we have came here to through more information on the statement that was made by Binance company saying that Bitcoin Finds Support At Around $22,000 please before you proceed do not forget that the information we got here is from other website blog
that is the information here about Bitcoin Finds Support At Around $22,000 in 2023 is not first hand information but you can do your research for more information that is if you think you are not okay with the information we share here
Below is the information we got in the binance website been today which is 9 of the month called march
Bitcoin Drops 7% Following Silvergate Crisis
- Bitcoin has experienced a 7% sell-off since March 2, following the Silvergate bank crisis – in which the financial institution witnessed a $1 billion loss.
- Despite the bearish sentiment Bitcoin has been able to discover support above the 23.6% Fibonacci retracement level at $22,266. Should selling pressure continue to increase, BTC would look for the next foothold at the swing low, at $21,346.
- BTCUSD could continue battling resistance at the 38.2% Fibonacci retracement at $22,834, then at
- the 50-day Simple Moving Average (SMA) at $22,949
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Healthy Network Adoption
- The number of new addresses for Bitcoin has been steadily increasing since the start of the year.
- Moreover, the 30 day monthly average of new addresses is above the yearly average underlining improving network fundamentals, and growing network utilization.
Back To “Neutral” Zone
- According to the Crypto Fear & Greed Index, which jumped from “Neutral” zone to “Greed” zone around February 16 has returned back to “Neutral”
- At around 48/100, the index has returned to its mid-January levels, obliterating signs of bullish sentiments
Open Interest Falls
- On Binance Futures, the BTCUSDT Open Interest closed the week on March 5 at about 6.76% lower than at the beginning of week on February 27.
Traders Are Optimistic
- On Binance Futures, the BTCUSDT Long/Short Ratio closed on Sunday, March 5 at 2.1 as 67.71% of all Binance Futures accounts with an open position in BTCUSDT are net long, while the other 32.29% are net short.
News Roundup
- India’s CBDC Update – India’s upcoming CBDC would be used as a substitute for cash in the country as it satisfies all the attributes of its physical form of legal tender.
- Shanghai Upgrade Pushed To April – The release of Shanghai hard fork expected to bring significant changes to the Ethereum blockchain has now been pushed to early April.
- NFT Trading Volume Hits $2B – NFT trading volumes reached $2 billion in February – the highest number since before the meteoric crash of Terra in May 2022.
- Surge In Ethereum Holdings – Ethereum addresses holding more than 1+ ETH has reached a new one-month high indicating growing accumulation of the cryptocurrency.
Highlights From This Week
New Symbol Zones
Binance Futures has added two new symbol zones: Dragon and ETH Upgrade on the platform.
New Listings
- USDⓈ-M Contracts – Binance Futures launched USDⓈ-M PERP perpetual contracts with up to 20X leverage.
Gain Insights From Our Latest Content
How to Visualize the Breakeven Price of Open Positions on Binance Futures (App)
On Binance Futures, the Breakeven Price of a position is the
price level at which the position would neither make nor lose profit.
Click here to find out how to visualize the Breakeven Price for your positions in USDⓈ-M or COIN-M Futures on the Binance App.
Bi-monthly Advanced Technical Report March 6
Catch market analysis including the impact of Silvergate
Bank crisis, supply of Ethereum on exchanges, and Bitcoin’s price
action in the latest issue of bi-monthly advanced technical report.
How to Optimize Futures Grid Trading Strategy on Binance Futures?
Binance Futures allows users to customize and configure grid
parameters, including the range of upper and lower limits and the
number of grids
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