DAILY CRYPTOCURRENCY NEWS

Google Partners with Digital Asset Company Bakkt to Promote Crypto Payment

Digital asset company Bakkt announced a partnership with technology giant Google on Friday. This project aims to "expand the reach and availability of digital assets to meet the rapidly evolving consumer demand and preferences.” The partnership will introduce digital assets to millions of consumers.

Powerbridge Technologies Will Launch Bitcoin and Ethereum Mining in Hong Kong

Powercrypto Holdings, a subsidiary of blockchain software provider Powerbridge Technologies, is launching cryptocurrency mining in Hong Kong, mainly Bitcoin (BTC) and Ethereum (ETH).

US Senator Lummis Buys More Bitcoin, Sees BTC as 'Excellent Store of Value'

U.S. Senator Cynthia Lummis has disclosed her Bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees Bitcoin as an “excellent store of value” that should be in every investment portfolio.

Ethereum Developers Propose to Postpone Difficulty Bomb Until May 2022

Ethereum's difficulty bomb is expected to usher in a new era for the digital asset. Ethereum developers Tim Beiko and James Hancock have published a proposal for EIP-4345 on postponing the Ethereum difficulty bomb until May 2022.

Institutions Say They Want DeFi

Bank of America, arguably one of the most conservative financial institutions in the world, continues to make statements about their interest in DeFi from institutional investors, saying that “the digital asset sector is too big to ignore”.

Bitcoin Reserves Have Fallen to the Lowest Level Since October 2017

Bitcoin (BTC) spot reserves in exchanges have been falling since the bullish market started back in March 2020. The level of BTC held on the stock exchanges reached the same level as in October 2017.

JPMorgan: Institutions Preferring Bitcoin Over Gold Helped BTC's Market Cap Surpass $1T

JPMorgan has shared a note with clients suggesting that Bitcoin’s recent price rise that saw its total market capitalization surpass the $1 trillion mark was predominantly driven by institutional investors looking for a hedge against inflation and choosing BTC over gold.

The US SEC Has Approved an ETF That Monitors the Performance of Companies Investing in Bitcoin

Just four months after the application, Volt Equity's Volt Bitcoin Revolution ETF received the green light from the US Securities and Exchange Commission. It will present investors option to invest in companies that have invested in BTC, such as MicroStrategy.

BlockFi Jumps Into Bitcoin ETF Race

Cryptocurrency lending platform BlockFi has filed with the U.S. Securities and Exchange Commission to launch a futures-based Bitcoin exchange-traded fund (ETF) in the U.S.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 350845.56 TRY

Bitcoin gained a 3,50% value during morning hours; the current price is $56.561. October continues with positivity for Bitcoin. Expectations for the approval of Bitcoin ETFs have increased even more after the approval of an ETF application from the SEC that follows companies investing in Bitcoin has been received. BlockFi has applied to the SEC to launch a Bitcoin ETF. JPMorgan shared a post stating that institutional investors prefer Bitcoin over gold to protect against inflation. The first Bitcoin ETF approval is expected on October 18 to arrive among the expectations.

When we consider the BTC/USDT parity in technical terms, after sharp price movement, Bitcoin closed the day with 0,50% lost value. Along with the candlestick open time of today, BTC experienced sharp rises and had an above transaction volume in the 4-hour. In the daily chart, we see the metrics signal insisting on a rise. The price target is still $58,355 for BTC, as we mentioned in the bulletin.

RESISTANCES 57.347 / 58.234 / 59.698
SUPPORTS 54.996 / 53.532 / 52.645

BITCOIN [BTC] 350845.56 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24291.29 TRY

Ethereum gained a 3,30% value during morning hours, and the current price is $3527,86. BTC performs better than altcoins, looking back at the price movements of the weekend. However, ETH lost 5,60% value against Bitcoin in the last two days.

When we considered the ETH/USDT parity in technical terms, ETH reached the price target of $3670, as we mentioned in Friday's bulletin, and faced resistance at the same level. Alongside the candlestick open time of today, ETH retreated over to $3350 (50-day moving average). ETH found support from this level, trying to wipe out any loss experienced yesterday. If it closes the day above $3350, that will trigger an upward price movement. On the other hand, the $3351 level is equivalent to the 50-day moving average, and the Fibo'78.60 tranche is an important support level.

RESISTANCES 3617 / 3723 / 3843
SUPPORTS 3165 / 3271 / 3391

ETHEREUM [ETH] 24291.29 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.27 TRY

AVAX gained a 2,70% value during morning hours, and the current price is $57,67. When we consider the AVAX/USDT parity in technical terms, having broken the lower band of the ascending channel as of Sept. 13, AVAX can retreat to the $50-day moving average, as we mentioned last week bulletins. AVAX, which closed the day right below the $56,58 level (50-day moving average) yesterday, is priced above this level. If AVAX holds on to the 50-day moving average in the daily chart, it can move upwards. Our next support point is $50,7 (Fibo'50) if AVAX retreats deeply.

RESISTANCES 60,84 / 63,63 / 66,36
SUPPORTS 49,80 / 52,59 / 55,32

AVALANCHE [AVAX] 317.27 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.20 TRY

Ripple gained a 2,50% value during morning hours, and the current price is $1,1640. When we consider the XRP/USDT parity in technical terms, XRP broke the $1,093 (the 50-day moving average) level upwards, along with the above-average trading volume on Saturday, and closed the day above this level. In the daily chart, MACD gives a buy signal. We expect XRP rise will continue towards the level of $1,41. On the other hand, the $1,093 level, equivalent to the 50-day moving average, is key when retreating.

RESISTANCES 1,2144 / 1,2730 / 1,3166
SUPPORTS 1,0100 / 1,0686 / 1,1122

RIPPLE [XRP] 8.20 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 963.48 TRY

LTC gained a 3,70% value during morning hours, and the current price is $181,4. When we consider the LTC/USDT parity in technical terms, LTC, which retreated to the level of $174.9 (50-day moving average) alongside the drops of yesterday, is seen as having found support near this level. MACD still gives a buy signal in the daily chart, but LTC had lost the upward direction and now shows a sideways trend above the 50-day moving average. The upward break of the 200-day moving average ($189.3) is important for the rise in LTC.

RESISTANCES 185,23 / 189,74 / 196,11
SUPPORTS 163,47 / 167,98 / 174,35

LITECOIN [LTC] 963.48 TRY +7.00 +0.03 VOL 21 LTC

LINK gained a 3,00% value during morning hours, and the current price is $26,35. When we consider the LINK/USDT parity in technical terms, LINK broke its 50-day moving average upward on Saturday and broke this level downward again yesterday. Along with the candlestick open time of today, the price movement of LINK directed upwards. There are still two important resistance points at the 50 and 200-day moving average ahead. Although it seems that the MACD continues to give a buy signal in the daily chart, there is a peak formation in the metrics. Due to the inability to break the moving averages, LINK still maintains its horizontal price movement, but in order to find a new demand, LINK can retreat.

RESISTANCES 27,35 / 28,41 / 29,44
SUPPORTS 23,18 / 24,24 / 25,26

BASIC ATTENTION TOKEN [BAT] 5.49 TRY

BAT gained a 1,40% value during morning hours, and the current price is $0,7298. When we consider the BAT/USDT parity in technical terms, having risen to $0,76 (50-day moving average) at the weekend, BAT wiped the rise out, dropping 6% yesterday. BAT, which retreated to $0,70-0,72, is priced upward as of this morning. By surpassing the 50-day moving average, BAT might resolve sales pressure and rise towards the $1 level, which is the former peak level. When retreating, the $0,854 level (Fibo'50 tranche) should be followed.

RESISTANCES 0,7510 / 0,7754 / 0,7986
SUPPORTS 0,6558 / 0,6802 / 0,7034

BASIC ATTENTION TOKEN [BAT] 5.49 TRY +7.00 +0.03 VOL 21 BAT

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