The crypto market’s continuing sell-off has wiped off more than $1 trillion in value. The BTC price has also fallen below the $40000 support level, predicting more declines in the next session. BTC is presently trading at $37,969.16, representing a 2.56% intraday gain. The coin price is now bouncing around the 0.5 Fibonacci level and the psychological support level of $35,000. 

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If the price breaks through this support level, the next critical support level for Bitcoin will be the $30000 accumulation support in May-June 2021. In the event of a bullish reversal, the coin price must first cross the falling trendline before it can begin a full rise. 

Resistance levels to watch out for are $40000 and $45,000 while Support levels are $35,000 and $30,000.

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Bitcoin fear and greed index on Friday, February 4, 2022, went from the extreme fear level of 19 to the level of 20 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading around $37,969.16, up 2.56%. In the last 24 hours, the highest it touched was $37,994.28 and the lowest was $36,375.54. Bitcoin has a current market cap of $720,042,650,821. It has a circulating supply of 18,948,431.00 BTC coins and a maximum supply of 21,000,000 coins.

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Tezos wins a $27 million contract with Manchester United

Manchester United, one of the world’s most popular soccer (or football) teams is reportedly set to announce a multi-year training kit sponsorship by Proof-of-Stake blockchain platform, Tezos. First reported by The Athletic, the deal is apparently in excess of $27 million per year, allowing Tezos to place its logo on the team’s training uniform. Manchester United have reportedly finalized filming promotional material ahead of the official announcement. The report also speculates that the partnership may involve collaboration in the technology space, such as a Metaverse or other Web3 projects. Tezos has made heavy investments in sports sponsorships. In May 2021, RedBull racing announced Tezos as its official blockchain partner. Tezos to build its first NFT fan experience which was launched in November later that year.

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Japanese government is considering loosening strict coin listing regulations

The Japanese government is considering a proposal to make it easier for registered crypto exchanges to list digital assets in the local retail trading market. Sources quoted in Bloomberg said that if the new rules are passed, exchanges that have registered with the Financial Services Agency (FSA) would be able to list certain assets without performing a lengthy screening process. Digital assets that have been listed for more than six months on at least three domestic exchanges would be exempted from additional screening. For example, exchanges would find it easier to list Bitcoin (BTC) and Ether (ETH) if the proposal passes. There has not yet been a final decision on the rule change.