Breaking: Estonia is not banning cryptocurrencies; finance minister clarifies rumors

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Altcoins dominance is breaking out of the bull pennant. Possible altseason scenario

Volumes on Ethereum-based NFT markets broke a four-month downward trend in December — link

Binance invests $12m in liquidity platform WOO Network — link

BTC rejected from the resistance line and again tested the support of $45,700 area. The good thing is BTC able to hold the support and bounced from there. Its been more than a month for sideways movement. The volume is slowly going down means we are near a breakout.

Yosuke Matsuda, the president of the famous Japanese game company Square Enix (Final Fantasy game series), said NFT together with Metaverse, cloud technology and cryptocurrency as the main trends in the game industry in his New Year letter. His remarks were criticized, but the company's stock price rose 8%.

Opensea raises $300m in Series C funding at a $13.3 billion valuation — link

Daily unique user count on Opensea hits an all-time-high.

$40k - $42k buy orders cluster is the last hope for #BTC bulls. Below that we got nothing until $30k level.

BNB broke the $500 support area and dumped hard. BNB is trying to hold the $460 support area. The major support is $430-$440 area. Now the first resistance for BNB is $500 and we will see bullish move only if BNB go above $500 area.

Bitcoin Dominance is now retesting the 40% area. Although BTC ruined the party. If BTC stable in a range now then we may see some small recovery in altcoins. If Dominance go above 40% then we ll see more dump in altcoins. Use stop loss in all your trades.

Perpetual futures open interest relative to Bitcoin's market cap is now at the highest it's been since July 25th — link

PayPal explores launch of their own stablecoin in crypto push — link | archive

TOTAL2 (Altcoin marketcap) unable to hold the $1.2 trillion support area and now taking support at the downtrend bottom line. The major support for TOTAL2 is $1 trillion area and this is must hold point. Altcoins need to show some strength near support area. Use stop loss in all open trades.

ADA breaks the support of $1.2 area and also retested it. ADA need to go above the $1.2 area to gain some upward movement. The next major support is near $1 area. Wait for a break above $1.2 area or a retest of $1 support area for new entries.

• Roughly $280 billion were wiped out of the total cryptocurrency market capitalization over the week.
• Most digital assets in the market dropped in tandem amid the sell-off. Some whales have taken advantage of the downtrend to buy cryptos at a discount, but retail interest has failed to pick up.
• A few technical indicators suggest that a rebound is coming. Still, it remains to be seen whether the incoming upswing would have the strength to generate enough FOMO in the market to push cryptos into a new uptrend.

• From a technical perspective, BTC’s upside potential looks capped as there are several layers of resistance ahead that might reject any attempts by the bulls to take over. Bitcoin would have to break through $52,000 to be able to resume its uptrend while closing below $41,000 could signal a downswing to $33,000.
• On Binance Futures, BTCUSDT Long/Short Ratio continues rising to hit a 2.98 ratio on Jan. 9th. Traders remain optimistic about Bitcoin’s future price action as 74.87% of all accounts are net-long.

Digital asset investment products saw outflows totalling a weekly record of $207m. This follows the outflows that began mid-December and the 4-week run now totals $465m — link

Bitcoin has highest correlation with equities since July 2020 — link

Jack Dorsey spearheads new fund to defend Bitcoin developers against legal action — link