Crypto news daily: Bitcoin data and price analysis for January 25, 2022

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 $36,055.18, representing a 2.58% intraday gain. The coin price is now bouncing around the 0.5 Fibonacci level and the psychological support level of $35,000. 

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.

Bitcoin fear and greed index on Tuesday, January 25, 2022, went from the extreme fear level of 13 to the level of 12 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

Bitcoin is currently trading around $36,074.17, up 2.65%. In the last 24 hours, the highest it touched was $37,247.52 and the lowest was $33,184.06. Bitcoin has a current market cap of $683,024,903,138. It has a circulating supply of 18,939,225.00 BTC coins and a maximum supply of 21,000,000 coins.

‘Legal Action Will Be Taken,’ Trump Family says after discovering TrumpCoin

A meme coin called TrumpCoin has caught the attention of members of the Trump family—and they are not amused. Donald Trump’s son, Eric Trump, today tweeted that TrumpCoin has nothing to do with the Trump family, is not authorized, and “legal action” will be taken. On its website, the TrumpCoin FAQ says it launched on February 20, 2016, to honour former President Donald Trump. It also calls itself the “#1 Patriot Cryptocurrency” on its Twitter account. The current market capitalization of TrumpCoin is around $1.5 million with a circulating supply of a little more than 6.6 million coins, according to data from CoinMarketCap. The coin currently has almost no trading volume, though it did spike by more than 350% today, likely as a result of Eric Trump’s tweet.

In China, BSN launches an NFT Infrastructure Platform

The Blockchain-Based Service Network (BSN), China’s state-sanctioned blockchain infrastructure project, said it is releasing its platform for non-fungible tokens (NFT) in the country today. The BSN-Distributed Digital Certificate (BSN-DDC) network is a structure for building NFTs that is compliant with Chinese regulations, the organization said in a press release. Authorities in China discourage public networks like Ethereum that are commonly used in the NFT ecosystem.  BSN is making 10 Open Permissioned Blockchains available on the BSN-DDC. These are relocalized versions of their permissionless counterparts that set restrictions on who can participate in network governance and use fiat currency for payment. DDCs are the same as NFTs but are renamed to emphasize their uses for certification. Five of the 10 chains were named: Ethereum-based Wuhan Chain, Wenchang Chain powered by Cosmos-based IRISnet, Corda-based Zunyi Chain, EOS-based Zhongyi Chain, and FISCO BCOS-based Tai’an Chain.

Argentina’s National Soccer Team, Professional League will be sponsored by Binance

Binance will become the main sponsor of Argentina’s powerhouse national soccer team and the naming sponsor of its national soccer league for five years, the crypto exchange announced on Monday. The company said that it had signed an agreement with the Argentine Football Association (AFA), the governing body of Argentine soccer. It is the first deal Binance has closed with a national soccer team worldwide, the company said Monday in a statement. Argentina is a two-time world champion and boasts arguably soccer’s best player, Lionel Messi, and one of its most passionate fan bases. According to Binance, the deal includes the development of a fan token that will be released to the market “shortly.” “Through this agreement, we hope to support Argentine soccer at all levels and raise awareness of Binance, the crypto world and blockchain to soccer fans across the country and the world,” Maximiliano Hinz, director of Binance Latin America, said in a statement.