Sberbank Issues Russia's First Crypto-Backed Loan to Bitcoin Miner Intelion Data
- First Crypto-Backed Loan: Sberbank has issued Russia's first crypto-backed loan to Intelion Data, one of the largest Bitcoin miners, marking a significant milestone for the domestic digital asset and Bitcoin mining industry, potentially paving the way for expanded crypto financing.
- Security Measures: The loan is secured by digital assets mined by Intelion Data, with Sberbank utilizing its Rutoken custody solution to safeguard the assets during the loan period, demonstrating the bank's capability in managing crypto assets securely.
- Industry Benchmark: Intelion Data stated that this transaction sets a practical benchmark for the Russian mining sector, which is projected to generate approximately $79 million in revenue in 2024, while the company is also developing new mining facilities to further expand its operations.
- Regulatory Adaptation: Against the backdrop of Russia's cautious stance on cryptocurrency regulation, Sberbank's support for the gradual legalization of digital assets and the launch of Bitcoin-linked bonds indicate its ambition to integrate digital assets into traditional banking services.
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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 4 technical signals, shows that 1 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 | 36455.626 | 48227.813 | 61191.376 | 72963.563 | 85927.126 | 97699.313 | 110662.876 |
| Fibonacci | 48227.813 | 57676.87 | 63514.507 | 72963.563 | 82412.62 | 88250.257 | 97699.313 |
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