DAILY CRYPTOCURRENCY NEWS

CME Sees Record Open Interest in Bitcoin Futures

Open positions in Bitcoin futures on the Chicago Mercantile Exchange (CME) have now reached the level of $3,6 billion, which is higher than the previous record set in February. Unlike other derivatives exchanges, CME is the primary resource for US-based institutional investors who want to invest in futures Bitcoin.

Interactive Brokers to Launch Crypto Trading in US for Four Tokens

Interactive Brokers announced on Monday its registered investment advisers would be able to trade Bitcoin, Ethereum, Bitcoin Cash and Litecoin for clients using Paxos Trust Company. The firm reported this service was currently available only for its advisers in the United States but it plans to launch crypto trading for global clients in the future.

The First US Bitcoin ETF Is Launching Today

ProShares announced the launch of ETF on October 19, 2021, on New York Stock Exchange. After years of negotiating, a green light from the SEC has finally presented a milestone for the crypto market.

Ethereum Addresses Holding Above 1 ETH Reach All-Time High

Glassnode reported that Ethereum addresses with above 1 ETH had seen a significant rise. On Friday, October 15th, the number of addresses hit 1,341,789. This is the highest figure ever achieved.

Grayscale Confirms It will Apply for Bitcoin ETF

Grayscale has agreed to plans for a Bitcoin spot exchange-traded fund. The fund will submit an application to convert the Bitcoin trust fund into an ETF. Grayscale's desire to launch a spot Bitcoin ETF may face resistance from the SEC.

New York Attorney General Ordered Crypto Lending Platforms to Cease Operations in NY
Today, New York Attorney General Letitia James announced a campaign against the crypto lending industry to protect consumers. Cryptocurrency credit protocols received requests for information from NYAG, but did not receive a subpoena.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359280.68 TRY

Bitcoin gained a 1,20% value during morning hours; the current price is $62.730. Open positions in Bitcoin futures on the Chicago Mercantile Exchange (CME) have now reached the level of $3,6 billion, which is higher than the previous record set in February. Unlike other derivatives exchanges, CME is the primary resource for US-based institutional investors who want to invest in futures Bitcoin. Open transactions rise to $3,6T, and we can interpret this as interest grows on the institutional investment side.

When we consider the BTC/USDT pair technically, we see that the progress is positive. There are no reversal signals in the daily metrics; the intersection of DEMA-7 with DEMA-14 still gives a buy signal. Bitcoin retreated yesterday in intraday trading, wiped its loss out towards the daily close, and continued its rise with an above-average transaction volume. Our first price target for BTC is the previous peak level of $64.899.

RESISTANCES 63.512 / 64.681 / 66.462
SUPPORTS 60.562 / 58.781 / 57.612

BITCOIN [BTC] 359280.68 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24620.13 TRY

Ethereum gained a 2,45% value during morning hours, and the current price is $3840. Glassnode reported that Ethereum addresses with above 1 ETH had seen a significant rise. On Friday, October 15th, the number of addresses hit 1,341,789. This is the highest figure ever achieved. As the metric suggests, the interest of crypto investors in Ethereum continues.

When we consider the ETH/USDT pair technically, ETH, which broke the neckline in the head-and-shoulders pattern ($3685) on September 14, retested this level again yesterday. When we check the transaction volume in ETH, which is holding above this level with the support, it seems it remains below the average. ETH has not changed its pattern so far; our price expectation is $4600, the head-and-shoulders pattern target.

RESISTANCES 3912 / 4004 / 4120
SUPPORTS 3496 / 3588 / 3704

ETHEREUM [ETH] 24620.13 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.44 TRY

AVAX gained a 1,55% value during morning hours, and the current price is $56,38. When we consider the AVAX/USDT pair technically, AVAX, which has been continuing its price movement within the ascending channel as of August 18, is priced at levels very close to the channel sub-band. AVAX has a stagnated price movement along with a downward trend as of September 23. If it breaks the $58,19 level (50-MA) and the trend and closes the day above, it can rise to $80.

RESISTANCES 56,95 / 57,89 / 59,34
SUPPORTS 52,17 / 53,11 / 54,56

AVALANCHE [AVAX] 319.44 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.74 TRY

Ripple gained a 1,40% value during morning hours, and the current price is $1,0977. When we consider the XRP/USDT pair technically, XRP, which closed the day below the 50-MA of $1.0847, by the sales below the volume average yesterday, has started to price above it again as of this morning. A buy signal from MACD can disappear as of this morning, according to the daily chart. Although it is impossible to comment before the daily close, there is a recovery in short-term metrics. We do not expect sharp declines for XRP as long as its holds on to the 50-MA.

RESISTANCES 1,1108 / 1,1292 / 1,1519
SUPPORTS 1,0286 / 1,0470 / 1,0697

RIPPLE [XRP] 8.74 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.47 TRY

LTC gained a 2,91% value during morning hours, and the current price is $191. When we consider the LTC/USDT pair technically, LTC, which had been moving between 50-and 200-MA for a long time, broke the 200-MA level ($188,8) upwards as of this morning. MACD still gives a buy signal, and in the short metrics, there is no negative divergence. If LTC closes the day above 200-MA, it will sedate sales pressure and trigger a rise.

RESISTANCES 194,67 / 199,37 / 207,34
SUPPORTS 169,33 / 174,03 / 182,00

LITECOIN [LTC] 989.47 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 1,76% value during morning hours, and the current price is $26,20. When we consider the LINK/USDT pair technically, LINK dropped below the 50-MA level ($26,89), stochastic gives a sell signal in the daily chart. LINK, which retreated to $24,81 (Fibo'61,80) yesterday, started the day upward with support from this zone. LINK has had a sideways trend for a long time. The current sales pressure will not end as long as LINK does not break the $27,48 level (200-MA) upwards.

RESISTANCES 26,62 / 27,24 / 27,90
SUPPORTS 24,08 / 24,70 / 25,35

BASIC ATTENTION TOKEN [BAT] 5.63 TRY

BAT gained a 1,1% value during morning hours, and the current price is $0,6887. When we consider the BAT/USDT pair technically, BAT, which found support at $0.6762 (Fibo '50) yesterday, experienced a slight rise this morning. As of October 12, BAT found support at this Fibo'50 tranche, and it is vital to keep it. The daily chart showed MACD gave a sell signal in the candle close. However, if the $0.6762 level breaches, this may lead to another downward price movement.

RESISTANCES 0,6949 / 0,7042 / 0,7160
SUPPORTS 0,6527 / 0,6620 / 0,6738

BASIC ATTENTION TOKEN [BAT] 5.63 TRY +7.00 +0.03 VOL 21 BAT

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