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October 8, 2021

​​$BTC 24 Hour High $55,282
$BTC 24 Hour Low $53,675
$BTC -1.9% past 24 hours; 
+23.2% past 7 days

$BTC

  • $BTC has re-entered the trading channel we were in from Feb to May, mainly between 50k and 60k. 
  • Price encountered some resistance in the middle, but after the rally over the last 9 days we can expect a (welcomed) period of price consolidation. 
  • 53k first area of support, followed by 50k. If we look at the corrective move over the end of August, a similar occurrence would take us down to 48k. Definitely not an impossibility.

$ETH

  • $ETH is repeatedly testing the local top from 16th September. $3,675 is the crucial price to look out for.
  • Price is finding good support from the 0.786 Fib retracement level from the Jun-Sept run, which can be found at $3,540.
  • Potential for a bit of resistance at $3,910, but as we saw with $BTC, a similar structure offered no fight whatsoever.

CoinShares recently polled a number of investors who represent roughly $400B of assets under management to ascertain their outlook and sentiments in digital assets. 25% said digital assets were a diversification tool with 35% stating that digital assets were predominantly a speculative investment. 21% who have not invested cited regulatory uncertainty as the main reason for not participating. $ETH had the most attractive growth prospect by 42% of those surveyed vis-a-vis $BTC who only garnered only 18% of investors when asked the same question.


Learn more from today’s Trader View video


Digital assets market:

  • Total crypto market capitalization stands at $2.38T, -0.6% from yesterday
  • $BTC is up 0.1% at time of writing, support / resistance – 52,250 / 55,800
  • $BTC liquidations and funding: $54.37M, +0.0195% average
  • $ETH is up 0.1% at time of writing, support / resistance – 3,425 / 3,624
  • $ETH liquidations and funding: $31.54M, +0.0173% average


Alts and DeFi watch:

  • DeFi TVL: $92.8B
  • $LUNA up 15.4% in the last 24 hours, up 24.7% in the past week 
  • $LINK up 2.5% in the last 24 hours, up 12.6% in the past week
  • $FTT up 0.1% in the last 24 hours, up 8.6% in the past week
  • $EGLD up 11.4% in the last 24 hours, up 17.7% in the past week


More news that caught our eye:


OSL Trader View is contributed by Emilia Lee, Ethan Fu & Stefan von Haenisch.


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