DAILY CRYPTOCURRENCY NEWS

Ethereum Miners Made More Profit Than Bitcoin Miners This Year

According to a report by Arcane Research, despite complaints about high gas fees, Ether miners earned more than $3 billion from their Bitcoin counterparts in 2021. "Ether miners made $17 billion in 2021, while Bitcoin miners made $13.6 billion."

Bitcoin Whale Addresses Hit Highest Number of the Year As BTC Rises

Bitcoin whales, defined as large investors holding more than 1000 BTC, continued to buy after the renewed rally of the cryptocurrency this year while fearing that the inflation would get out of control. According to Chainalysis' report, Bitcoin whales accumulated 142,000 BTC last week, bringing their total assets closer to 200,000 the highest amount ever seen this year.

El Salvador's Bukele Announces New Bitcoin Education Project

President Nayib Bukele announced this week that El Salvador would construct 20 “bitcoin schools” using a surplus from its bitcoin fund.

SEC Seeks Comment On Grayscale's GBTC ETF Proposal

The Securities and Exchange Commission (SEC) is taking a closer look at Grayscale's application to convert its Grayscale Bitcoin Fund (GBTC) into a spot bitcoin exchange-traded fund (ETF). On November 2, the SEC released a statement requesting comment on the rule change proposed by NYSE Arca.

Fed: Tapering Will Start This Month

The Federal Reserve will begin reducing its asset purchases from mid-November. At the same time, the central bank stated that it chose to keep interest rates where they are.

Eric Adams Wins NYC Mayoral Election

Democrat Eric Adams, who has said he plans to make New York a "Bitcoin Hub" if elected mayor, has won his race against Republican Curtis Sliwa.

US Congressmen Sent SEC Letter Advocating For Spot Bitcoin ETF
A letter has been sent to Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), written by two US Congressmen, Tom Emmer, and Darren Soto, advocating the approval of a spot Bitcoin exchange-traded fund.

Bitcoin Drops 4% in Fed's Taper Announcement

Bitcoin, the father of cryptocurrencies, fell by about 4% to $ 60,018 after the announcement that the US Federal Reserve will begin to "taper" in November.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359641.20 TRY

Bitcoin lost 0,40% value during morning hours; the current price is $62.695.Bitcoin whales, defined as large investors holding more than 1000 BTC, continued to buy after the renewed rally of the cryptocurrency this year while fearing that inflation would get out of control. According to Chainalysis' report, Bitcoin whales accumulated 142,000 BTC last week, bringing their total assets closer to 200,000, the highest amount ever seen this year.

When we consider the BTC/USDT pair technically, Bitcoin, which continues to move within the ascending channel that exists as of July 20, has had a sideways trend for a week. Although there were sharp intraday pullbacks due to FED tension yesterday, Bitcoin wiped out its intraday losses after finding support at $60.236 (Fibo'78,60). Although there's no buy signal from DEMA and MACD, Bitcoin metrics support the rising trend.

RESISTANCES 63.971 / 65.163 / 66.876
SUPPORTS 61.066 / 59.353 / 58.161

BITCOIN [BTC] 359641.20 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24655.69 TRY

Ethereum lost a 0,80% value during morning hours, and the current price is $4.574,50. According to a report by Arcane Research, despite complaints about high gas fees, Ether miners earned more than $3 billion from their Bitcoin counterparts in 2021. "Ether miners made $17 billion in 2021, while Bitcoin miners made $13.6 billion."

When we consider the ETH/USDT pair technically, ETH, which hit its new peak level of $4.665,87 yesterday, sets a journey to discover another peak. We think that the rises will continue towards  $6.000 level for ETH, which has a cup-and-handle pattern in the weekly chart. The short-term price target is $4.950 for ETH, which has a positive outlook on the metrics, and its medium-target level is $6000.

RESISTANCES 4684 / 4786 / 4903
SUPPORTS 4247 / 4349 / 4466

ETHEREUM [ETH] 24655.69 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 320.01 TRY

AVAX gained a 5,1% value during morning hours, and the current price is $79,70. When we consider the AVAX/USDT pair technically, AVAX, which broke the compression zone along with the above-volume transactions, as mentioned in the bulletin before, reached its target of $78,90 and refreshed its peak level. MACD proceeds to give a buy signal in the daily chart. We have entered the price discovery period for AVAX and we expect the rises to continue towards our next price target is $97.

RESISTANCES 84,84 / 89,19 / 97,46
SUPPORTS 59,60 / 63,95 / 72,22

AVALANCHE [AVAX] 320.01 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.77 TRY

Ripple gained a 2,0% value during morning hours, and the current price is $1,2178. When we consider the XRP/USDT pair technically, XRP broke the downward trend existing as of Oct. 10 and closed the day above this level. So XRP rose to our price target of $1,23, as it resolved sales pressure. Daily-metrics support the rise has not ended yet. Our another short-term price target is $1,41.

RESISTANCES 1,2795 / 1,3271 / 1,3961
SUPPORTS 1,0463 / 1,0939 / 1,1629

RIPPLE [XRP] 8.77 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 990.86 TRY

LTC lost a 1,5% value during morning hours; the current price is $204,2. When we consider the LTC/USDT pair technically, LTC, which moves in the ascending channel, broke the middle band of the channel ($206,5 level) and closed the day above this level. MACD gave a buy signal in the daily chart for LTC, which had retreated as of the candle opening. In our opinion, the uptrend has not yet ended, and it will continue towards $230-240, which coincides with the upper channel band of LTC.

RESISTANCES 210,92 / 217,26 / 224,76
SUPPORTS 183,24 / 189,58 / 197,08

LITECOIN [LTC] 990.86 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 0,95% value during morning hours, and the current price is $31,78. When we consider the LINK/USDT pair technically, LINK, which moves in the ascending channel as of September 21, closed the day above the middle band of the channel for the last 3 days. Investors evaluated the buying opportunity, and intraday losses have gone even if Fed tension affected the market with pullbacks. Our next price target for LINK, which retreated to $31,45 (middle band of the channel) this morning, and found support from the same level is $36,33 (upper band).

RESISTANCES 33,30 / 34,84 / 36,23
SUPPORTS 27,43 / 28,97 / 30,36

BASIC ATTENTION TOKEN [BAT] 5.66 TRY

BAT lost a 1,0% value during morning hours, and the current price is $0,9619. When we consider the BAT/USDT pair technically, BAT experienced a sharp price movement and a downward trend break. BAT had low volume and pullback, but now it could hold onto the $0,9643 (Fibo'50). If it closes the day below Fibo'50, it can retreat to $0,87.

RESISTANCES 1,0036 / 1,0418 / 1,0751
SUPPORTS 0,8606 / 0,8988 / 0,9321

BASIC ATTENTION TOKEN [BAT] 5.66 TRY +7.00 +0.03 VOL 21 BAT

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