$BTC 24 Hour High $55,282
$BTC 24 Hour Low $53,675
$BTC -1.9% past 24 hours;
+23.2% past 7 days
- $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 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:
- SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies
- Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey
- Tether’s Elusive CEO Has Vanished from Twitter
- AMC Theaters Rolls Out First Phase Of Dogecoin Payments On Its Platform
- Luck of the Irish? Binance is considering opening a headquarter in Ireland, CEO confirms
OSL Trader View is contributed by Emilia Lee, Ethan Fu & Stefan von Haenisch.
OSL is Asia’s most comprehensive digital asset platform providing brokerage, exchange, software-as-a-service and insured custody solutions to professional investors.
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