Bitcoin news daily: Data and price analysis for December 20, 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).

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.

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 Monday, December 20, 2021, went from the fear level of 29 to the level of 25 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 $46,536.98, down 2.48%. In the last 24 hours, the highest it touched was $48,089.66 and the lowest was $46,262.18. Bitcoin has a current market cap of $875,832,828,519. It has a circulating supply of 18,905,643.00 BTC coins and a maximum supply of 21,000,000 coins.

The co-founder of Reddit and Polygon have launched a $200 million Web 3.0 social media endeavor

On Friday, Polygon and Alexis Ohanian’s venture capital firm, Seven Seven Six, announced a $200 million initiative backing projects operating at the intersection of social media and Web 3.0. The initiative will focus on gaming applications and social media platforms built on Polygon’s infrastructure. 

Saylor of MicroStrategy outlines how the firm may generate yield from its massive Bitcoin holdings

MicroStrategy (MSTR) officials outlined some potential ways the company could generate a yield from its enormous holdings of bitcoin during a virtual investor day Thursday. MicroStrategy, which makes business analytics software but whose market cap largely reflects its bitcoin holdings, owned 122,478 bitcoin as of Dec. 10, according to the company’s presentation. Those bitcoins were purchased since the third quarter of last year for roughly $3.7 billion in total, and are now worth roughly $5.8 billion. To generate income from its bitcoin, MicroStrategy could lend some portion of it to a “trustworthy counterparty,” CEO Michael Saylor said.

Adidas’s first Ethereum NFT drop gets $23 million and rockets to the top of the charts

Adidas made $23.4 million in a single afternoon from its debut “Into the Metaverse” NFT drop last week.  The collection’s phenomenal sales volume over the last 24 hours propelled it to the very top of the leaderboard as the hottest NFT project in the world right now, according to CryptoSlam. The drop was a collaboration with Bored Ape Yacht Club (BAYC, itself currently the seventh biggest collection by sales volume), PUNKS Comic NFT creator Pixel Vault, and private NFT collector gmoney. There were a total of 30,000 Adidas Originals NFTs up for grabs, minted on the Ethereum blockchain, with 20,000 of them first offered to holders of Pixel Vault NFTs, Bored Ape or Mutant Ape NFTs, and holders of gmoney or Adidas Originals POAPs, Ethereum-based proof of attendance badges.