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Glassnode Co-Founder Dubs $28k Bitcoin Level Crucial Amidst Surging Prices

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In the cryptocurrency world, swift and unexpected price movements can often leave investors in a state of awe. Glassnode’s co-founder, known as “Negentropic” on Twitter, recently highlighted a price level that’s sending ripples across the crypto space. Why is $28,000 for Bitcoin suddenly such a critical point of interest?

After Negentropic’s tweet caught the crypto community’s attention, BTC experienced an immediate and remarkable surge in value. Within just 30 minutes of the announcement, the leading cryptocurrency witnessed a sharp rise.

On the Binance BTC/USDT trading platform, which accounts for 8% of BTC’s 24-hour trading volume, Bitcoin’s price jumped from $27,880 to $30,000. That’s an impressive 7% increase in less time than it takes to grab a cup of coffee!

Critical Milestone: Bitcoin BTC’s Future Depends on $28k

The cryptocurrency market often dances to the tune played by Bitcoin, the pioneer of digital currencies. Negentropic’s mention of the $28,000 level isn’t just casual chatter; it’s a critical milestone that has captured the market’s attention.

The crypto sphere hinges on BTC’s ability to break through and consistently maintain a value above $28,000. As of today, while this pivotal milestone was momentarily touched in futures markets, the spot market price peaked at $27,980.

This slight discrepancy highlights the significance of the $28,000 level in the broader scheme of things. These price thresholds aren’t mere numbers on a chart; they symbolize investor sentiment and market dynamics.

As BTC approaches this level, traders and enthusiasts are closely monitoring its movements, as it could have far-reaching implications for the entire crypto ecosystem.

Bitcoin Fate: Is Inflation Holding Steady Despite Economic Predictions?

In another tweet, Negentropic also delved into the world of traditional finance. Despite the Federal Reserve’s aggressive rate strategy aimed at curbing inflation, the most recent Consumer Price Index (CPI) statistics, released last Friday, presented a different story.

Inflation numbers came in higher than expected, with an overall yearly increase of 3.7%, or 4.1%, excluding food and energy costs. This unexpected surge in inflation figures could spell trouble for risk assets as it implies that interest rates may either remain elevated or continue to rise.

Bitcoin, being classified as a risk asset, could be impacted by these developments. The cryptocurrency and Ethereum have underperformed on the upside, leading to a smaller beta on the downside.

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Bityard Launches Much-Awaited “Happy Friday” Program as LINK Becomes First Candidate

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The world of digital assets has been required to evolve and adapt multiple times to satiate the needs of the ever-changing market conditions. To ensure that the users were getting the best experience in the most hassle-free way, companies have tried their level best to elevate the playing field.

Bityard is the latest organization to step up its game with its native “Happy Friday” event with users eagerly waiting for it to commence. According to Bityard, the event was a way to give back to the community for their dedication and loyalty. 

Sources from within Bityard informed TWJ that the Happy Friday event was one of many in the company’s pipeline to strengthen the subscriber base. Bityard has garnered a large following since its inception mostly because of the multiple high-quality contract trading product launches. Holding on to these users and fans is of utmost priority to Bityard as suggested by the Happy Friday event. 

The Bityard announcement revealed that any Bityard member will be able to avail the benefits of the Happy Friday event. Bityard’s official statement touched on the roadmap for the event as well as the centerpiece of the day: zero transaction fees for the designated token. LINK/USDT was the chosen token that users could trade with no worries of any transaction fees being slapped on it. 

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Bityard added that the event would go on for all the upcoming Fridays until said otherwise. This was another way that users could make use of Bityard’s solid contract trading infrastructure. The announcement informed users to:

“Trade the chosen token every Friday to enjoy free transaction fee for that contract trade! We will announce different chosen token for the 0 transaction fee event every Friday. Stay tuned to keep up! Trade on Bityard for free to end your work day!”

Bityard has prided itself on being the platform that charges one of the lowest transaction fees and the Happy Friday event is only set to boost its reputation. This sort of innovation has been a staple to Bityard’s developments over the last couple of months with customers expecting the best services of the pile. 

The Happy Friday event was not the only ace up Bityard’s sleeve as the company also has plans to launch its copy trade feature next month. Bityard has said that the feature will allow users to integrate their trading patterns into the system, allowing them to focus on multiple trades simultaneously. The sheer number of updates that cater to the customer remains one of the reasons why Bityard is celebrated in the cryptocurrency ecosystem.