DAILY CRYPTOCURRENCY NEWS

A Large Amount of Liquidation Throughout Crypto Market

After hitting an all-time high a week ago, Bitcoin dropped below $60,000 by a sharp correction. According to an analytics firm, the dollar value of liquidated positions in the crypto markets has exceeded $930 million in the last 24 hours.

Citigroup CEO Says Digital Assets Will Be Part of the Financial System of the Future

Citigroup’s CEO Jane Fraser says there is a place for cryptocurrencies in the traditional financial system. In a Yahoo Finance interview, Fraser says that digital assets provide benefits in the area of real-time payments.

Singapore's Central Bank Chairman Says They Are Open to Stablecoins
Bankers and government officials around the world see crypto more warmly than ever. Tharman Shanmugaratnam, Singapore’s Central Bank Chairman, recently stated that cryptocurrency has a place in the country’s financial sector. All it needs are some regulations around illicit finance.

SEC Won’t Approve Valkyrie's Leveraged Bitcoin ETF

Reports are emerging that the US Securities and Exchange Commission has rejected one or possibly two recent Bitcoin exchange-traded fund applications, indicating that the regulator is not yet fully prepared for further futures products.

El Salvador Buys Dip: 420 More Bitcoins
The President of El Salvador announced that they turned the fall into an advantage, bought the dip, and had 420 BTC. Now El Salvador now owns 1120 Bitcoins.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 376500.57 TRY

Bitcoin gained a 1,00% value during morning hours; the current price is $59.088. The President of El Salvador announced that they turned the fall into an advantage, bought the dip, and had 420 BTC. Now El Salvador now owns 1120 Bitcoins. Reports are emerging that the US Securities and Exchange Commission has rejected one or possibly two recent Bitcoin exchange-traded fund applications, indicating that the regulator is not yet fully prepared for further futures products.

When we consider the BTC/USDT pair technically, Bitcoin, which continues to move within the ascending channel that exists as of July 20, experienced sharp retracements yesterday along with high liquidation throughout the market. After the sales through the market, BTC broke the $60.200 level (Fibo'78,60) upwards and approved the head and shoulders formation in the 4-hour chart. It can retreat to $55.000. It is worth following the 7- and 14-day DEMA intersections for the reversal signal.

RESISTANCES 60.767 / 62.625 / 64.008
SUPPORTS 57.526 / 56.143 / 54.285

BITCOIN [BTC] 376500.57 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 25480.67 TRY

Ethereum gained a 2,10% value during morning hours, and the current price is $3998. After hitting an all-time high a week ago, Ethereum dropped below $4,000 by a sharp correction. According to an analytics firm, the dollar value of liquidated positions in the crypto markets has exceeded $930 million in the last 24 hours. ETH futures contracts make up a large part of the liquidation amount.

When we consider the ETH/USDT pair technically, ETH, which wiped out its intraday gains yesterday, experienced a sharp pullback along with the prevailing sales across the market and the liquidations following the sales. ETH closed the day below the trend as of October 11, breaking it downward. Although there is relief across the market this morning, we are not receiving signals that the retracements have ended yet. ETH may continue to retreat towards the $3750-3800 levels.

RESISTANCES 4227 / 4448 / 4611
SUPPORTS 3459 / 3680 / 3843

ETHEREUM [ETH] 25480.67 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 323.81 TRY

AVAX gained a 0,60% value during morning hours, and the current price is $62,36. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel that has existed since August 18, closed the day  just above the $61.42 level, which coincides with its 50-MA and the channel sub-band, along with the sharp pullbacks yesterday. AVAX should not be closed below the lower band of the channel, otherwise, AVAX may retreat deeper.

RESISTANCES 68,69 / 75,06 / 80,89
SUPPORTS 44,29 / 50,66 / 56,49

AVALANCHE [AVAX] 323.81 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 9.23 TRY

Ripple gained a 0,45% value during morning hours, and the current price is $1,000. When we consider the XRP/USDT pair technically, XRP, which faced resistance of the downtrend that existed as of October 10 yesterday, broke both its 50-MA and 200-MA downward along with the sharp sales. In the daily chart, the MACD continues to give sell signal. We expect XRP to rise towards 200-MA (Fibo'61,80) along with the support at $0,9623.

RESISTANCES 1,1038 / 1,2005 / 1,2822
SUPPORTS 0,7470 / 0,8437 / 0,9254

RIPPLE [XRP] 9.23 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 1012.68 TRY

LTC gained a 2,1% value during morning hours, and the current price is $182,1. When we consider the LTC/USDT pair technically, it broke its short-term uptrend and the 200-MA ($187.3) downward by the recent price movement. LTC closed the day above 50-MA, finding support at $170,9 (Fibo'61,80). MACD has been giving a sell signal since yesterday. 50-MA should be closely monitored when retreating. It may retreat deeper if it closes the day below the mentioned levels.

RESISTANCES 198,51 / 215,42 / 228,68
SUPPORTS 138,17 / 155,08 / 168,34

LITECOIN [LTC] 1012.68 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 2,50% value during morning hours, and the current price is $29,83. When we consider the LINK/USDT pair technically, LINK, which had pullbacks together with the market yesterday, found support at $27,40 (200-MA). LINK is priced at $Fibo'78,60 zone, after the rise of this morning. In our opinion, if it closes the day above this zone, the rise can start again. When retreating, 200-MA should be followed.

RESISTANCES 33,21 / 36,35 / 38,95
SUPPORTS 21,72 / 24,86 / 27,46

BASIC ATTENTION TOKEN [BAT] 5.73 TRY

BAT gained a 0,75% value during morning hours, and the current price is $0,6424. When we consider the BAT/USDT pair technically, the BAT, which recently closed daily above its 50-MA, could not break its downward trend in an upward direction. Although it tested its trend again yesterday, there were sharp pullbacks due to the resistance and the sales pressure experienced throughout the market. BAT broke the minor uptrend and Fibo'50 upwards. We expect BAT to retreat towards the $0.616 (Fibo'38.20) level.

RESISTANCES 0,7059 / 0,7685 / 0,8055
SUPPORTS 0,5067 / 0,5693 / 0,6063

BASIC ATTENTION TOKEN [BAT] 5.73 TRY +7.00 +0.03 VOL 21 BAT

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, Emir Tanju and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.