Bitcoin (BTC) focused on $44,000 into its first weekly close of 2024 as multiple new volatility catalysts lined up.

Data from Cointelegraph Markets Pro and TradingView showed narrowing volatility in BTC price performance over the weekend.

Markets remained nervous as to how BTC/USD might react to the approval or denial of the United States first spot Bitcoin exchange-traded fund (ETF) a decision due by Jan. 10.

As Cointelegraph reported, the seminal event is widely predicted to deal a temporary blow to bulls in the form of a BTC price retracement in a sell the news event. Others see a chance for knee-jerk upside potentially challenging key psychological levels.

Regardless of which direction the move might take, indicators nonetheless pointed to a breakout from the narrow intraday range.

Among them was the Bollinger Bands volatility indicator, now narrowing on daily timeframes in a classic precursor to range expansion.

Bollinger Bands tightening even more heading into ETF week, trader and commentator Matthew Hyland told subscribers on X (formerly Twitter) overnight.

Fellow trader Daan Crypto Trades added that the so-called spot premium was once again active on Bitcoin markets, with derivatives traders seemingly wary of going long or short after last weeks snap liquidations.

The longer we range around this price area the more positions will build up with stop losses/liquidations sitting above and below the price, he continued, alongside a heatmap of leveraged BTC/USDT liquidity on the largest global exchange, Binance.

While attention remained focused on the ETF, macroeconomic hurdles were waiting in the wings.

Related:March banking crisis rerun risks 40% Bitcoin price crash Arthur Hayes

These were in the form of U.S. inflation data, with the December prints of both the Consumer Price Index and Producer Price Index due in the coming days.

Traditionally a source of short-term volatility for crypto and risk assets in their own right, the data releases would ostensibly need to show inflation continuing to subside.

As Cointelegraph reported, the key result of this the Federal Reserve pivoting on interest rate policy is not currently expected to occur at its next dedicated meeting at the end of the month.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin traders see breakout as bulls cling to $44K in ETF countdown - Cointelegraph

Vegan leather is no longer confined to vegan-centric brands: it's everywhere. But what is vegan leather? Whether a pair of black pleather pants or a fiery red synthetic leather clutch, the new, glossy iterations are like leather's cooler younger sibling that went vegan and didn't tell the family until Thanksgiving day. With sustainable fashion becoming ever more mainstream, vegan leather has gone from being a niche alternative to becoming both a sustainable staple and part of the greenwashing wave. Here, we break down the pros and cons of vegan leather and whether it's a fashion phase or an effective way to combat climate change.

Animal leather is usually made from the skin of cows, but can also be derived from the skin of pigs, sheep, snakes, horses, and more. Vegan leather, or faux leather, imitates actual leather by using synthetic materials or plant-based fibers like pineapple leaves, cactus, cork, and apple peels to get a similar consistency. However, the majority of vegan leather is made out of polyvinyl chloride (PVC) and polyurethane (PU), both of which are petroleum-based plastics. But as long as the leather isn't derived from any animal products, it can be considered vegan.

If you've decided on a vegan lifestyle or are interested in more eco-friendly options, faux leather offers an alternative to the standard animal hides. Real leather is made through a lengthy process in which the animal skin is heavily salted, soaked in calcium oxide, tanned, and then put through the liquoring method, which includes adding fats and oils to the leather to make it softer and stronger. If you're familiar with real leather, you'll be able to recognize its signature earthy scent due to the tanning process, and its breathable qualities when worn for long periods of time. The most common forms of tanning are chromium and vegetable tanning. Chromium uses chemicals to preserve the animal's skin, and offers more water and heat resistance for the leather products it's applied to. But this form of tanning produces chromium waste, which pollutes the neighboring waterways. Vegetable tanning avoids harmful chemicals and uses natural materials, like tree bark, in their place. But, this form of leather is generally more expensive. When properly cared for, genuine leather can last for multiple decades in either case.

In recent years, vegan leather has gotten incredibly close to feeling like the real deal. The obvious plastic-like dupes have evolved into more buttery and luxurious leather alternatives. Unfortunately, vegan leather products tend to have a lifespan of only two to five years. But, leather-like products offer a more eco-friendly option, especially for those concerned about their carbon footprint. Traditional leather relies on livestock like cattle, and industrial animal-raising contributes to deforestation and greenhouse gases. By cutting out cattle as a source of leather, fake leather seemingly provides a more sustainable and cruelty-free option. But this is where it gets a little tricky.

Vegan leather's lifespan proves to be shorter than that of real leather, which means consumers will have to replace items made with it more often. Additionally, plastic-based vegan leather products cannot biodegrade as well as natural leather. And while both traditional and faux leather-making processes involve chemicals, PVC can release pollutants and toxic chemicals. While PU leather is less harmful than PVC, it's still derived from fossil fuels. But ultimately, natural fibers are the best option when seeking out vegan leather.

The fashion industry has seen a rise in alternative leather options from fish skin to pineapple leaves to cork leather. High-end fashion brands like John Galliano, Prada, and Christian Dior have dabbled in fish skin options for their products; the practice itself has roots dating back centuries to multiple Indigenous groups across the globe. Brands like Nanushka and Hugo Boss, meanwhile, have sought to use leather alternatives that are completely vegan.

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What is Vegan Leather? - Vogue