The Crypto Express

🚨 CHINA'S MINING SHUTDOWN HIT BITCOIN HASHRATE Bitcoin network's hashrate dropped by ~100 EH/s yesterday, per WuBlockchain. Over 400,000 mining rigs reportedly went offline after mining farms in Xinjiang, China shut down.

JPMORGAN LAUNCHES FIRST TOKENIZED MONEY MARKET FUND ON ETHEREUM.

🚨 BREAKING: JAPAN TO START SELLING $500B+ IN ETFs Japan’s central bank plans to begin selling its ¥83 trillion ($534B) ETF holdings as soon as next month. The BOJ will sell slowly at about ¥330B per year to avoid market shocks, a process expected to stretch over 100 years.

#BTC/USDT ANALYSIS Bitcoin is rebounding from the support trendline of the symmetrical triangle pattern, while the 50MA is acting as a resistance barrier above the current price action. A solid breakout of the pattern would signal a bullish trend. Keep an eye on further price action developments.

#ALTS MARKET CAP ANALYSIS The ALTS market cap is trading above the support trendline of the ascending triangle pattern. Currently, it is facing resistance at the 50MA, which is acting as a barrier, while the 100MA is providing support. A breakout above the 50MA would signal a bullish trend, whereas a breakdown below the support trendline could lead to further correction in the altcoin market cap.

CRYPTO MARKET STILL FEARFUL The Crypto Fear and Greed Index has fallen back to 20, signaling persistent fear across the market.

#AXL/USDT ANALYSIS AXL is rebounding from the support trendline of the descending channel, while the 21MA is acting as a resistance barrier above the current price action. A decisive breakout above both the 21MA and the channel will provide a bullish confirmation.

#BTC/USDT ANALYSIS Bitcoin is consolidating within a symmetrical triangle pattern and is currently facing rejection from the resistance trendline. The 50MA is also acting as a resistance barrier above the current price action. A solid breakout or breakdown is required to confirm the next directional move.

#BTC DOMINANCE ANALYSIS BTC Dominance is consolidating within an ascending triangle pattern and is currently trading below the 50MA and 100MA, which are acting as resistance barriers. A confirmed breakout or breakdown is needed to determine the next directional move. It’s important to note that BTC Dominance often shares an inverse relationship with the altcoin market cap

The aggregated size of Bitcoin treasuries held by public and private companies has grown from 197K BTC to 1.08M BTC, a ~448% increase since January 2023. Corporate balance sheets are becoming an increasingly significant pillar of demand for BTC.

#LTC/USDT ANALYSIS LTC is consolidating within a falling wedge pattern and is currently trading below the resistance trendline. The Ichimoku Cloud is acting as a resistance barrier. A solid breakout of the pattern would signal a bullish trend, while a breakdown below the support trendline would invalidate the pattern.

#BTC/USDT ANALYSIS Bitcoin is strongly consolidating within a symmetrical triangle pattern and is currently holding above the support trendline. A decisive breakout or breakdown is needed to confirm the next directional move.

#S&P 500 ANALYSIS The S&P 500 is facing rejection from the major horizontal supply zone. Currently, it is trading above the 50MA, which is acting as a key support level. A rebound from the 50MA is possible; however, a confirmed breakdown below this level could trigger further downside. Keep an eye on upcoming price action developments. Given its close correlation with the crypto market, the S&P’s next move will be crucial in determining broader risk sentiment, making this a key level to monitor closely.

OCC conditionally approves Ripple National Trust Bank application.

Pyth launches token buyback program, allocating 33% of DAO treasury to monthly PYTH purchases.

#LPT/USDT BUY SETUP LPT is consolidating inside the descending triangle pattern and is currently trading within the horizontal demand zone. A bounce from this level is likely, and a breakout above the pattern will provide a strong bullish confirmation.

🚨ALERT: $4.6B BTC & ETH OPTIONS EXPIRES TODAY Nearly $4.5 BILLION in $BTC & $ETH options expire today at 8PM UTC. Thin year-end liquidity and macro uncertainty could amplify volatility.

#BTC/USDT ANALYSIS Bitcoin is rebounding from the support trendline of the ascending triangle pattern. The Ichimoku Cloud is acting as support, showing underlying strength. We now need to wait for a clear breakout or breakdown to confirm the next directional move.

JUST IN: 🇺🇸 CFTC announces it is withdrawing outdated guidance related to ‘virtual currencies.’