Price is pumping while funding is turning really negative.

Decent resistance above, if #BTC wants to continue the upside, it should pump back above $39500 this week. Otherwise this will become a strong horizontal resistance.

Russia's Putin seeks consensus in crypto regulation dispute — link

Despite the broader market downturn, NFT activity remains vibrant.

The number of unique wallets buying NFTs this month has doubled from just 5 months ago (380k now vs 190k in Aug 2021), showing that interest in the space is booming — link

Bitcoin is slowly moving up towards the resistance of the $38,750 area. We will see high volatility during the weekend. The break of this triangle will decide the next move. If the ascending triangle breaks in an upward direction then we see upward movement towards $40,000-$42,000 area. If the triangle breaks in downward direction then we see a move towards the $33,000-$34,000 support area.

Justin Bieber Buys a Bored Ape NFT for $1.3 Million (500 ETH) —link

At an annualized energy draw of 89 TWh the Bitcoin mining network uses approximately 0.05% of the total energy consumed globally, measured at 162,194 TWh — coinshares

SkyBridge Capital’s founder expects a $500k Bitcoin price in the next 5 years
Speaking in an interview with Kitco News, Anthony Scaramucci, the founder of SkyBridge Capital, stated that Bitcoin had the potential to reach a price of $500,000 within the next four to five years.
I ultimately think that Bitcoin will be worth half a million dollars, and it will take four to five years. The ride will be rocky, but it will certainly be worth it, he said.

Digital asset investment products saw inflows for a second week totalling $19m last week, while small, it continues to suggest investors are beginning to cautiously add to positions at these depressed price levels — link

House and Senate hearings on stablecoins will spotlight official behind Treasury report: sources — link

ADA is still ranging above the support area. We will see a breakout of this range soon. The major support is the $1.00 area and ADA needs to hold above this. Keep tight stop loss in ADA open positions. The resistance remains the same. The $1.00 is major support on daily and weekly charts and a break below this will start a new downtrend. Keep an eye on the support level.

GALA break the downtrend channel and also retested it. GALA is now taking support at the $0.18 area. The first resistance is $0.20-$0.21 area. If GALA break the support of $0.18 then the next local support is $0.16 area and major support is $0.145 area. Stop-loss is a must in every trade.

WORMHOLE PROTOCOL CONFIRMS IT WAS HACKED OF 120,000 ETH(~$320M), MAKING IT THE 2ND LARGEST DEFI HACK EVER

Whales had been distributing since September, but it seems that this week they are finally adding to their holdings — link

Japanese trading house Mitsui & Co. plans to issue cryptocurrency linked to gold prices — link

Arca has closed a $50m fund dedicated to investing in individual NFTs — link

India legalizes crypto, unveils 30% tax on sale of digital assets

India announced plans to begin taxing income from digital assets on Tuesday, while also setting out plans for the launch of its own digital currency.
The Indian government unveiled a tax of 30% on the sale of crypto assets in a move that brings more clarity to the regulatory and tax treatment of cryptocurrencies following months of uncertainty about their legal status in the country.

Google Trends worldwide search interest for ‘NFT’ has overtaken ‘crypto’, and is even starting to catch up to that of ‘bitcoin’.

Ferrari is looking to integrate NFTs, metaverse and Web3

Luxury car maker, Ferrari, has reiterated that it is giving Non-Fungible Tokens (NFTs), the metaverse, and blockchain technology serious consideration.
During the company’s Q4 2021 earning call, Benedetto Vigna, the CEO of Ferrari, assured investors that the carmaker is keen on adopting the new technology.
Ferrari recently signed a deal with Swiss blockchain company Velas Network that will see the start-up issue exclusive digital collectibles and sponsor Ferrari’s racing team.

Sen. Ted Cruz discloses a bitcoin purchase worth up to $50,000 — link