U.Today – U.Today brings you the three most essential news stories from the last day.
on the verge of a potential golden cross, likely scenarios?
As seen on Bitcoin charts, the flagship cryptocurrency may soon form a golden cross, a significant technical pattern that often signals a bullish trend. If the golden cross is confirmed, there could be several scenarios for Bitcoin. Historically, this can lead to significant price increases, with investors hoping for a break above $70,000, possibly reaching $75,000 or more. However, some experts warn that such a crossover can mislead traders, leading to false breakouts that cause prices to rise quickly and then fall. Additionally, there may be a brief pullback as investors take profits, but the market may then regain momentum, potentially sending prices higher again. Bitcoin is currently changing hands at $67,940, up 0.44% in the last 24 hours, according to CoinMarketCap.
next in line for a whale-induced rally
According to the latest data, Shiba Inu showed an impressive 41% augment in the number of vast transactions in the last 24 hours, which saw a total of $29.74 million shuffled. Over the past week, the number of transactions worth $100,000 or more increased from 48 to 209. In terms of volume, vast transactions over the past 24 hours totaled 1.68 trillion SHIB moved across chains. Additionally, there has been significant growth, with transaction volume rising from a low of SHIB 925.75 billion to a high of SHIB 3.42 trillion over the past week. At the time of these trades, the SHIB index had rebounded slightly by 0.44% as whales appear to have helped to restart its price. Currently, however, according to CoinMarketCap, the token price has decreased by 0.76%, to USD 0.00001769.
Tesla (NASDAQ:) confirms it still owns Bitcoin
Leading electric car maker Tesla has addressed community speculation about potential selloffs, stating that it continues to hold its Bitcoin assets. This occurred after Arkham Intelligence recorded a series of transfers to unknown wallets, which were later explained as wallet rotation. After reporting better-than-expected earnings, Tesla shares rose more than 12% in pre-market trading, with Musk noting that the company had achieved record profits despite a challenging auto market. Additionally, Tesla is preparing to launch a novel vehicle offering in the first half of 2025 and has introduced an employee transportation service in San Francisco, which is expected to be available next year in California and Texas.
