Bitcoin (BTC) is seeking to continue its recovery by breaking over the psychological level of $50,000, although numerous prominent analysts predict that BTC will stay range-bound for several weeks or even months.

On-chain analytics firm CryptoQuant said that Bitcoin “whales are still depositing BTC to exchanges.” This simply indicates that whales are setting themselves up to react at short notice depending on which path the price elects to take. Some believe the current fall looks similar to the March 2020 crash.

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Bitcoin fell below the uptrend line and psychological support level of $50,000, potentially resulting in panic selling by traders. Although bulls eagerly purchased the dip, they are finding it tough to drive the price over $50,000.

Bitcoin fear and greed index on Friday, December 10, 2021, went from the fear level of 29 to the level of 24 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 around $47,823.33, down 3.48%. In the last 24 hours, the highest it touched was $50,198.30 and the lowest was $47,358.35. Bitcoin has a current market cap of $904,149,255,818. It has a circulating supply of 18,896,812.00 BTC coins and a maximum supply of 21,000,000 coins.

Polygon acquires Predictable Labs for $500 Million

Polygon officially announced the acquisition of Predictable Labs, a startup business, for a whopping $500 million. The current decision is part of the company’s overall aim to increase the capacity of the Ethereum network and pave the path for wider adoption. Although Ethereum continues to lead the industry in terms of network usage, its hefty gas fee has deterred new market participants. Predicate Labs is the creator of the Mir blockchain system, which uses zero-knowledge roll-ups to offload data from Ethereum in order to speed up transaction processing and cut costs. The acquisition is part of Polygon’s $1 billion Ethereum drive and will add to the Ethereum Layer-2 solution’s key acquisitions.

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BitPay adds Shiba Inu (SHIB) Retail Payments support, Cardano Founder questions the poll

BitPay, a prominent cryptocurrency payment and exchange provider, has announced retail support for Shiba Inu (SHIB) transactions. This would allow SHIB holders to pay for daily necessities at thousands of BitPay retailers. SHIB has experienced widespread adoption in recent months, from popular crypto exchanges to retail behemoths. The recent BitPay retail integration for SHIB, on the other hand, has not gone down well with Cardano founder Charles Hoskinson. Hoskinson turned to Twitter to question BitPay’s recent statement and SHIB integration, citing a poll launched by the cryptocurrency exchange business in November. Hoskinson stated that the survey had no meaning and was only a publicity stunt.

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Meta owned WhatsApp to allow crypto payments through Novi wallet in U.S.

WhatsApp, owned by Meta, is testing cryptocurrency payments for a limited percentage of users in the United States using the company’s Novi digital wallet. According to The Verge, the functionality is only being handed out to a limited number of users, and the statement was verified by WhatsApp CEO Will Cathcart. Novi is Meta’s own digital wallet, which launched in October this year in the United States and Guatemala, though the WhatsApp crypto payment function is only available in the United States. It will let users send and receive money “instantly, securely, and without fees,” and it will rely on the Paxos stablecoin.