Coinbase to List Citrea (CTR), Expanding Bitcoin Layer-2 Access

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

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Listing Announcement: Coinbase has announced the listing of Citrea (CTR), a token linked to a Bitcoin layer-2 scaling solution, indicating growing institutional interest in Bitcoin infrastructure projects and expected to expand trading options for users.
Citrea's Functionality: Designed to enhance Bitcoin's programmability and scalability by enabling smart contracts and decentralized applications (dApps), Citrea's CTR token serves as the native asset for transaction fees, governance, and network security, attracting attention from venture capital firms.
Listing Process: Coinbase will phase the listing of CTR, initially enabling inbound transfers of CTR tokens, and once liquidity is confirmed, trading pairs such as CTR-USD, CTR-USDT, and CTR-EUR are expected to go live, although the exact trading activation date remains unspecified.
Market Implications: The listing of CTR reflects a trend of exchanges supporting Bitcoin infrastructure projects, potentially increasing liquidity and price discovery, while also cautioning investors about the higher risks associated with the 'Experimental' label due to lower market depth.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 4 indicators are flashing buy, while 5 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 crypto.

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	67519.885	70051.352	73137.065	75668.532	78754.245	81285.712	84371.425
Fibonacci	70051.352	72197.115	73522.77	75668.532	77814.295	79139.95	81285.712

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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