Global #Bitcoin (BTC)

Since its launch in 2022, Lugano, Switzerland’s Plan ₿ initiative has transformed the city into a global leader for digital finance.

Investment bank Citi has begun coverage of Strategy (MSTR) with a Buy/High Risk rating and a $485 price target, positioning the stock as a highly leveraged play on the future price movements of Bitcoin (BTC).

Crypto markets have entered a sharp downturn, with Bitcoin (BTC), Ethereum (ETH), and XRP all experiencing significant drops. Bitcoin fell from nearly $120,000 to $113,411, a 5.6% decline from its recent high.

Over the past few weeks, Ethereum (ETH) has shown a strong correlation with Bitcoin (BTC), with both major cryptocurrencies moving in tandem.

Our strategy of overweighting Ethereum (ETH) and Solana (SOL) paid off early this week as altcoins led the market rally. However, as momentum began to slow, we defensively trimmed our exposure, rotating into Bitcoin (BTC) and increasing our cash position.

The cryptocurrency market is currently navigating a period of heightened volatility, with Bitcoin (BTC) dipping below the $118,000 USDT mark to trade at approximately $117,960.29.

In the ever-evolving world of cryptocurrencies, Cardano (ADA) has struggled to keep pace with Bitcoin (BTC) recently. Over the past week, ADA has managed a modest gain of just 0.4%, currently trading at $0.347.

Ether (ETH) has shown resilience, rising 2.5% in the past 24 hours to trade at approximately $2,434. A significant factor in this upward movement is the cryptocurrency's robust support at the 200-week simple moving average (SMA), currently positioned at $2,298.

As Bitcoin (BTC) and Ripple (XRP) break through key resistance levels, both cryptocurrencies are eyeing potential upward rallies. Meanwhile, Ethereum (ETH) is showing signs of recovery as it approaches a critical resistance point, suggesting that a significant price movement could be on the horizon.

In the past 24 hours, the cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 2.36%, from $2.11 trillion to $2.05 trillion.

Bitcoin (BTC) is trading at $57,500, reflecting a 1.5% drop in the past day and nearly a 10% decrease over the past week. Despite holding a market cap of $1.1 trillion and commanding a 54% market dominance, the largest cryptocurrency is experiencing significant volatility.

The cryptocurrency market has witnessed a curious shift in recent days. While Bitcoin (BTC) experienced a slight price decline, the total open interest on exchanges has dropped significantly.