Bitcoin Price Prediction As BTC Lacks Signal On Chain; Today’s key trading level
The Bitcoin price prediction has not changed much throughout the Asian session today as BTC remains above the important support level of $16,550. Given the upbeat technical signs, the market is waiting for a critical chain signal before entering a typical bull market.
The market’s ongoing fears keep Bitcoin and other cryptocurrencies under pressure.
Sam Bankman-Fried waives the extradition contest
A former FTX executive Sam Bankman-Fried plans to appear in court in the Bahamas on Monday to withdraw his opposition to extradition to the United States, where he faces fraud charges. Riding the cryptocurrency bubble to turn FTX into one of the world’s largest exchanges, Bankman-Fried amassed a fortune estimated at over $20 billion.
The 30-year-old cryptocurrency magnate was indicted in federal court in Manhattan on Tuesday on charges that he stole billions of dollars from FTX clients and used the money to pay off debt, cover personal expenses and invest in his crypto hedge fund, Alameda. Research LLC.
If he agrees to extradition, he could face charges of wire fraud, money laundering and misappropriation of campaign funds in a US court.
Bankman-Fried will have to enter a plea and the judge will set bail at her first trial in Manhattan, according to Margulis-Ohnuma. That hearing should take place within 48 hours of Bankman’s arrival at Fried’s in the United States, the lawyer said, adding that it would likely happen much sooner.
Mazars pause to work with crypto firms, binance in danger?
Sam Bankman Fried’s fall from grace is complete, and his rival, Changpeng Zhao, founder of cryptocurrency exchange Binance, is under increasing scrutiny as a result.
Concerns were raised again on Friday when auditing firm Mazars Group suspended work for Binance and other cryptocurrency firms on reports that should show the companies maintain sufficient reserves to cover any potential increase in consumer withdrawals.
Zhao has often stated that Binance does not misuse customer funds as FTX allegedly did, and that his exchange can handle any number of withdrawals. Binance has been around longer than FTX, which means it has weathered previous “crypto winters”, like the 80% drop in Bitcoin’s value between December 2017 and December 2018.
In any case, there have been some challenging days.
In fact, it was probably the market’s lack of confidence in Mazar’s “proof-of-reserves” reports that caused the business to suspend all such work. This latest action by Mazars threatens to render an accounting picture that many already thought was opaque.
Binance’s market dominance in the wake of FTX’s collapse does not sit well in a sector that preaches decentralization, even for those who ostensibly support CZ and his exchange.
The recent fall in cryptocurrency prices in response to news of CZ’s company is adding fuel to the fire, causing a drop in Bitcoin and other leading altcoins. Let’s take a look at the technical side of the market.
Bitcoin price prediction
Bitcoin’s current price is $16,747, and its 24-hour trading volume is $11 billion. Bitcoin’s price has fallen almost 0.20% since yesterday.
The BTC/USD pair is projected to find immediate support near $16,560 on Sunday. BTC prices may jump to the 23.6% Fibonacci retracement level of $17,000 because the RSI and MACD indicators are in the oversold zone.
Further up, the BTC/USD pair will face new resistance at $17,250, a level stretched by the 38.2% Fibonacci retracement point and the 50-day simple moving average.
A break below $16,570, on the other hand, could expose BTC to $16,150.
Alternative coins with high profitability
A few coins are making news due to the current risk-off mentality in the cryptocurrency market.
Let’s take a look at them!
FightOut (FGHT) – Pre-launches
FightOut, a brand new move-to-earn (M2E) fitness app and fitness chain that aims to bring the fitness lifestyle to the web3, has started its pre-sale, and investors believe the initiative has the potential to revolutionize today’s web3 M2E landscape.
Existing M2E apps, such as StepN, simply measure steps and require expensive non-fungible token (NFT) purchases to join, but FightOut offers a more comprehensive approach to tracking and paying users for exercise and activity and requires no expensive purchasing.
FightOut’s FGHT tokens are currently available at 60.06 USDT for 1 USDT, and interested investors should act soon to secure their tokens, as the presale raised more than $2.86 million in just a few days.
The FightOut crypto ecosystem will be powered by the FGHT coin.
Visit FightOut Now
Dash 2 Trade (D2T) – Pre-sale enters final phase
Dash 2 Trade is a promising cryptocurrency trading platform to invest in. With its unique features, the upcoming analytical and social trading platform intends to take the crypto trading sector by storm. Trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy backtesting tool are among the features.
The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold to use the platform’s services. Dash 2 Trade is now running a token pre-sale at significantly reduced prices, with sales of just $10 million. Tokens can currently be purchased for $0.0533 per token and will be published on several centralized exchanges over the next month.
Visit Dash 2 Trade here
Calvaria (RIA) – last pre-sale phase now
A new game to earn fighting card crypto game, RIA, may become a reality. Calvaria’s mission is to increase crypto acceptability by building a bridge between the real world and cryptocurrency in the form of a fun and easy to play crypto game. Investors can view Calvaria’s RIA token presale.
With only 20% of tokens remaining, Calvaria has now raised $2.48 million and is nearing the end of its fundraising campaign.
Visit Calvaria now
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