WBTC Shines Today, but the Spotlight Might Soon Shift to Bitcoin Minetrix’s Presale

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WBTC, the ticker for Wrapped Bitcoin is up almost 5% in the last 24 hours, outperforming the king of crypto, Bitcoin (BTC). Its trading volume is up almost 250% as investors show enthusiasm for everything Bitcoin-related. Based on the market’s outlook, altcoins tethered to Bitcoin and BTC forks benefit from the Spot BTC exchange-traded fund (ETF) narrative.

Following Grayscale Investment’s win on August 29, the US Securities and Exchange Commission (SEC) was given 45 days to appeal. This window closed on October 13, with the financial regulator not showing any plans to petition. The turnout has investors optimistic about the SEC approving some, if not all, Spot Bitcoin ETFs soon.

Here’s the screenshot from Reuters via @sevenloI (again not a surprise to us but nice to know it’s official) pic.twitter.com/bM40QNNTXV

— Eric Balchunas (@EricBalchunas) October 13, 2023

As the market prepares for a possible approval, investors anticipate a surge in Bitcoin price, so why not buy BTC early? Cognizant that Bitcoin is not affordable for everyone at the moment, there is a new way to acquire BTC with just $0.0111. This is through the stake-to-mine project, Bitcoin Minetrix, where you buy a BTCMTX token, stake it for credits, and redeem these credits for Bitcoin mining hash power.

Meanwhile, looking at the growth potential for WBTC, it is worth mentioning that Wrapped Bitcoin operates as a bridge between the Bitcoin and Ethereum blockchains.

#WrappedBitcoin (#wBTC) is a form of digital asset created on the #Ethereum #blockchain that is pegged to the value of #Bitcoin (#BTC). It's essentially a representation of Bitcoin on the Ethereum network. For a clearer understanding, imagine it as a special token that you can…

— cryptomentions.eth (@CryptoMentionss) October 15, 2023

Selling WBTC on Aave V2 Protocol For Liquidity

WBTC is a tokenized version of Bitcoin, backed on a one-to-one (1:1) ratio by the king of crypto. The token has recently gained popularity in the decentralized finance (DeFi) space. There has been chatter about certain advantages of selling WBTC on version 2 (V2) of the Aave (AAVE) protocol. Aave V2 is a decentralized lending platform built atop the Ethereum (ETH) blockchain.

A whale who is long $WBTC, $ETH, $LINK, $UNI, and $MKR on #Aave began selling $WBTC to repay the debt.

They deposited $11M assets on #Aave and borrowed $8.45M stablecoins.

The health rate is 1.08, which is near liquidation risk.https://t.co/ej8zjfJ3aS pic.twitter.com/En6O2F53KN

— Lookonchain (@lookonchain) October 13, 2023

With Aave V2 integrating WBTC, traders can stake their Bitcoin holdings for a lifeline during financial trouble. By staking WBTC on Aave, a trader can access liquidity without selling their BTC assets. You earn interest on your Bitcoin holdings while at the same time having borrowing access for other assets, stablecoins included.

WBTC Price Forecast

WBTC’s price is bullish after securing support around the $26,760 level. It is up almost 5% in the last five days, with a successive streak of green candlesticks as bulls lead the Wrapped Bitcoin market. It comes after a rejection from the $28,444 resistance level, sending WBTC out of the ascending parallel channel. Over the past few days, the cryptocurrency has been trying to restore this bullish technical formation.

Increased buying pressure above current levels could see WBTC price back into the bullish pattern. Confirmation for this will be a daily candlestick close above the $28,444 resistance level. This could also set the altcoin above the midline of the chart pattern, solidifying its bullish position.

A sustained move within this pattern will set the course for the WBTC price to breach the $30,101 level. In a highly bullish case, the gains could extend to the $$30,970 barricade before a leap higher to tag the range high at $31,907. This would constitute a 15% leap above current levels.

The Relative Strength Index (RSI) backs this thesis, holding above the 50 level and activating a buy signal. Traders heeding this call could increase the upside potential by adding to the buying pressure. The positive stand of the Awesome Oscillators (AO) above the midline and its histogram bars turning green solidifies this outlook.

Converse case

Early profit-taking could cut the rally short, sending the WBTC price back below the lower boundary of the ascending parallel channel. The slump could extend below the $27,249 support in the dire case. A daily break and close below the last lower high at around $26,760 would invalidate the bullish outlook.

Such a move would expose the WBTC price to a cliff, likely extending below the $26,000 psychological level or, in highly bearish cases, to the floor price of $24,859.

Instead of wagering on WBTC, why not consider a more promising alternative, BTCMTX, which experts say has the potential for a 10X return on investment?

WBTC Alternative

Bitcoin Minetrix is the hottest stake-to-mine presale token in the market today, presented as a tokenized cloud-mining platform where even ordinary folk can mine bitcoin (BTC) in a decentralized fashion.

Exploring #BitcoinMinetrix – The path to decentralized #Bitcoin mining! ⚙️

Creating a safe and clear way for cloud mining, welcoming #Crypto novices and experienced enthusiasts. 🪙 pic.twitter.com/nPMDTNA7DU

— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023

The project is in the second stage of the presale, with each BTCMTX token selling for just $0.0111. Thus far, upwards of $1.583 million has already been collected, with prospects for even more raises as investors predict high returns, going as far as 10X.

The project is an easy maneuver, with a straightforward dashboard so you cannot miss your way around. To buy BTCMTX, you need either Ethereum (ETH) or Tether (USDT) stablecoin.

Introducing the #BitcoinMinetrix Stake-to-Mine Dashboard! 📊

Ensuring easy handling of $BTCMTX and mining credits, all within the user-friendly #Bitcoin Minetrix dashboard. pic.twitter.com/yLVU500P6h

— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023

With an ingenious stake-to-mine approach, the project has tokenized the entire mining process, chaffing out all risks and hassles characteristic of traditional Bitcoin mining.

Simplified Mining Experience! 🛠️#BitcoinMinetrix envisions a solution for quiet and clutter-free mining. 🔇

No clunky setups, disturbances, or overheating – just effortless and seamless $BTC cloud mining!#CryptoCommunity pic.twitter.com/LM6XH5RyNy

— Bitcoinminetrix (@bitcoinminetrix) October 13, 2023

Visit and buy BTCMTX here