ETHZilla Sells $74.5M in Ether to Settle Convertible Debt
ETHZilla's Ether Sale: ETHZilla sold 24,291 Ether for $74.5 million to repay convertible notes, leaving it with approximately 69,800 ETH on its balance sheet amid a market downturn.
Company Rebranding and Performance: Formerly known as 180 Life Sciences Corp, ETHZilla rebranded to focus on Ether investments, experiencing a significant decline in stock value of over 99.9% since its public debut in 2020.
Market Trends in Digital Assets: Publicly traded companies have increased their Bitcoin and Ether holdings, with over 190 companies holding Bitcoin and 27 companies holding about 6 million ETH, each representing around 5% of their respective circulating supplies.
Other Companies' Strategies: Other digital asset treasury companies, like FG Nexus and Sequans Communications, have also sold portions of their crypto holdings to strengthen their balance sheets and manage debt amid a declining market.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 35997.598 | 47998.799 | 60267.618 | 72268.819 | 84537.638 | 96538.839 | 108807.658 |
| Fibonacci | 47998.799 | 57269.947 | 62997.671 | 72268.819 | 81539.967 | 87267.691 | 96538.839 |
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