Bitcoin remains at around $43,000, Celsius sells Ethereum until the 12th

Macroeconomics and financial markets

On the US New York stock market on the 16th, the Dow Jones Industrial Average closed down 231.8 points (0.62%) from the previous day, and the Nasdaq index closed down 28.4 points (0.19%).

Among U.S. stocks related to crypto assets (virtual currency), Coinbase rebounded, rising 2.3% from the previous day, while mining stocks such as Marathon Digital and Riot continued to fall.

CoinPost app (heat map function)

connection:10 major virtual currency stocks in the Japanese and US stock markets

Virtual currency market conditions

In the crypto asset (virtual currency) market, the Bitcoin price rose 0.46% from the previous day to 1 BTC = $42,993.

BTC/USD weekly

Michaël van de Poppe assumes a scenario in which the subsequent price movement is negated by the high return of 1 BTC = $46,000 and falls below $40,000.

Primary scenario for #Bitcoin is basically a rejection at $46K and then a correction to sub $40K.

Still liquidity ready to be taken there and it would cause a chain reaction across the markets, FUD, negative sentiment (unjustified) and such.

Always ready to buy the dip. pic.twitter.com/G6kxSS2uGZ

— Michaël van de Poppe (@CryptoMichNL) January 16, 2024

Julio Moreno considers the prospects for the downside of Bitcoin (BTC) based on the realized price.

How low can Bitcoin go after this recent correction?

To evaluate this I like to look at the realized price of 1 to 3 month-old holders.

This metric has represented a support level historically and during 2023. It stands right now at $36.7K. pic.twitter.com/B0ZnmaE8cT

— Julio Moreno (@jjcmoreno) January 15, 2024

Based on the realized price, which represents the average purchase price of holders (short-term holders) who have purchased Bitcoin for 1 to 3 months, they concluded that 1 BTC = $36,700 would be important if the correction is prolonged.

If the market falls below this level, it will be interpreted as a sign of further downward pressure, and maintaining this level could lead to market stability.

Arthur Hayes, founder of BitMex, said: “The bull market is just beginning. 2024 will be a bumpy year, but by the end of this year, Bitcoin’s market capitalization will surpass its all-time high.” I’m predicting that,” he said.

connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

altcoin market

Ethereum (ETH) rose 2.14% from the previous day as Bitcoin (BTC) rebounded.

According to blockchain analysis firm Arkham Intelligence, Celsius Network, a major cryptocurrency lending company that went bankrupt in July 2022, may have sold $125 million worth of Ethereum (ETH) toward the 12th of last week. There is.

Looks like Celsius took the opportunity to unload >$125M of ETH over ETF Week.

In the past week, they’ve deposited $95.5M to Coinbase and sent $29.73M to FalconX.

They still have $1.4 billion (540K ETH) remaining.https://t.co/jp1PJbN46r pic.twitter.com/xgfX6yU5Ye

— Arkham (@ArkhamIntel) January 13, 2024

It appears to be part of bankruptcy proceedings to repay creditors.

Over the past week, they sent $95.5 million to Coinbase and $29.73 million to FalconX. He reportedly has 540,000 ETH (equivalent to $1.4 billion) remaining in his wallet.

connection:Selling pressure on ETH, Celsius releases Ethereum staking, waiting for withdrawals worth 67 billion yen

Bitcoin ETF special feature

We have introduced the “Heat Map” function to the CoinPost app for investors!
In addition to important news about virtual currencies, you can also see at a glance exchange information such as the dollar yen and price movements of crypto asset-related stocks in the stock market such as Coinbase.

■Click here to download the iOS and Android versions
https://t.co/9g8XugH5JJ pic.twitter.com/bpSk57VDrU

— CoinPost (virtual currency media) (@coin_post) December 21, 2023

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