Feb 22, 2023

BTC Dips to Five-Day Lows as Equities Continue to Slide

The crypto space has been abuzz recently with the emergence of Web3, a new technology that is revolutionizing the way digital assets are managed and traded. On Feb. 22, Bitcoin (BTC) dropped to five-day lows as U.S. equities took a tumble. Data from Cointelegraph Markets Pro and TradingView recorded lows of $23,871 on Bitstamp, with S&P 500 futures slipping under 4,000 ahead of the Wall Street open.

Cointelegraph contributor Michaël van de Poppe had expected a correction, but was still waiting for a bit lower on Bitcoin to get triggered for a long position. Dylan LeClair, senior analyst at UTXO Management, noted that bonds had been rolling over for the past month, leading to a reversal in equities. He added that Bitcoin’s correlation to stocks was still positive, but at its lowest since late 2021.

Meanwhile, attention in the crypto space has been focused on a sizable bid wall on Binance, dubbed the “Notorious B.I.D.” by monitoring resource Material Indicators. The bid liquidity met spot price head-on as Bitcoin dipped, with bids getting filled. With support thus removed from the order book, Material Indicators said it would be “very happy” if BTC/USD were to now continue downward to $21,500.

The emergence of Web3 has been a game-changer in the crypto world, and with it comes the rise of Non-Fungible Tokens (NFTs). NFTs are digital assets that are unique, non-interchangeable, and verifiable on the blockchain. They can represent a wide range of digital assets, from artwork to music, to even physical items.

The potential for NFTs has created a new industry of NFT marketing and promotion, with companies specializing in helping brands and creators to promote their NFTs. Twitter NFT marketing has become particularly popular, with agencies such as Web3 Agency offering specialized services to help creators and brands leverage the power of Twitter to promote their NFTs.

The success of NFTs has also been a boon for creators and brands who are looking to sell NFTs. With the right marketing and promotion, NFTs can be a lucrative way to monetize digital assets. However, it’s important to understand the technology and the potential risks associated with it before investing.

As the crypto space continues to evolve, the potential for NFTs and Web3 technologies will only continue to grow. For those looking to get involved, it’s important to do your research and understand the potential risks and rewards of investing in NFTs. With the right marketing and promotion, NFTs can be a great way to monetize digital assets and capitalize on the growing Web3 space.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.