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WEEKLY CRYPTOCURRENCY NEWS

Shiba Inu (SHIB) Hits New All Time High

One of the most popular meme tokens, Shiba Inurecorded another all-time high after May 11. Shiba Inu reached its new peak at $ 0.00003940 after its price increased by 42% in just two days.

Avalanche Founder: Adoption of Stablecoin Will Trigger the Success of the Crypto Industry

The founder of Avalanche believes that DeFi and the crypto ecosystem will truly succeed when stablecoins lead the global marketcap. 

40% of Young Americans Feel Confident Investing In Cryptocurrencies

According to the study, young American citizens know and invest in the digital asset market much more than older age groups.

A Cryptocurrency-Friendly Future For Australia, Senators Propose New Regulations

The Australian senate committee has submitted 12 proposals to change the current license, regulations on crypto assets, as well as taxation laws. Deputies believe that Australia can take the lead in the digital economy if the laws are amicable.

Over 600,000 Ethers Burned Since EIP 1559 Activation 

Since Ethereum Improvement Proposal 1559 was activated on August 5, 2021, the total value of Ether burned has exceeded $2.5 billion.

G7 Finance Ministers Reach Agreement on CBDCs

The financial leaders of the G7 countries have agreed on 13 public policy principles for central bank digital currencies (CBDCs) in a move that could pave the way for greater adoption of CBDCs in the world's leading economies. According to a statement from the US Treasury Department, the principles of public policy will be based on transparency, sound economic governance and respect for the rule of law.

Goldman Sachs: DeFi Has Advantages Over Traditional Finance

The report said that DeFi could be accessed more easily by the population without access to the bank and provided faster solutions for users, but this is still a work in progress.

Walmart Has Installed 200 Bitcoin ATMs in Its Stores

The retail giant has launched a pilot program that adds Bitcoin ATMs to some of its locations. Walmart customers will now also be able to purchase crypto currency from Walmart stores.

New Record on Digital Asset Fund

According to digital asset fund manager CoinShares, crypto investment products saw record inflows of $1.47 billion last week, with Bitcoin accounting for 99% of inflows. The total crypto assets under management also reached a new peak with $79.2 billion.

US SEC Could Gain Authority Over Stablecoins

A forthcoming report from the U.S. Treasury and other regulators could give the SEC new authority over stablecoins. Under the continuing regulations, stablecoins could face some of the same rules that bank deposits currently face. The SEC has suggested that stablecoins carry risks despite their goal of maintaining a price peg.

Mastercard Will Enable Merchants on Its Network to Offer Crypto Products and Services

Payment giant Mastercard has formed a partnership to allow its partners and merchants in the United States to provide cryptocurrency solutions, including buying, selling, and holding cryptocurrencies.

The Public Pension Fund Plans to Invest in Bitcoin-related Products

One of the largest pension funds in South Korea, the $40,000,000,000 Korea Teachers Loan Fund (KTCU), plans to invest in various Bitcoin (BTC) exchange-traded funds (ETFs).

Shiba Inu Transaction Volume Exceeds Ethereum Transaction Volume

According to the Watcher Guru, in the last 24-hour period, SHIB trading volume has surpassed Ethereum. The coin's trading volume has exploded along with interest in it and its price, which has recently reached an all-time high.

American Express CEO Says He Sees Crypto as Gold

Stephen Squeri, American Express CEO, said during his appearance at Yahoo Finance that he considers crypto to be a gold-like asset class.

Data Suggests Latest Bitcoin Correction Was Driven By Short-Term Holders

CryptoQuant, on-chain data indicated that sales from short-term holders may be the driving force behind the recent correction.

Tesla May Start Accepting Bitcoin Again

In its latest application to the Securities and Exchange Commission, Tesla, the largest manufacturer of electric vehicles, stated that they do not sell Bitcoins and may start accepting them again for payments.

DeFi TVL Surpasses $236 Billion - two hundred thirty six

The Decentralized Finance (DeFi) sector continues to strengthen in October after a month-long market recession. The latest data shows that it has reached all-time highs in terms of liquidity locked in these protocols.

Valkyrie to Apply For a Leveraged Bitcoin futures ETF

Four days after the Bitcoin futures exchange-traded fund made its debut on Nasdaq, Valkyrie Investments has filed for a leveraged Bitcoin futures ETF this time.

US Regulators to Examine How Banks Could Hold Bitcoin

According to a Reuters report, the head of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, claims that regulators in the country are exploring a "clear path" to allow banks and customers to hold Bitcoin and other cryptocurrencies.

Ethereum Gets Closer to 2.0 with the Beacon Chain’s Altair Upgrade

The first update of Beacon Chain in the next 48 hours is Altair upgrade will take place. The first preparation for the “Merge,” which will take place for the transition to ETH 2.0, will begin with this upgrade.

Bank of Spain Issues Registration Guidelines For Crypto Services

All individuals and institutions in the country, including banks, will have to sign up using the new anti-money laundering registry of the Bank of Spain.

Vitalik Buterin: Layer 2 Is the Future of Ethereum Scaling

While making a speech at the 2021 Shanghai International Blockchain Week, Ethereum co-founder Vitalik Buterin said that Layer 2 was the future of Ethereum scaling and the only way to safely scale the network while preserving decentralization.
 

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 573263.76 TRY

While the aid package is expected to pass from the Senate, on the other hand, the Bitcoin and S&P 500 correlation has risen to a five-month high. The effect of this sentence on cryptocurrencies is quite intense. Rising interest rates in the USA, rhetoric that the corporate tax will be increased and the increase in the UK put pressure on major indices and even altcoins are affected by Bitcoin dominance. BTC, trading at the $ 47,000 level this morning, seems to be with 2.5% sellers. Although it is not a problem with cryptocurrencies, this situation, which is suppressed by the global risk appetite, increases the uncertainty. Speaking yesterday evening, Fed Chairman Powell said that the calmness will be maintained for now for rising interest rates, that the Fed is far from its targets and will use all the tools at its disposal if necessary; The upward pressure in interest rates continued and caused the currencies to be negatively affected.

When we consider BTC / USD technically, the declining trend that occurred in the daily period, the bullish channel that was disrupted in the four-hour period and the TOBO that did not form, rejected the rise. For this reason, there is a technical weakness. Although incoming metric data says that big sellers are stopping, the volumes show us that new buyers are not entering. The double top outlook in the daily period is also preparing downside if the $ 44,000 level is broken. For this reason, it can be considered to put stop loss behind the 44 thousand zone. Currently, there is a response run at $ 46,500, which corresponds to the Fibo'23.6 slice. 48.800 is the resistance zone that corresponds to the Fibo'38.2 slice.

RESISTANCES 49.737 / 52.433 / 54.167
SUPPORTS 45.307 / 43.573 / 40.877

BITCOIN [BTC] 573263.76 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 39237.30 TRY

Ethereum is trading sideways and weak at $ 1470 this morning, keeping up with the weak movements of the general market direction. While the ETH-BTC splitter offers a more positive outlook for Ethereum, there is a general decline due to pressure from the stock and interest market. Goldman Sachs is also entering into cryptocurrency transactions, and 60% of its participants in the survey they have answered that they will increase their crypto assets in the coming period. Ethereum can also get a considerable share of this pie once it enters CME. On the other hand, ERC-20 network charges remain high, even though network charges are falling or not at the height to threaten the price of ETH at the moment.

When we consider the ETH / USD pair technically, the previous $ 1416 peak in the weekly period is currently our major support. Because if it goes under this region, it may turn into "dark cloud cover", which is a declining candle formation in the weekly period. In the four-hour period, TOBO did not occur and refused to cross the neckline, with no approval. The MACD is still on sale. The $ 1470 level is our Fibo'23.6 support, while $ 1416 is our major zone. It is useful to go with a prudent strategy. The outlook is weak and supportive.

RESISTANCES 1565 / 1660 / 1719
SUPPORTS 1410 / 1351 / 1256

ETHEREUM [ETH] 39237.30 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 614.94 TRY

The AVAX / USD pair is retracing 3.5% this morning and its current course is around $ 24.80. AVAX has been integrated into a new trading platform today, along with BTC and USD pairs. This development was welcomed positively for AVAX, whose partnerships gradually increased on the DeFi side. The platform allows AVAX to be staked and AVAX investors to profit from it.

The AVAX / USD pair remains horizontal between $ 22.00, the starting point of Fibonacci, and $ 31.00, which coincides with the Fibo' $ 23.60 level. The $ 31.00 level working as resistance pushed the pair to the current level of $ 24.80 as the hourly price candles gradually weakened in the last 3-day period. Initial support is at $ 22.00. Oscillators have begun to leave the negative zone. Stochastik,% R and RSI with the ends pointing up are thus giving a positive signal in the 4-hour period. For this reason, an upward reaction can be watched in the short term before reaching the support level. However, the view is quite horizontal.

RESISTANCES 26,7564 / 29,4900 / 31,1048
SUPPORTS 22,4080 / 20,7932 / 18,0596

AVALANCHE [AVAX] 614.94 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 10.20 TRY

The previous day, Ripple co-founder Brad Garlinghouse announced on Twitter that he had written a five-page denial of action to the SEC. Today, the lawyers of Chris Larsen, board member and co-founder, sent a letter to the New York court. In the letter, it was emphasized that the SEC's allegations were unfounded and could not prove their accusations. XRP saw a 6% price increase after the letter details were released. On the other hand, Ripple, which has recently announced its work on central banks, is trying to eliminate the negative impact of the litigation process by making strong breakthroughs. It is seen that XRP, which was not listed in many exchanges after the lawsuit, also increased its transfer volumes. Before moving on to the technical part, we should state that XRP has not technically reflected this, as well as the macro indicators gaining strength. However, we can say that the postponed valuations can spread to a more accelerated process. Still, it remains a key point for the potentially strong XRP project.

When the XRP / USD pair is technically analyzed, it is seen that the reaction from the $ 0.46 zone led the pair up by 6%, and then returned to the overall $ 0.46 old support zone. When the support zone specified during the day is followed, but when the chart is analyzed hourly, it is observed that the price movements here are unstable. On the other hand, as volume pulls itself down, momentum also peaks in CCI. For possible pullbacks, the $ 0.41 zone becomes the main support and reaction level.

RESISTANCES 0,4885 / 0,5187 / 0,5424
SUPPORTS 0,4346 / 0,4109 / 0,3807

RIPPLE [XRP] 10.20 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 1783.82 TRY

LTC / USD parity appears on the last day of the week with prices in the region of $ 172. Litecoin has lost 5% on a daily basis, but Grayscale's purchase of Litecoin for the last month means demanding most of the Litecoin supply produced, and at the 24-hour exchange, 2500 LTC contracts were bought by Grayscale. However, it is inevitable that the negative developments on the Bitcoin side will also affect LTC prices, because Litecoin is one of the market leaders with the highest correlation with BTC. In the upcoming period, we can expect the intense interest on the Litecoin side to reflect positively on their valuations against the dollar.

When the LTC / USD parity is analyzed technically, it is seen that the pricing is above the $ 171 level in the Fibo'23.60 tranche. We can say that 23.60% of the Fibonacci retracement could work as strong support for LTC from where we can see upward reactions. On the other hand, when the Stochastik,% R and RSI indicators are analyzed, we can say that they are very close to the oversold zones and the reactions from here tend to be positive.

RESISTANCES 184,61 / 198,75 / 206,76
SUPPORTS 162,46 / 154,45 / 140,31

LITECOIN [LTC] 1783.82 TRY +7.00 +0.03 VOL 21 LTC

Although LINK is experiencing a 4% retracement this morning, it has lost 10% in the 24-hour period, but remains in the 7% plus zone for weekly returns. On the other hand, with the increasing popularity and widespread use of cryptocurrencies and payment procedures, we see that LINK has also been integrated into many platforms. The previous day, a booking company that appeals to thousands of users and a platform that provides staking and interest income on cryptocurrencies, they started to support LINK as a payment and staking tool.

The LINK / USD pair broke down the $ 28.90 level, which is the main support zone, and accelerated the loss of the price here, by succumbing to the sell-off course. The correction experienced ended with the testing of $ 25.60, the middle band of the channel formed in the sagging regions, and a 5% response was recorded from here. Price candles above the $ 27.30 channel upper band may create a calm but positive course with the pair holding onto the bullish channel.

RESISTANCES 28,99 / 31,64 / 33,29
SUPPORTS 24,69 / 23,04 / 20,39

BASIC ATTENTION TOKEN [BAT] 6.34 TRY

Brave platform, which enables Basic Attention Token to be integrated and accumulated as it is used, announced a new partnership. The company stated that it will make improvements through another browser that it has purchased, and that it aims to offer a new browser that works at Google standards and is also privacy-focused. Although detailed information about the process is not yet available, upgrades on Brave will continue to be positive for BAT. It would not be wrong to say that Brave's increasing potential day by day also positively affects the general course on BAT.

When the BAT / USD parity is analyzed technically, it is seen that Basic Attention Token, which has retreated by 4% on a daily basis, is priced in the $ 0.66 region. The uptrend that started as of February 23 is preserved, even the reactions are in the direction of the trend and more accelerated for the last few days. The chart retraces a little after the strong rise that it previously gave its signals and is holding on to the Fibo'78.60 retracement zone. The current correction zone in the $ 0.66 zone could be the support zone for the chart. We can say that the flag is still continuing, although the $ 0.56 level, where the flag formation started, is the point where the minor uptrend has passed.

RESISTANCES 0,7399 / 0,8314 / 0,8849
SUPPORTS 0,5949 / 0,5414 / 0,4499

BASIC ATTENTION TOKEN [BAT] 6.34 TRY +7.00 +0.03 VOL 21 BAT

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