• Bitcoin has been in a strong upswing, but it has yet to break the $30K resistance level.
• The bulls have encountered significant resistance around the $30K psychological level.
• A divergence between the price and RSI indicator suggests a possible correction or consolidation phase.

Bitcoin Price Analysis

Bitcoin’s recent impulsive rally seems to have reached a temporary halt, with the price likely entering a correction or consolidation phase before continuing its uptrend. Significant resistance is located at the $30K mark, which has yet to be tested. Technical analysis shows that there are signs of decreasing bullish momentum and potential retesting of two major support levels at $25K and roughly between $24.4K – $23K if a correction occurs. A divergence between the price and RSI indicator further strengthens this possibility.

Daily Chart Overview

After forming a pullback to 61.8% Fibonacci retracement level at around $19.6K, Bitcoin initiated an impressive rally with its current high surpassing above $28K; however, the bulls failed to reach the significant resistance area of $30K which also acts as a psychological barrier for traders believing that once this resistance is broken, it will signal an end for the bear market cycle. Meanwhile, clear divergence can be identified between Bitcoin’s price and RSI indicator suggesting potential short-term correction or consolidation stage ahead.

4-Hour Chart Analysis

The 4-hour timeframe chart reveals more insights into Bitcoin’s impulsive bullish rally; however, recent price action indicates that bullish momentum has weakened leading to a possible short-term corrective or consolidative phase for Bitcoin’s price action. If this scenario plays out then two major support levels could come into play: firstly at around $25k followed by another support zone located roughly between 0.5 – 61.8 Fibonacci retracement levels at around $24.4k -$23k respectively; furthermore, divergence seen between Bitcoin’s price and RSI indicator further increases chances of such corrective move taking place soon enough..

Significance Of Breaking The Resistance Level

Breaking above the psychological resistance level of 30k could be key factor in signalling an end to bear market cycle; although technically speaking there are still other important resistances such as previous all time highs etc… yet breaking through 30k would be very symbolic in terms of allowing much higher prices over coming months (possibly even years).

Conclusion

Overall it appears that Bitcoin is temporarily stalled from moving higher as significant resistance exists at 30k accompanied by weakening bullish pressure exhibited via divergence pattern on both daily & 4 hour charts . Therefore next few days should reveal whether current corrective/consolidative move will take place or not followed by further upside movement towards 30k + region

FTX Leadership Uncovers $3.2 Billion Paid Out to Former Execs

Summary

• The new leadership of FTX has uncovered $3.2 billion worth of direct payments to former execs during the platform’s operation.
• This sum does not take into account salaries and other legitimate operational expenses, nor does it include luxury real estate purchases or political donations.
• The new leadership will attempt to recover as many of these missing funds as possible from the former company executives.

Background Information

The FTX Group’s balance sheets were poorly kept at best and deliberately fraudulent at worst, prompting the appointment of a new leadership team tasked with untangling them. This process led to the discovery of $3.2 billion worth of direct payments to former execs during the platform’s operation. The total amount did not include salaries and other legitimate operational expenses, over $240 million spent on luxury real estate in the Bahamas, or any political donations made by the FTX Group.

Recovering Missing Funds

• Amazon, the world’s largest e-commerce company, is reportedly preparing to enter the world of non-fungible tokens (NFT) with the launch of its own Marketplace, reportedly scheduled for April 24th.
• The new ‘Amazon NFT Marketplace’ or ‘Amazon Digital Marketplace’ will offer 15 NFT collections that will initially be available to customers in the United States.
• One of the most interesting features of this Marketplace is the option to link NFTs with physical goods delivered to the users’ doorsteps.

Amazon Plans To Launch Its Own NFT Marketplace

Amazon, one of the biggest e-commerce companies in the world, is planning on launching its own non-fungible token (NFT) marketplace on April 24th 2021. This new ‘Amazon NFT Marketplace’, or ‘Amazon Digital Marketplace’, will offer 15 different collections that are currently only available in the United States.

Unique Feature Of Linking Physical Goods With NFTs

The most interesting feature about this marketplace is that it allows users to purchase physical goods and link them with their purchased non-fungible tokens. This makes it easier for collectors as they no longer have to go through crypto complexities and can simply use their credit cards for making payments and receive their products at home just like a regular purchase.

Andy Jassy’s Statement On Selling NFTs

This new initiative from Amazon comes after CEO Andy Jassy said back in April 2022 that they were open to selling non-fungible tokens (NFTs) “in the distant future”. The reports of this interest started circulating around January 2021 which eventually led to this confirmed date by Yahoo Finance for launching this marketplace.

Competition With Other Platforms

With Amazon entering into this space, there is a possibility that it might be competing against existing platforms such as Blur and OpenSea – both are existing platforms which allow users to buy, sell and trade digital assets including artworks and collectibles in exchange for cryptocurrencies or fiat currencies .

Conclusion

The launch of Amazon’s own Non Fungible Tokens (NFT) marketplace could potentially simplify user experience when it comes to buying digital assets and make it easier for people who don’t understand crypto mechanics but would still like explore possibilities within this space.

• Stacks (STX) surged to above $1 for the first time since April of last year.
• Bitcoin (BTC) attempted to take down $25,000 but was unsuccessful and dropped as low as $22,800 over the weekend.
• BTC pumped to $23,800 on Monday and then initiated another leg up hours ago, hitting a high of $24,000.

Stacks Marks 10-Month Highs Above $1

Stacks (STX) have been climbing steadily with yet another double-digit surge that drove it to above $1 for the first time since April of last year.

Bitcoin Eyes $24K Again

Bitcoin (BTC) attempted to take down $25,000 but was unsuccessful and dropped as low as $22,800 over the weekend. However, bitcoin began to recover some ground at the start of the working week and pumped to $23,800 on Monday. Despite being stopped there and driven back down to $23,000 hours later, the cryptocurrency initiated another leg up hours ago which saw BTC skyrocket by around $1,000 and touch a high of $24K again.

Most Altcoins Turn Green

Most altcoins have also turned green today due in part to STX’s impressive gains in value.

US PCE Data Affects BTC Performance

The US Personal Consumption Expenditure data released on Friday affected bitcoin’s performance negatively which resulted in an 11-day low at under 22,800 during the weekend.

Conclusion

In conclusion, Stacks achieved an impressive milestone by marking 10-month highs above 1 Dollar while Bitcoin continues its rollercoaster ride between 23k – 24k USD range. Despite being affected by US PCE data last week which pushed it south hard; bitcoin has managed to recover some ground this week leading it back up towards 24K USD level once again