Bitcoin Approaches Golden Cross while Shiba Inu Awaits Whale Rally; Tesla Reaffirms BTC Holdings – Latest Crypto News from U.Today
Bitcoin on Verge of Potential Golden Cross
According to recent market analysis, Bitcoin is nearing a significant technical formation known as a "golden cross." This pattern is often associated with bullish trends, potentially leading to a surge in prices.
Possible Price Outcomes
- Traders are optimistic about Bitcoin surpassing the $70,000 mark, with hopes for prices reaching $75,000 or higher.
- Experts caution against potential false breakouts, where prices may initially rise but subsequently fall.
- A brief price pullback might occur as profit-taking takes place, though market momentum could eventually support a price rally.
As of the latest data, Bitcoin is trading at approximately $67,940, reflecting a 0.44% increase over the past 24 hours.
Shiba Inu Shows Signs of Whale-Induced Rally
Recent trading data indicates a significant rise in large transactions of Shiba Inu, reflecting heightened interest from major holders or "whales."
Transaction Insights
- Transactions above $100,000 surged from 48 to 209 within the week, signaling a robust increase in investor activity.
- The total large transactions in the last 24 hours reached approximately $29.74 million, with 1.68 trillion SHIB moved across chains.
- The token's price saw a slight rebound of 0.44%, although it currently trades down by 0.76% at $0.00001769.
Tesla Confirms Ongoing Bitcoin Holdings
In a recent statement, Tesla addressed concerns regarding potential Bitcoin sell-offs, clarifying that it continues to hold its assets.
Market Reactions and Future Plans
- Tesla's stock experienced a notable surge of over 12% in premarket trading, following announcements of record profits amidst a challenging automotive landscape.
- The company is planning to introduce new vehicle offerings by the first half of 2025 and launch a ride-hailing service aimed at the public next year in California and Texas.
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