BTC/USD oscillates around $39,00 in mid-Thursday trade, after falling for a few weeks. The pair was in the process of testing $38,000 support at the time of writing. Despite the “out of hours” trading environment, the trend was clearly down for the largest cryptocurrency, as the mood on global equities wobbled among analysts.
As the consolidation between $36K and $45K levels continues, Bitcoin’s price has been able to establish support in the $36-37K zone yet again. Given the present bullish momentum, a retest of the 100-day moving average (around $43.7K) and, finally, the $45K resistance zone appears to be near.
The latter has proven to be a strong supply zone, rejecting the price many times in recent weeks. If this level is ultimately broken, the next objective is expected to be the 200-day moving average ($49K), which is one of the most important indications for determining whether the market is bullish or bearish.
Bitcoin fear and greed index on Thursday, March 10, 2022, went from the extreme fear level of 22 to the fear level of 28 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 $39,260.37, down 6.63%. In the last 24 hours, the highest it touched was $42,465.67 and the lowest was $38,965.26. Bitcoin has a current market cap of $744,944,336,913. It has a circulating supply of 18,979,218.00 BTC coins and a maximum supply of 21,000,000 coins.
Binance reveals plans for global dominance by acquiring firms in every sector
Binance is looking to diversify its business interests by acquiring companies outside the scope of cryptocurrency, according to a report from the Financial Times. “We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto,” said Binance CEO Changpeng Zhao, affectionately known to his 5.3 million Twitter followers as CZ. Already holding the title of the world’s largest crypto exchange, Binance is aiming to bring in companies from traditional markets in an attempt to further increase broad-scale crypto adoption and diversify its own business. In the interview, Zhao went on to say that nudging traditional companies to embrace crypto will put pressure on the slow-movers and increase overall market competition. This announcement comes not long after Binance’s monumental $200 million investment in publisher Forbes in early Feb, solidifying Binance as one of the two largest owners of the media company.
Former WB Gaming Executive hired by FTX to Lead Gaming Partnerships
FTX announced today that it has hired former WB Games executive Steve Sadin to run its new gaming partnerships department. Sadin will be responsible for helping developers integrate digital assets into their games or launch tokens. FTX established the dedicated gaming unit in February. “We’re putting players first and creating open economies powered by the blockchain that grant players true asset ownership…We’re making it possible for developers to create in-game assets that players will pass down to their future grandchildren,” Sadin said in a press release. During his time at WB Games’ Boston studio, Sadin launched a number of hit free-to-play games and worked with well-known IP rights holders for franchises like Batman, WWE, and The Walking Dead.