The Bitcoin price climbed 0.5% in the last 24 hours to trade at $42,765 as of 6:05 a.m. EST on trading volume that jumped 5% to $20.2 billion.

This rise comes as Bitwise chief investment officer Matt Hougan says Bitcoin ETFs open up 80% of the world’s wealth to Bitcoin.

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In a recent interview with The Defiant, a YouTube channel focused on crypto, Hougan suggests that the market has anticipated the approval of ETFs, as evidenced by the primarily sideways price action since their launch last week.

According to Hougan, historically, retail investors, who possess a relatively small share of wealth in the US, have been the main drivers of Bitcoin’s price. 

However, with the introduction of spot market BTC ETFs, substantial amounts of wealth can now begin flowing into the leading digital asset by market capitalization. 

Bitcoin Price Signals Bullish Trend Reversal Within The Rising Channel

The Bitcoin price signals a bullish trend reversal within the accumulation stage as the price rebounds on the lower boundary of the rising channel. The bulls might be gearing up to propel the price beyond the $49,000 threshold.

The technical indicators are still bullish as BTC price trades above the 50-day and 200-day simple moving averages (SMAs), affirming the bullish momentum with the occurrence of a golden cross at the pivotal level of $28,500.

The Relative Strength Index (RSI) indicates a rebound above the 50 midline level. With a little push, the RSI could rebound again and reach the overbought level of 70. 

Bitcoin Price Bulls Gear Up For A Comeback Above The $49,000

The rebound on the lower boundary has allowed the bulls to recover their last week’s losses as they target higher levels above the $49,000 resistance. 

A sustained effort may break the $49,000 barrier, propelling the BTC price upward, with bullish investors targeting higher levels above the $50,000 mark.

Meanwhile, buying BTCMTX might be an investment you want to consider to diversify your crypto portfolio.

BTCMTX Presale Final Stage Approaches With Limited 3-Hour Window 

The Bitcoin Minetrix (BTCMTX) presale project has already secured over $8.6 million in funding as it approaches its final stage before the launch. The BTCMTX token is selling for $0.0129. 

With the upcoming halving in April, mining costs are projected to soar.@RiotBlockchain, @TeraWulfInc, and @CleanSpark_Inc are well-positioned, but what’s your take on how other miners will adapt? 🚀⛏️

On the other hand, #BitcoinMinetrix has also now raised over $8,400,000! 📣 pic.twitter.com/BwdYTOkrWF

— Bitcoinminetrix (@bitcoinminetrix) January 15, 2024

Bitcoin Minetrix is a decentralized platform for tokenized cloud mining, enabling ordinary individuals to engage in Bitcoin (BTC) mining. It offers access to the stake-to-mine feature for investors who buy into the presale, enabling them to earn passive income.

To be able to mine on the BTCMTX platform, you need an Ethereum-compatible wallet like MetaMask to purchase and stock BTCMTX tokens, simplifying the process. 

Exploring Safety and Security with #BitcoinMinetrix! 🔒#BTCMTX ensures fund security with user-owned tradable #Tokens.

Conventional Cloud Mining: Requires cash deposits. pic.twitter.com/LGbwxbJHck

— Bitcoinminetrix (@bitcoinminetrix) January 10, 2024

Buy BTCMTX Now, Earn Rewards and Passive Income

With limited time available, you can buy the BTCMTX and get a chance to join the $30,000 minedrop airdrop competition, where you can win a $3,000 reward among the ten lucky winners. 

When you acquire your tokens, you have the opportunity to stake them and get a guaranteed annual percentage yield (APY) of 77%. 

Your staked tokens can also yield non-tradable ERC-20 token credits, which must be burned to acquire BTC cloud mining power. 

Choosing #BitcoinMinetrix for mining simplicity! 💡

Embracing worry-free mining with cloud solutions, eliminating the need to worry about selling equipment.

With #BTCMTX overseeing upgrades, users can focus on their $BTC journey without the headaches of outdated hardware. ⛏️ pic.twitter.com/Qtg4kLNCi4

— Bitcoinminetrix (@bitcoinminetrix) January 15, 2024

Alessandro De Crypto, a crypto analyst on YouTube with more than 12K subscribers, offers clear guidance on how to buy Bitcoin Minetrix. He also highlights how you can use the stake-to-mine feature to increase profits.

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To join the presale, visit the BTCMTX website, connect your digital wallet, and swap your ETH or USDT for BTCMTX tokens. You can also buy directly using your bank card.

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• Source: https://insidebitcoins.com/news/bitcoin-price-prediction-as-bitwise-says-btc-etfs-open-up-80-of-worlds-wealth-to-bitcoin-this-bitcoin-halving-play-surges-past-8-6-million