Bitcoin It is stable on December 13 after gaining bullish momentum above the $17,000 level during the Asian session. Similarly, Ethereum has followed suit, gaining control above $1,272 as investors await US CPI data, scheduled for 13:30 GMT.
global crypto market cap It gained 0.27% to $848.96 billion over the past day as the leading cryptocurrency traded in the green early on December 13. The total crypto market volume has increased by 29.04% to $35.10 billion in the last 24 hours.
The total DeFi volume currently stands at $2.13 billion, which is 6.06% of the total crypto market 24-hour volume. The total volume of all stable coins is now $33.82 billion, which is 96.35% of the total 24-hour volume of the crypto market.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Market Braces for US CPI Today
The November inflation data, the last important economic news before the Fed meeting, is expected to show an easing of price pressures. Indicators point to a 0.3% increase over the previous month, which is slightly slower than the 0.4% growth seen in October.
On an annual basis, inflation is expected to fall to 7.7% to 7.3%. More work needs to be done to bring down inflation, but for now the trend is positive.
BTC Advanced Functionality: Smart Contracts
The DFINITY Foundation created the Internet Computer (IC), the first public blockchain designed for the Internet. The IC mainnet has announced its integration with Bitcoin, providing state-of-the-art smart contract capabilities on the world’s most popular cryptocurrency.
It is possible that Internet computers will soon serve as layer 2 of bitcoin, enabling smart contracts to store, send, and receive bitcoin directly without any blockchain bridges. It provides a solid foundation for developing bitcoin-based DeFi and Web3 applications.
Threshold ECDSA bridges, a more secure alternative to centralized bridges, are available via bitcoin integration (Elliptic Curve Digital Signature Algorithm) of Internet computers.
Through improvements to ECDSA, Internet computer canister smart contracts can perform bitcoin transactions directly without the need for an intermediary or bridge. This paves the way for reliable support of bitcoin-based DeFi apps and makes it possible for IC developers to build bitcoin code in their native language. BTC/USD benefited from the announcement of consolidation as the price moved up.
bitcoin price
current price of bitcoin $17,179, and a 24-hour trading volume of $17 billion. The BTC/USD pair has gained about 1.3% over the past 24 hours, while coinmarket cap Currently ranked #1 with a live market cap of $360 billion, up from $325 billion yesterday.
On the technical front, bitcoin gained strong momentum above the key $19,900 support. Bitcoin is trading in a bullish channel on the 4-hour time frame, which is likely to take support near $16,900.
A key resistance for bitcoin remains at $17,350, and a bullish crossover above this level could expose BTC to $17,760.
Investors should watch for a buy position above the $17,350 level today as the MACD and RSI indicators are showing a buying trend.
On the other hand, a bearish breakout of the $16,900 level could expose BTC towards the $16,700 level. Beneath, the next support for bitcoin is likely near the $16,350 and $16,000 levels.
ethereum price
of ethereum The current price is $1,271, with a 24-hour trading volume of $4 Billion. Over the past 24 hours, Ethereum is up nearly 2%, and is currently ranked second on CoinMarketCap with a live market cap of $155 billion.
on the 4 hour chart, Ethereum There was a break above the 50-day simple moving average, which was facing resistance at $1,260. This level is now acting as a support. The bullish bias is indicated by the 50-day moving average, RSI and MACD indicators.
On the upside, Ethereum’s immediate resistance remains at $1,300, and a bullish crossover above this psychological trading level could expose ETH to the $1,345 area.
Alternatively, a break below $1,260 could expose ETH towards the $1,220 level.
Dash 2 Trade (D2T) – Final Stage of the Presale
dash 2 business Is an Ethereum-based trading intelligence platform that provides real-time analytics and social trading data to help investors make better trading decisions. It will go live in early 2023, and its D2T token will be used to pay for platform subscription costs on a monthly basis.
The Dash 2 Trade presale, which is now in its fourth and final phase, has already raised over $9.6 million. It also announced listings on Uniswap, BitMart and LBANK exchanges early next year, meaning early investors will soon be able to lock in some profits.
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