Bitcoin (BTC) is still trading in a narrow range, with support at $37,500 and initial resistance at $43,000.

Over the last week, momentum signals have diminished, which usually indicates a period of flat to negative market activity. For the time being, purchasers have maintained prices anchored around the $40,000 price level, despite the fact that they have been unable to firmly break over the $46,710 resistance level during the last three months.

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A negative reading on weekly momentum indicators should be kept an eye on, as it might signal a price breakdown.

Still, according to the DeMARK indicators, BTC is a few days away from reporting a positive countertrend signal, which might postpone the creation of an intermediate-term decline.

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Similar to stocks, the present price movement resembles what transpired in 2018 and 2019, which was a protracted period of tumultuous trading and generally poor returns. The bitcoin price range at the time was about $6,000 to $9,000.

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Bitcoin fear and greed index on Friday, April 29, 2022, went from the extreme fear level of 24 to the level of 23 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 at $39,466.18, up 0.29%. In the last 24 hours, the highest it touched was $40,269.47 and the lowest was $38,941.42. Bitcoin has a current market cap of $751,273,429,699. It has a circulating supply of 19,025,218.00 BTC coins and a maximum supply of 21,000,000 coins.

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Goldman Sachs makes its first loan backed by bitcoin

Goldman Sachs (GS) has offered its first bitcoin-backed loan in the latest sign that Wall Street is moving further into crypto. Bloomberg first reported on the news. Goldman’s secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. “We recently extended a secured lending facility where we lent fiat collateralized on BTC; BTC being owned by the borrower,” a Goldman spokeswoman told CoinDesk in an email. “The interesting piece for us was the structure and the 24-7-365 day risk management.” Goldman, which has a dedicated digital assets team, traded its first over-the-counter bitcoin options to Galaxy Digital last month.

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Telegram users may now make and receive cryptocurrency payments

The TON Foundation, a decentralized layer-1 blockchain designed by Telegram, has added a new crypto payments feature to the messaging app, the organization announced on April 26. The feature allows users to send Toncoin, the organization’s cryptocurrency, to other Telegram users without any transaction fees. “With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations,” the Foundation said in a tweet announcing the feature. The feature is similar to the Bitcoin payments function that Elon Musk’s Twitter has been offering through its Tip Jar feature since September last year. Twitter, however, uses the Stripe platform for such payments.