Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Finbold, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the news could cement the digital asset\u2019s path to the upside in the coming weeks. Bitcoin Remains Unfazed By Genesis Despite the dreaded news of a Genesis bankruptcy finally becoming a reality, the price of bitcoin has not reacted negatively. In fact, the digital asset has barely responded to the news at all and continues to trade around the $20,900 level. What this shows is that the news of the Genesis bankruptcy was already priced into the price of the asset. It is understandable given that the crypto lender had been considering filing for bankruptcy for quite some time and has been exploring its options. So it makes sense that the bias and fear that such news would carry has already been digested by participants in the space. Related Reading: Bitcoin Price: Investors Predict 12% Decline For BTC In Next Two Weeks For bitcoin, this suggests that the price of the digital asset is where it is supposed to be. Given that its current price level appears to be a fair price, then there is more support for the current bull rally. It also means that to trigger another downtrend for BTC, it would have to be a true market-disrupting event. A deep pullback from a market correction becomes even more unlikely with this news. This means that a fall below $20,000 could be farther away than the bears would like, putting the cryptocurrency in a position for more upside rather than decline. BTC sees upside despite Genesis bankruptcy filing | Source: BTCUSD on TradingView.com BTC Investors Look To Expiring Options On Friday, over $580 million in bitcoin options are expected to expire, and while this would normally be a cause for celebration for the bears, BTC\u2019s continued strong performance would make this a win for the bulls who stand to gain more from the market. Even though there are some who expect inflation to get worse, an example being JPMorgan Chase CEO Jamie Dimon, there is a slowdown for now, which has reduced the pressure on bitcoin and the general crypto market at this point. With the easing inflation, risk assets are seeing a better performance, increasing the chances of a price recovery rather than a decline from here. Related Reading: Bitcoin Might Fall Below $20,000 Before Bull Rally Resumes, Analyst Says Bitcoin\u2019s price is also sitting comfortably above its 50-day and 100-day moving averages. This at the very least solidifies bullish momentum for the digital asset for the mid-term. Additionally, there is ample support for BTC just above $20,500 which serves as a deterrent to bears in the meantime. If BTC holds through the weekend, then a solid move above $21,000 can be expected next week. The price of BTC is changing hands at $20,949 at the time of this writing. It is up 1% in the last 24 hours and seeing a significant upside of 10.34% in the last seven days, according to data from Coinmarketcap. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Finbold, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":516927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790,15593],"class_list":["post-516926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-genesis"],"acf":[],"yoast_head":"\n
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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bullish Indicator: Bitcoin Shakes Off Genesis Bankruptcy Filing","url":"http:\/\/uniquehot.com\/news\/bitcoin-shakes-off-genesis-bankruptcy\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-shakes-off-genesis-bankruptcy\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin-bullish.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin-bullish.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","btcusdt","genesis"],"dateCreated":"2023-01-20T17:00:51Z","datePublished":"2023-01-20T17:00:51Z","dateModified":"2024-06-11T08:07:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bullish Indicator: Bitcoin Shakes Off Genesis Bankruptcy Filing\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-shakes-off-genesis-bankruptcy\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-shakes-off-genesis-bankruptcy\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-bullish.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-bullish.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"genesis\"],\"dateCreated\":\"2023-01-20T17:00:51Z\",\"datePublished\":\"2023-01-20T17:00:51Z\",\"dateModified\":\"2024-06-11T08:07:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin-bullish.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516926"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=516926"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/516927"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=516926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=516926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=516926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}