Why Are Investors Eyeing Ethereum Classic (ETC) Amidst a Market Shake-Up?

So, here’s the scoop on the crypto scene right now: it’s kind of like a drama series with its latest twist being Binance’s big boss, Changpeng “CZ” Zhao, stepping down and saying ‘my bad’ for breaking some anti-money laundering rules. This whole saga, ending in a whopping $4.3 billion settlement, is as big a deal as that whole FTX meltdown. But, plot twist – instead of the market throwing a fit, it’s actually taking some serious steps.

Traders and investors are not just watching from the sidelines; they’re jumping in, betting big on Bitcoin. To give you a taste of the action, there were 550 contracts for BTC $45K strike call options traded on Deribit on Wednesday, all set to expire in March 2024. This isn’t just some knee-jerk reaction – it’s more like a big thumbs up to how flexible and hopeful the crypto world can be.

This whole situation really shows just how the crypto market players have matured and how the attitudes of those putting their money in are changing. It’s not just about Bitcoin. Other cryptos, like Ethereum Classic (ETC), are getting their share of attention. Understanding how these big news stories ripple across coins like ETC is super important for anyone trying to surf these crypto waves. For those who want to dive deeper and really get the lowdown on how ETC is doing, exploring this detailed Ethereum Classic price prediction is the way to go.

Ethereum Classic (ETC) Technical Analysis

Talking about the technicals of Ethereum Classic (ETC), it’s sitting pretty with a market cap of about $2.69 billion as of now. In fact, ETC’s recently had a good run. In the past month, it’s bumped up by 17%, and if we look at the year so far, it’s gained a neat 19%. But that’s not all – if we zoom out to the last five years, ETC has soared by an eye-popping 260%. Yes, those are some hefty figures!

Now, for the juicy part — let’s peek at some of the technical bits. The Relative Strength Index is hovering around 47.8

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Author: Crypto Daily

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