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FameEX Morning Crypto News Recap | January 29, 2024

2024-01-29 12:06:16

SEC's Cryptocurrency Regulation Hit Record Levels in 2023

In 2023, the U.S. Securities and Exchange Commission (SEC) significantly ramped up its cryptocurrency enforcement, exceeding the previous year's actions by over 50%, as highlighted in a recent report. The SEC has prioritized digital-asset market regulation, initiating 46 enforcement actions against diverse participants in the cryptocurrency sector.


Deutsche Bank Survey Finds Over 35% of Participants Anticipate Bitcoin Dropping Below $20,000

A Deutsche Bank survey involving 2,000 participants found that more than a third expect Bitcoin to fall below $20,000. Additionally, approximately 15% of respondents foresee Bitcoin's price stabilizing between $40,000 and $75,000 by year's end, reflecting varied predictions about the cryptocurrency's market trajectory in the near future.


Bitcoin Hashrate Recovers After January Decrease, Miners Anticipate Impending Difficulty Change

Bitcoin's overall hashrate experienced significant fluctuations, particularly a sharp decline in mid-January, largely due to extreme cold weather in Texas that caused miners to halt operations. As of January 21, 2024, the hashrate's seven-day simple moving average dropped below 500 exahashes per second (EH/s), reaching a yearly low of 482 EH/s. Since then, the hashrate has recovered, registering a 10.99% increase to 535 EH/s.


Market Analyst Gareth Soloway Predicts $15K Bitcoin if Stock Market Declines

Gareth Soloway, the Chief Market Strategist at verifiedinvesting.com, in a recent interview, hinted that Bitcoin's price could fall to around $15,000 if there is a substantial sell-off in the stock market. This suggestion by Soloway highlights a potential correlation between Bitcoin's value and broader stock market trends.


2024 Experiences Sharpest Weekly Decline in NFT Sales Across Five Major Blockchains, Recording Double-Digit Losses

During the week of January 20-27, 2024, the sales volume of non-fungible tokens (NFTs) significantly dropped by 21.25% compared to the previous week. The two primary blockchains for NFT sales, Ethereum and Bitcoin, saw major declines in their sales volumes, falling by 28.78% and 12.62% respectively, indicating a pronounced slump in the NFT market.


Bitcoin Settles Above $42,000 While Crypto Fear and Greed Index Moves to Neutral Zone

The Crypto Fear and Greed Index, which previously oscillated between "greed" and "extreme greed," entered a "neutral" stage on January 28, 2024. This change aligned with a modest increase in Bitcoin's price, exceeding $42,000. Over the past week, Bitcoin saw a slight increase of around 1.5% relative to the U.S. dollar, reflecting a more stabilized market sentiment.


Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.


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