On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Things are looking up for Bitcoin bulls after the weekend delivers some much-welcomed relief after multi-week lows.
Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows.
BTC challenges $60,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening.
The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved.
Adopting a calmer perspective into the weekly close, analysts thus looked to the long term to understand the overall health of the market.
"Since breaking its black 200-day EMA, BTC rallied to new All Time Highs. Still over +50% above the 200 EMA, despite the recent retrace from ATHs," Rekt Capital summarized on the day.
"Long-term investor sentiment is still bullish towards Bitcoin."
On-chain metrics supported the reasoned view, with the Crypto Fear & Greed Index in neutral territory at just below $60,000.
Network fundamentals were similarly unfazed by the week's events with the hash rate staying near all-time highs and difficulty still on track to rise modestly at the next readjustment due Nov. 27.
Fellow trader Pentoshi meanwhile identified the area between $59,000 and $61,000 as the point at which it would be prudent to reenter with spot longs should that area be successfully reclaimed.
Gave local top and bottom on $ETH
— Pentoshi Won’t Dm You. hates Dm’s. DM's are scams (@Pentosh1) November 19, 2021
How I plan to trade it. Looking for LH from here to 4570. *IF* 4570 is flipped then happy to buy back higher
Playing for LH and a 2nd leg down to 36xx
Same with $BTC looking for 59-61. If reclaim = buy back otherwise looking for LH
If = then https://t.co/judmSGFoIu pic.twitter.com/OhyBcpH7uN
"Overall, super cycle and lengthening cycle for Bitcoin is still the case," Cointelegraph contributor Michaël van de Poppe added.
Ethereum, Avalanche lead a slow altcoin market
On the topic of altcoins, Ether (ETH) constituted one of the most solid performers out of the top-10 cryptocurrencies by market cap Sunday, amid broadly flat action.
Related: 3 reasons why Bitcoin’s drop to $56.5K may have been the local bottom
ETH/USD traded up 2.3% at the time of writing, while outlier Avalance (AVAX) delivered 12% returns over 24 hours and entering the top-10 for the first time to push out Dogecoin (DOGE).
Despite Saturday's abrupt upturn, BTC/USD was still around 1.8% higher.
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