Bitcoin news daily: Data and price analysis for December 22, 2021

The bearish crossover of Bitcoin’s 20-day and 200-day exponential moving averages suggests a dip toward $40,000-$42,000 in the near future. On the Bitcoin (BTC) daily chart, a technical sell signal is set to materialize.

A death cross, a market indication that happens when a short-term moving average falls below a long-term moving average, may occur in the BTC price. In this instance, Bitcoin’s 20-day exponential moving average (20-day EMA) will fall below its 200-day EMA (200-day EMA).

Also Read| Top 5 cryptocurrencies of the day: BTC up by 1%, BabyFB trends at no. 1

Given its track record of anticipating bear movements in advance, the signal may wind up alerting traders and investors to a potential selloff in the coming sessions. For example, the 20-200 bearish crossover that happened on May 30, 2021, had a role in collapsing the BTC price from $36,500 to $28,800 in the next 24 days.

Bitcoin has been correcting consecutively across the last four weeks and looks poised to close the ongoing weekly session in losses, as well, primarily with the Federal Reserve taking more aggressive action on inflation.

Also Read| Zee Entertainment share jumps 2% after merger with Sony gets board approval

In the last 30 days, the BTC price has fallen by nearly 17.50%, including a correction from its record high of $69,000 on Nov. 10. In doing so, the cryptocurrency briefly fell to $42,333, only to rebound sharply later, paring some losses.

Bitcoin fear and greed index on Wednesday, December 22, 2021, went from the fear level of 27 to the level of 45 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

Also Read| Crypto Fear and Greed Index on December 22, 2021

Bitcoin is currently trading around $49,209.70, up 1.43%. In the last 24 hours, the highest it touched was $49,544.80 and the lowest was $48,374.03. Bitcoin has a current market cap of $930,556,323,609. It has a circulating supply of 18,907,550.00 BTC coins and a maximum supply of 21,000,000 coins.

Under Armour enters Metaverse with Stephen Curry’s NFTs

Stephen Curry is collaborating with sports gear brand Under Armour on an NFT drop to commemorate his new record as the NBA’s all-time leading three-point shooter. To commemorate this historic shot, the collection will include 2,974 non-fungible tokens that are digital replicas of the Under Armour-made “Curry Flow 9” sneakers Curry was wearing when he broke NBA icon Ray Allen’s record on Dec. 14. With the release of its first NFT, Under Armour joins its two biggest competitors, Nike and Adidas, in the realm of digital collectibles. The Under Armour collection will be available on December 22 at 1 a.m. UTC. Each NFT will cost $333, with all revenues benefiting children’s sports charities.

Also Read| Sensex surges over 400 points while Nifty tops 16,900 in early trade

Bitcoin will replace the US dollar’, says ex-Twitter boss Jack Dorsey

Jack Dorsey, former Twitter CEO said on Tuesday that Bitcoin will replace the US dollar in a recent Twitter exchange with Grammy award-winning rapper Cardi B. Cardi B questioned on Twitter if cryptocurrency will eventually replace the US dollar, to which Dorsey answered, “Yes, Bitcoin will.” Cardi B’s Twitter exchange with the tech mogul about cryptocurrencies replacing the dollar elicited a flood of responses on the social networking site. Billy Markus, the co-founder of Dogecoin, shared a meme claiming that Dogecoin is more stable than the US dollar. While Bitcoin investor Dennis Porter stated that “such a conversation was actually inevitable.”

Also Read| Trending Stocks: Exide, Metro Brands, CSB, JSW and others in news today

Kraken acquires staking platform Staked

Kraken has acquired a non-custodial staking platform Staked to enable an alternative to its own custodial staking service, the crypto exchange said Tuesday. Kraken referred to the deal as “one of the largest crypto industry acquisitions to date” but did not disclose the amount paid. For context, Galaxy Digital acquired crypto custodian BitGo for about $1.2 billion in May. Stake’s non-custodial staking service enables users to earn yield from staking without giving up custody of their assets. This is a complement to the custodial staking service already offered by Kraken. The acquisition is Kraken’s fifth of 2021, a year which has seen its staking business grow by around 950% to nearly $16 billion, according to the company.