14 January 2024 21:41 | 3 min read
Options 101: The Beginner’s Guide
Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to 411% gains with options, and his proven “blueprint” for success. Get your free copy of Options 101: The Beginner’s Guide as soon as possible.
Major cryptocurrencies fell on Sunday following excitement over the approval of Bitcoin exchange-traded funds (ETFs) earlier this week.
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What Happened: Bitcoin rose to $46,000 earlier on Friday and rose to a two-year high of $49,000 on Thursday as Bitcoin ETFs began trading in the US. However, the rising prices were short-lived.
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The global cryptocurrency market capitalization now stands at $1.77 trillion, showing an increase of 1.24% in the last 24 hours.
Stocks ended the week on a positive note, with mixed performance among the major indices on the closing day. The S&P 500 rose 0.08% to 4,783.83. The tech-heavy Nasdaq Composite closed just above flat, rising 0.02% to settle at 14,972.76.
The US stock market will be closed for trading on Monday in observance of Martin Luther King Day.
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Analyst Notes: Cryptocurrency analyst Michael Van de Poppe said that the total market capitalization for crypto has reached the target of $1.8 trillion. “Time to stay calm on total market cap, Bitcoin to consolidate, and Altcoins to thrive. Any 20% dip is an opportunity to get in, in my opinion.”
According to pseudonymous analyst Crypto Tony, Bitcoin has reached the $47,000 mark, which he previously identified as a top due to resistance points. The analyst took profit on his long position at $47,000 and is currently watching the market for the next move. Crypto Tony set his stop loss at $41,000 for his long position.
Ethereum is poised to become the next cryptocurrency asset to be listed on a spot market ETF, according to an analysis by Lucas Outumuro of IntoTheBlock.
Outumuro notes that Ethereum has significantly outperformed Bitcoin over the past few days, especially following the false reports of approval for spot-based BTC ETFs. The head of research at the firm indicates that Ethereum’s sudden surge indicates that traders are anticipating the approval of Ethereum ETF applications in the spot market.
“Ether has outperformed Bitcoin by more than 10% since the initial mock approval of the spot ETF came out on Tuesday. With Blackrock and several other entities pending applications for Ethereum spot ETF applications, the market appears to have high odds grant that they will succeed.”
Photo courtesy: Unsplash.com
Read next: Jim Cramer advises against using Binance, prompts strong reactions from Twitter users
Options 101: The Beginner’s Guide
Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to 411% gains with options, and his proven “blueprint” for success. Get your free copy of Options 101: The Beginner’s Guide as soon as possible.
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While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
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