The crypto market’s continuing sell-off has wiped off more than $1 trillion in value. The BTC price has also fallen below the $40000 support level, predicting more declines in the next session. BTC is presently trading at $35,987.43, representing a 4.84% intraday loss. The coin price is now bouncing around the 0.5 Fibonacci level and the psychological support level of $35,000.
If the price breaks through this support level, the next critical support level for Bitcoin will be the $30000 accumulation support in May-June 2021. In the event of a bullish reversal, the coin price must first cross the falling trendline before it can begin a full rise.
Resistance levels to watch out for are $40000 and $45,000 while Support levels are $35,000 and $30,000.
Bitcoin fear and greed index on Thursday, January 27, 2022, went from the extreme fear level of 23 to the level of 20 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 $35,987.27, down 4.47%. In the last 24 hours, the highest it touched was $38,825.41 and the lowest was $35,690.05. Bitcoin has a current market cap of $680,581,852,670. It has a circulating supply of 18,940,975.00 BTC coins and a maximum supply of 21,000,000 coins.
Tesla’s Bitcoin holdings remained unchanged in the fourth quarter
The value of Tesla’s bitcoin holdings at the end of the fourth quarter remained unchanged from the end of the previous quarter at $1.26 billion, the electric car maker said in its quarterly earnings report on Wednesday. Tesla did not buy or sell any bitcoin in the quarter, nor did it record any impairments to the value of its bitcoin holdings because the price of bitcoin was essentially flat from the end of the third quarter to the end of the fourth quarter. In the third quarter, Tesla also did not add to or reduce its bitcoin holdings but was required to report a $51 million impairment to reflect the decline in the price of the cryptocurrency. According to accounting rules for digital assets, if the price of an asset falls during a quarter, a company must report an impairment. But if the price increases, it is not reported as a gain on the balance sheet. Tesla announced in February it had purchased $1.5 billion worth of bitcoin. Later in Q1, the company trimmed its bitcoin position by 10%, a sale that boosted that quarter’s earnings by $272 million. Tesla didn’t buy or sell any bitcoin in the second quarter.
The Sandbox has announced a $50 million funding round for its startup accelerator program
The Sandbox announced its metaverse accelerator program that will push the development of the open metaverse by investing $50 million in startups. The Animoca Brands subsidiary is partnering with the venture accelerator firm Brinc to target 30 to 40 blockchain startups a year for the program. The Sandbox Metaverse Accelerator Program will allocate up to $250,000 in investment to each potential project and will give additional incentives to top-performing projects. The bonuses include The Sandbox (SAND) digital asset and LAND, digital real estate within The Sandbox’s metaverse. Apart from this, the best-performing startups will also have access to additional investment grants and high-profile mentors.