Bitcoin fluctuated around $42,000 in the European morning. Analysts set $43,000 as key indicator For spikes above $50,000. 10x Research founder Marcus Thielen, who predicted BTC to fall to $38,000, said in a note to clients that “traders should re-enter long positions if Bitcoin rises above $43,000.” said. According to him, Bitcoin has been in a five-wave bullish pattern since the beginning of 2023, and the recent decline constitutes the fourth wave. The fifth wave has begun and prices could rise by $50,000. This bullish outlook coincides with a decline in selling pressure from investors profiting from the Grayscale Bitcoin Trust (GBTC) crypto investment vehicle. After the launch of the US-based spot ETF on January 11th, Bitcoin fell into a fourth wave of correction, partly due to profit-taking.
The Hong Kong Securities and Futures Commission First Bitcoin ETF application accepted. According to Tencent News, the applicant is Harvest Global Investments, a Chinese asset management company. Hong Kong regulators say they are willing to consider a spot crypto ETF application in December, just two weeks before the U.S. Securities and Exchange Commission approves a Bitcoin ETF Hong Kong’s Venture Smart Financial Holdings Ltd. We have applied for a Bitcoin ETF, which we announced earlier this month as a spot application, and hope to begin trading during the first quarter. Venture and Harvest are also in talks with Hong Kong’s central bank about a sandbox plan for stablecoin development in the region, according to Bloomberg.
Solana-based trading aggregator Jupiter More than $500 million in trades have been settled in the past 24 hours ahead of Wednesday’s scheduled token issuance.overtaking Uniswap v3 and becoming the largest trading platform in that indicator. According to CoinGecko data, Jupiter has 550 tokens and over 5,550 trading pairs listed. The USDC/SOL pair was the most active, with a volume of $166 million. Meanwhile, the Wen (WEN) meme coin launched by Jupiter developers last week recorded a trading volume of approximately $150 million across two trading pairs. Jupiter’s JUP token is scheduled to be launched on Wednesday. Almost 1 million Solana wallets were part of this unusually large airdrop. This is his 40% of his total supply of JUP, a size that reflects his Jupiter’s popularity among traders.