Rose

@layagv98776

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Steno’s prediction is “partly based on the argument that Donald Trump’s U.S. presidential victory is more favorable for altcoins than for Bitcoin.”

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Bitcoin dominance measures BTC’s percentage of crypto’s total market capitalization.

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According to Judge James Mellor, Wright violated a court order when he filed additional lawsuits against Bitcoin developers. He faces 12 months in prison, suspended for two years, after the judge found five counts of contempt of court. Wright was also ordered to pay a fine worth roughly $180,000.

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Australian computer scientist Craig Wright, who for years lied about being Bitcoin inventor Satoshi Nakamoto, has been slapped with a one-year suspended sentence in the United Kingdom.

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The 20-day EMA ($6.28) has started to turn down, and the RSI is near the midpoint, suggesting that bears have a slight edge. If the price turns down from the 20-day EMA, the possibility of a break below the 50-day SMA ($5.64) increases.

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On the contrary, if the price fails to sustain above the 20-day EMA, it will suggest that the bears are selling on rallies. That increases the risk of a decline to the 50-day SMA ($36.15). Such a move will indicate that the breakout above $51 may have been a bull trap.

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From a technical perspective, Bitcoin has managed an immediate recovery above $95,000 after exhibiting a V-pattern from the local low at $90,742.

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The in/out of the money around price (IOMAP) chart below shows that the immediate support sits within the $92,777 to $95,634 price range, where about 490,570 wallets acquired some 441,250 BTC.

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At $95,672, BTC’s price sits on strong support on the downside compared to the resistance it faces in its recovery path, according to data from IntoTheBlock.

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If history repeats, Bitcoin price should benefit from whale accumulation to push it over the $100,000 psychological barrier.

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In October, Cointelegraph reported similar activity when Bitcoin whale holdings reached an all-time high of 670,000 BTC. This preceded Bitcoin’s rise from the $60,000 levels toward current all-time highs just under $100,000.

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In other words, other investors, such as day traders and retail, must also join the fray to push the price past $100,000.

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Nevertheless, “this spot buying volume is not yet sufficient enough to demonstrate a more widespread buy-the-dip pattern, remaining heavily concentrated among institutional players,” the analyst noted.

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In a Nov. 29 post on X, Caueconomy said that much of the $1.5 billion in Bitcoin was scooped up after almost $4 billion in BTC was sent to exchanges at a loss by short-term holders.

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“Bitcoin whales took advantage” of the crypto market correction earlier this week, accumulating 16,000 BTC, wrote CryptoQuant contributing analyst Caueconomy.

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Market participants have observed deliberate posturing by whales, with analysis suggesting they played an important role in the latest BTC price recovery.

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Bitcoin’s recent drop from the new all-time high of $99,655 reached on Nov. 22 to a weekly low of $90,742 on Nov. 26 may be attributed to a decrease in demand from the United States. That was evident by a sharp drop in the Coinbase Premium Index over that period.

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Bitcoin’s latest rebound from the Nov. 26 local low of $90,742 has seen it reclaim $95,000. The recovery has reached across the broader cryptocurrency market, with total market valuation rising 7.3% between Nov. 26 and 28 to $3.32 trillion.

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In June, OKX launched its exchange in the Netherlands, and in July, announced its intention to establish its EU regulatory hub in Malta, where OKX obtained its Class 4 Virtual Financial Assets (VFA) Service Provider license in 2021.

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“Existing policy frameworks, focused on centralized registration models, don’t align with decentralized systems,” he added.

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