Buyers of Bitcoin (BTC) held support at $40,000 as oversold signals showed on the charts. The current rebound indicates that the cryptocurrency is beginning to recover following a near-30% drop from its all-time high of over $69,000 in November.

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The four-hour chart’s relative strength index (RSI) is reaching overbought levels, similar to what happened in late December, which preceded a temporary drop. The RSI on the daily chart, on the other hand, continues to increase from oversold levels, suggesting that buyers may be active on price declines.

Nonetheless, given the short-term downturn, the upside looks to be restricted to the $45,000-$48,000 resistance zone. Furthermore, momentum indications on weekly and monthly charts remain negative, suggesting that price increases may be limited for the time being.

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Bitcoin fear and greed index on Monday, January 17, 2022, went from the extreme fear level of 21 to the level of 22 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 $42,778.36, down 0.89%. In the last 24 hours, the highest it touched was $43,436.81 and the lowest was$42,460.70. Bitcoin has a current market cap of $809,796,905,455. It has a circulating supply of 18,931,837.00 BTC coins and a maximum supply of 21,000,000 coins.

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Australian Football League struck a $25 million contract with Crypto.com

Australia Football League (AFL) has secured a partnership with Crypto.com to back its women’s league (AFLW). The deal is worth close to $25 million over the next five years, a marked increase from the AFL’s existing $18.5 million sponsorship contract with Toyota. Crypto.com is a Singapore-based crypto exchange offering digital wallets and crypto-backed debit cards. The partnership will mark Crypto.com’s first time sponsoring an Australian sports team. It will also be its first time sponsoring an elite women’s sports competition worldwide, a milestone that AFL Executive General Manager Customer and Commercial Kylie Rogers said she’s “proud” to be part of.

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Uruguay has installed its first Bitcoin ATM: Reports

Uruguay has reportedly installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly encourage crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations. According to Ámbito, Uruguay’s first crypto ATM was installed in the coastal city of Punta del Este, a major tourist attraction in the region. Uruguay’s first Bitcoin ATM was developed and installed in partnership with two local crypto companies — URUBit and inBierto. The crypto ATM in Uruguay currently supports withdrawal and deposits of five cryptocurrencies, namely — BTC, Binance Coin (BNB), Binance USD (BUSD), Ferret Token (FRT) and Urubit (URUB). FRT and URUB are in-house cryptocurrencies managed and distributed by URUBit and inBierto respectively.

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According to LinkedIn, crypto-related job posts increased about 400% in 2021

Listing for jobs looking for candidates possessing domain knowledge and expertise in the area of cryptocurrency and blockchain surged 395% in 2021 in the United States, jumping over 5 times since 2020. On the other hand, job demand in the general technology sector grew by just 98%, shows a recent study by Linkedin. The job descriptions and titles majorly included terms such as bitcoin, ethereum, blockchain, and cryptocurrency, with San Francisco Bay area, Austin in Texas, New York City, Miami-Fort Lauderdale, and Denver emerging as the prime areas that offered the maximum crypto-related job postings in 2021.