DAILY CRYPTOCURRENCY NEWS

Futures-based Bitcoin ETF Has '75% Chance of Approval' in October

In comments this week, Eric Balchunas, the senior ETF analyst for Bloomberg, said that United States Bitcoin futures ETFs were “likely on schedule” for the regulatory green light.

IMF Warns of New Financial Stability Situations From Sharp Rises of Cryptocurrency

International Monetary Fund (IMF) warns that the growing popularity of cryptocurrencies poses new challenges for financial stability. "Crypto can reduce the ability of central banks to implement monetary policy effectively. At the same time, it can create financial stability risks.”

Grayscale's Most Preferred Crypto Investment Product Is Not Bitcoin Trust for the First Time

A new study reveals that institutional investors have switched from Grayscale's Bitcoin Trust to another crypto trading asset. According to the CryptoCompare report, Grayscale Ethereum Trust saw more daily trading volumes than GBTC for the first time in history in September.

SEC Extends Time for Reviewing Four Bitcoin ETF Proposals

Securities and Exchange Commission extended the deadlines of four Bitcoin ETF. The Commission stated the need for additional time to “take action on the proposed rule change.” Cryptocurrency advocates remain hopeful about the approval of a U.S. Bitcoin ETF in the near future.

The SEC Wants Ripple to Provide Records Related to Current Legal Disputes

Attorney James Filan, the founder of Connecticut-based Filan LLC, announced on Twitter that the U.S. Security and Exchange Commission has requested a conference and Ripple to share all audio and video recordings of its previous meetings.

France's Third Largest Bank Societe Generale Has Proposed to Use DeFi Protocol Makerdao

The French multinational investment bank and financial services company Societe Generale has proposed to take advantage of the decentralized finance (DeFi) protocol Makerdao. The proposal named “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and it aims to utilize the DAI stablecoin to refinance a covered bond concept.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359237.76 TRY

Bitcoin lost a 1,15% value during morning hours; the current price is $47.653. In comments this week, Eric Balchunas, the senior ETF analyst for Bloomberg, said that United States Bitcoin futures ETFs were “likely on schedule” for the regulatory green light. The news is positive in the statement that says Bitcoin ETF Has '75% Chance of Approval in October.

When we consider the BTC/USDT parity in technical terms, BTC broke the downside trend that existed as of September 7, rising 10 percent amidst the above transaction volume on Friday. As we mentioned in Friday's bulletin, we expected that there would be an acceleration in the upward direction with this break. The 200-day ($45050) and the 50-day moving average ($46667) broke upward with the sharp rise alongside the trend break. In the daily chart, MACD gives a buy signal. It can retreat to the 50-day moving average in the short term.

RESISTANCES 48.924 / 50.098 / 50.930
SUPPORTS 46.918 / 46.086 / 44.912

BITCOIN [BTC] 359237.76 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24623.91 TRY

During morning hours, Ethereum lost a 2,00% value, and the current price is $3348,22. A new study reveals that institutional investors have switched from Grayscale's Bitcoin Trust to another crypto trading asset. According to the CryptoCompare report, Grayscale Ethereum Trust saw more daily trading volumes than GBTC for the first time in history in September. That will affect ETH positively.

When we consider ETH/USDT parity in technical terms, having sharply risen and profited over 10 percent last Friday, ETH broke the downward  trend ($3260) and 50-day moving average ($3291) and closed the day above these levels. However, in the 4-hour chart, amid a negative divergence approved by metrics, ETH retreats. It can retreat to the 50-day moving average ($3297) in the short term.

RESISTANCES 3457 / 3553 / 3620
SUPPORTS 3133 / 3228 / 3295

ETHEREUM [ETH] 24623.91 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.48 TRY

AVAX lost a 2,15% value during morning hours, and the current price is $66,86. When we consider the AVAX/USDT parity in technical terms, AVAX moves in the ascending channel as of Sept. 13. AVAX has broken the lower band ($68) of the channel downwards in the morning. In the 4-hour chart, AVAX has a sell signal, and the first support level is $62-63.

RESISTANCES 70,60 / 74,38 / 77,14
SUPPORTS 57,52 / 61,30 / 64,06

AVALANCHE [AVAX] 319.48 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.80 TRY

Ripple lost a 2,50% value during morning hours, and the current price is $1,0282. When we consider the XRP/USDT parity in technical terms, having gone up with the downtrend break as of Sept. 10, XRP reached the price target of $1,045 we mentioned in last Friday's bulletin. Although stochastic gives a buy signal in the daily chart, there is a bottom pattern in the overbought zone. Therefore, the resistance level of $1,05 is important for the upward trend endurance. When retreating, the psychological support level of $1 is significant.

RESISTANCES 1,0750 / 1,1168 / 1,1447
SUPPORTS 0,9356 / 0,9774 / 1,0053

RIPPLE [XRP] 8.80 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 989.56 TRY

LTC lost a 3,00% value during morning hours; the current price is $166,0. When we consider the LTC/USDT parity in technical terms, LTC, which broke its downward trend on September 6 as of September 30 in an upward direction, rose sharply after this break. It is rising until the 50-day moving average ($175). If LTC closes the day above the 50-day moving average, the next price target will be $189 (200-day moving average).

RESISTANCES 172,95 / 179,45 / 183,92
SUPPORTS 151,01 / 157,51 / 161,98

LITECOIN [LTC] 989.56 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 4,05% value during morning hours, and the current price is $26,51. When we consider LINK/USDT parity in technical terms, having recently stagnated between Fibo'61,80 and Fibo'50 tranches, LINK broke $25 upwards. LINK rose to the $27,62 (200-day moving average) at weekend, breaking the downward trend that existed as of Sept. 6. In the daily chart, MACD continues to give a buy signal. We expect LINK to resolve sales pressure and continue to rise when the resistance level at the 200-day moving average breaks upwards, even if it might carry on retreating in the short term.

RESISTANCES 27,77 / 29,00 / 29,86
SUPPORTS 23,60 / 24,83 / 25,69

BASIC ATTENTION TOKEN [BAT] 5.65 TRY

BAT lost a 3,95% value during morning hours; and the current price is $0,7045. When we consider the BAT/USDT parity in technical terms, BAT has risen to the $0,7428 level (Fibo'61,80), alongside the break of the downward trend. Along with the resistance at this level, BAT retests the support level of $0.70-0.72. In the daily chart, there is an ongoing buy signal. In case BAT does not break the support level upwards, the next price target is $0,84.

RESISTANCES 0,7316 / 0,7589 / 0,7779
SUPPORTS 0,6390 / 0,6663 / 0,6853

BASIC ATTENTION TOKEN [BAT] 5.65 TRY +7.00 +0.03 VOL 21 BAT

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