💵 Binance US reactivates dollar transactions after 18 months of suspension !
Welcome to the Daily Tribune of Thursday, February 20, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today, it is Thursday, February 20, 2025 and as every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you should not miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Sunny ☀️
24h crypto recap! ⏱
🏦 Bitcoin: a strategic asset according to the Czech central bank !
The governor of the Czech National Bank (CNB), Aleš Michl, states that Bitcoin should be studied, not feared. He proposes the creation of a "test wallet" in BTC to analyze its potential utility for the central bank's reserves. If this initiative succeeds, the CNB could invest $7.3 billion in Bitcoin, thereby becoming the first European central bank to include BTC in its reserves. This announcement marks a turning point in the institutional recognition of Bitcoin and could influence other hesitant central banks. 🔗 Read the full article
📉 Bitcoin could drop to $77,000 without compromising its bullish cycle !
According to Ki Young Ju, CEO of CryptoQuant, a 30% correction of Bitcoin would not challenge the current bull run. He identifies three key support levels: $89,000 (average entry price of Bitcoin ETFs), $59,000 (trader break-even point on Binance) and $57,000 (cost of production for miners). The analyst believes that the April halving and increasing institutional adoption should maintain bullish momentum. Despite a possible correction in May, Bitcoin could resume its bullish trend in the last quarter of 2025. 🔗 Read the full article
🇺🇸 Binance US relaunches dollar transactions after 18 months of suspension !
Binance US reactivates USD deposits and withdrawals, after an 18-month suspension due to SEC litigation. This resumption marks a positive evolution in the American regulatory framework, as the platform had to reposition itself as an exclusively crypto exchange. Now under the leadership of Richard Teng, Binance highlights its regulatory compliance to restore the confidence of American investors. This decision could boost the crypto market in the United States by making access to cryptos smoother. 🔗 Read the full article
💰 Michael Saylor raises $2 billion to buy even more Bitcoin !
MicroStrategy, now renamed Strategy, issues 0% convertible bonds to raise $2 billion and bolster its Bitcoin treasury. With this financial model, the company borrows without paying interest and converts its debt into equity if Bitcoin rises. This strategy, albeit risky, has already allowed the accumulation of 478,740 BTC, or 2.3% of the total Bitcoin supply. With 12 US states holding Strategy stocks, the institutional adoption of this approach seems to be accelerating. 🔗 Read the full article
The crypto of the day: Story Protocol (IP)
Story Protocol is a Layer 1 blockchain specifically designed for the management and monetization of intellectual property (IP) in the age of artificial intelligence. It allows creators to register, tokenize, and monetize their works, whether it be art, music, or AI-generated content, by transforming them into programmable assets. This approach provides a decentralized infrastructure for the attribution, licensing, and commercialization of IP, promoting a more transparent and equitable creative economy.
The native token of Story Protocol, known by the symbol IP, is used for various functions within the ecosystem. It is used for paying transaction fees on the blockchain, registering and validating intellectual property assets, as well as participating in the governance of the network. IP holders can also use it to obtain commercial licenses on IP assets and participate in staking for the security and validation of the network.
Recent performances:
Current price: $3.24 (approximately €3.00)
24-hour change: +36.01 %
Market capitalization: $812.26 million
Ranking on CoinMarketCap: #86
Bitcoin on the brink of a turnaround: Rise to $109K or drop below $90K ?
Bitcoin is currently trading in a narrow range between $98,000 and $94,000, marking a prolonged consolidation phase after failing to exceed $100,000. Despite a bearish trend in the short term, bullish momentum remains dominant in the medium and long term. The market awaits a major catalyst to trigger a significant movement. Technical analysis shows that Bitcoin fluctuates around $96,000, close to its 50-day moving average and the annual VWAP, reinforcing the key support zone at $94,000.
Key levels to watch: a critical test for Bitcoin
Bullish scenario: If Bitcoin manages to stay above $94,000, a rise towards $100,335 is conceivable. A breach of this level would open the way towards $102,500, then $106,000 and potentially a return to the ATH of $109,354.
Bearish scenario: In case of a break below $94,000, Bitcoin could test $92,800, with critical support at $91,300. A drop below this threshold could lead to a retreat towards $89,000 or even $88,000, representing a correction of 8%.
The market awaiting an impulse
Open interest on BTC/USDT derivative contracts indicates a gradual exit from positions, reflecting a market on hold. Although sellers still dominate, the bearish pressure seems to be gradually easing. In the absence of major liquidations of buyers and sellers, volatility remains contained, but this balance should soon be broken.
Bitcoin is at a major technical turning point, with a growing probability of strong forthcoming volatility. A directional break could trigger a sharp movement, whether to new highs or towards a more pronounced correction. The market is now awaiting a clear signal to define the next trajectory of Bitcoin.
