BTC Drops Below $30,000, Key Support at 20-Day EMA
On April 14, BTC hit $31,000, its highest price recorded since June 2022. However, the Bitcoin price reversed from that level, and it trades below $30,000 at the time of writing. This is a welcome drop for the bears, and they’ll try to pull the price down to the 20-day EMA.
At the moment, the $29,000 level (20-day EMA) seems to be a key support in the battle between the bulls and the bears. If the price rebounds from that level, it could indicate continuing positivity in the market and an added impetus for the bulls to take BTC higher.
If BTC breaks down, we could see a short-term correction to $27,800 or even $26,500.
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CRYPTO NEWS WEEKLY ROUNDUP:
The Shapella Hard Fork on Ethereum Goes Live
Ethereum has successfully executed the Shapella hard fork, enabling validators to withdraw their staked Ether from the Beacon Chain. The long-awaited upgrade took place on April 12 at 10:27 pm UTC, at epoch number 194,048.
EIP-4895 facilitated the staked Ether’s transfer from the Beacon Chain to the Ethereum Virtual Machine (EVM), enabling withdrawals.
Predominantly, withdrawals have been ranging from 2.8 to 3.2 ETH, implying that staking rewards are the primary focus at the moment. Data reveals that Huobi, a crypto exchange, holds the largest portion of withdrawable Ether at 30%, while PieDAO is second with 17.7%.
Glassnode estimates that less than 1% of the total staked Ether will be released within the first week. Ethereum’s Shapella hard fork represents a crucial step toward a fully operational PoS system. EIP-4844, an upgrade designed to enhance Ethereum’s rollup scalability, is expected to be released in the near future.
Twitter Set to Partner With eToro to Introduce Crypto and Stock Trading
Twitter is partnering with the global social trading platform eToro to bring crypto and stock trading directly to its users. The Cashtags feature, which currently provides real-time trading data from TradingView, will be enhanced by integrating eToro’s trading services. Users can access market charts, trade financial instruments, and further explore Cashtags by clicking the “view on eToro” tab.
This move comes as part of CEO Elon Musk’s vision to expand Twitter’s financial reach and transform it into a “super app.” By offering a seamless trading experience and improving Cashtags, Twitter aims to attract new audiences and strengthen its position in the global financial market.
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