepping stone for the vast majority of

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Last Weekly Recap of 2021: Russia’s Crypto ETF, BTC Below $50K

28 days ago

There are just a few more hours left to 2021 and what a wild ride it has been! Surely, it was the most explosive year in the cryptocurrency market in terms of both adoption and price performance. This is our last weekly recap and, unfortunately, things are not looking their best.
Starting with BTC, the past seven days ended with a 5.4% decline and the cryptocurrency retracing back below $50K. At the time of this writing, bitcoin’s price sits at $48K, up 1% in the past 24 hours.
Things were looking good for BTC but it was on Monday when everything took a turn for the worst. The cryptocurrency was rejected at $52,000 and started plunging towards $50K. This level was also lost the following day and the price found a potential local bottom at above $46K.
The altcoins market is

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Shanghai to Encourage Metaverse Use, Reveals 5-Year Development Plans

28 days ago

The metaverse narrative continues to boil, and the latest mention comes from a point of high authority. China’s biggest city appears to be getting serious about it.
According to a CNBC report, Shanghai is eager to tap into the potential of what many believe to be the next-gen internet.
Local authorities have issued development plans for the next five years, and one of them mentions the metaverse, according to media reports from China.
According to a reported translation of an excerpt from the plan’s text, it calls for “encouraging the application of the metaverse in areas such as public services, business offices, social entertainment, industrial manufacturing, production safety, and electronic games.”
Moreover, the Chinese commission has also stated that it plans to

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Bitcoin Facing Friday’s Options Expiration, Will 2021 End With A Huge Move? (Price Analysis)

29 days ago

December was a tough month for the price of BTC, recording a monthly low on December 4 just below $42K, according to Bitstamp. A little more than one day remains for this year, and it seems that BTC will end 2021 beneath the $50K price mark.
Options Market Analysis
An important factor that should be considered in options market analysis, especially in noteworthy expiries, is the Max Pain Price.
Max pain price is the strike price that brings maximum loss to option buyers. Maximum pain theory says that an option’s price will gravitate towards a max pain price as the expiration date nears.
On Friday, 31 of December, massive expiry with a notional value of $5.4B will occur on Deribit Exchange. Max pain price is $47k. Even though it’s hard to speculate about the effect of a

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Top 5 Crypto Trends in 2021

29 days ago

It’s safe to say that 2021 was a particularly explosive year for the entire cryptocurrency market. It was also one where particularly strong narratives were centered around different segments – a year full of plot changes and various metagames.
With this said, as we approach the last hours of the year, we’ve taken the liberty to cherrypick five of the most influential trends during the past 12 months. The below come in no particular ranking as all of them excelled in specific areas.
So, without further ado, let’s dive in.
Memecoins
Although some might argue that memecoins came to prominence in 2020 during the so-called DeFi summer, they objectively took the center stage in 2021 – on a few occasions.
Unlike other trends, though, memecoins were seemingly propelled by a

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MicroStrategy Buys Another $94 Million Worth of BTC Amid $49K

29 days ago

MicroStrategy – the company, spearheaded by one of the most popular and prominent Bitcoin permabulls, Michael Saylor – announced today that it had bought another $94 million worth of BTC.
MicroStrategy has definitely made a name for itself in the past couple of years when it comes to acquiring BTC.
Today, Saylor announced that the company has bought another 1,914 bitcoins for roughly $94.2 million in cash.
The average price of the buy was around $49,229 per BTC.
At the time of this writing, the company owns 124,391 BTC, which is currently worth around $3.75 billion.
The average price that MicroStrategy has on its bitcoin purchases is approximately $30,159.

MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229

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While BAYC Spiked 35% in 90 Days, Other Popular NFT Collections Plunged in Value

December 29, 2021

The world of NFTs continues to boom as more and more people seem attracted to the idea of scarce digital art. However, while some projects are surging in value, others are on a rather downward slope.
Data reveals that over the past three months, the floor price, which is the lowest price for a non-fungible token (NFT) from a certain collection, for the Board Ape Yacht Club NFTs increased by a considerable 35%.
As CryptoPotato reported earlier in December, the floor price for the BAYC NFTs surpassed that of the famed Crypto Punks for the first time in history.
At the time of this writing, though, the punks reclaimed the throne of the most expensive NFTs, at least in terms of floor price, which currently sits at slightly over 66 ETH.
Nevertheless, it appears that Crypto

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Fake MetaMask Governance Token Soars 2600% and Gets Rug-Pulled

December 28, 2021

The rumors of a potential MetaMask governance token airdrop have been going rampant on Crypto Twitter for quite some time now. it appears that scammers are taking full advantage and have managed to lure several hundred users in their schemes.
MetaMask is the most popular non-custodial wallet for Ethereum and it played a huge role in the DeFi summer of 2020.
Ever since Uniswap airdropped its governance tokens, many decentralized projects are doing the same.
Now, users are speculating that MetaMask is going to do an airdrop and many seem to believe that their snapshots would be taken in a few days – on New Year’s Eve.
As of yet, though, these are only rumors and speculations as MetaMask hasn’t officially confirmed anything.
This is where scammers come into the picture.

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Bitcoin Price Analysis: Bitcoin Plunged Over $4K In a Day, Where is the Next Key Support?

December 28, 2021

After the price topped at $52K on Monday, Bitcoin had lost over $4000 in just a day. Is BTC entering a deeper correction, or where is the local bottom?
Technical Analysis
Short-Term Analysis
Last week the bitcoin price broke above a mid-term descending trend line on the 4-hour timeframe. After completing a pullback, the price increased again and touched $52k resistance (Monday).
However, the market did not have enough momentum to continue the rally (low volume), and the bears won the battle. For now, BTC is supported by the static support zone – as can be seen on the following chart.
If BTC loses the first support zone, the $45k-46k range will be the next critical supporting level. Additionally, looking at the RSI indicator, we can see that the lower band of the Bollinger

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