DAILY CRYPTOCURRENCY NEWS

Institutional Interest Shifts to Bitcoin

Cathie Wood, CEO of ARK Invest, said that large institutional investors are hastily switching their assets to Bitcoin. In a new interview with Barron's, Wood says that institutions are interested in Bitcoin due to the lack of correlation with other assets.

Bitcoin "Fear and Greed" Index Has Moved to Neutral Zone

Bitcoin fear and greed index, which is an indicator used to show whether social media users are generally optimistic or pessimistic about the short-term dynamics of Bitcoin showing signs of recovery.

CEO of Billion-Dollar Investment Firm Says Bitcoin and Ethereum Will Rise by More Than 1,600% in the Long Term

The CEO of an investment firm with billions of dollars in assets under his management predicts that the price of Bitcoin (BTC) will see seven-digit levels, and Ethereum (ETH) will see six-digit levels. Frank Holmes, President of US Global Investors, says that due to the scarcity and growing adoption of Bitcoin, the flagship cryptocurrency could gain about 1,600% in value from current levels in the next decade.

El Salvador To Issue $1BN Bitcoin Bonds To Build Bitcoin City

El Salvador President Nayib Bukele announced yesterday that he would issue a $1 billion "Bitcoin Bond" to build the first Bitcoin city in the world. The city will have no taxes other than VAT and will be carbon neutral as most of its energy comes from geothermal sources.

AVAX Breaks New Records

AVAX increased 46.9% in the last seven days. Avalanche is ranked among the top digital assets with a market capitalization of $31.5 billion. AVAX, which experienced a rapid rise on November 21, reached an all-time high of $147 per unit, an increase of 3.795% in the 12 months.


 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 357805.65 TRY

Bitcoin lost a 2,16% value during morning hours; the current price is $57.411. Cathie Wood, CEO of ARK Invest, said that large institutional investors are hastily switching their assets to Bitcoin. In a new interview with Barron's, Wood says that institutions are interested in Bitcoin due to the lack of correlation with other assets.

When we consider the BTC/USDT pair technically, Bitcoin continues to move within the ascending channel that exists as of July 20. BTC retested the resistance level of $60.000 (50MA), going up on Friday and Saturday. But it could not break this level up. Bitcoin retreats towards $56.425 (Fibo'61,80) after dropping back. Pullbacks may continue because the weekly candle close has not a positive outlook.

RESISTANCES 58.947 / 60.953 / 61.957
SUPPORTS 55.937 / 54.933 / 52.927

BITCOIN [BTC] 357805.65 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24744.25 TRY

Ethereum lost a 2,00% value during morning hours, and the current price is $4171. When we consider the ETH/USDT pair technically, ETH had risen to the $4450 level, wiped out its intraday gain on Saturday after the pullback throughout the market. ETH, which started the new week with a pullback, has found support at the 50MA level. ETH, which has a cup-and-handle pattern in the weekly chart, retested the $3980 level (upper line of the pattern). Even though the pullbacks are yet to come as of the new week, ETH has still positive outlook in the weekly chart and can rise towards the next pattern target ($6.000).

RESISTANCES 4329 / 4518 / 4613
SUPPORTS 3762 / 3951 / 4045

ETHEREUM [ETH] 24744.25 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 322.98 TRY

AVAX gained a 5,75% value during morning hours, and the current price is $136,19. AVAX increased 46.9% in the last seven days. Avalanche is ranked among the top digital assets with a market capitalization of $31.5 billion. AVAX, which experienced a rapid rise on November 21, reached an all-time high of $147 per unit, an increase of 3.795% in the 12 months.

When we consider the AVAX/USDT pair technically, AVAX, which stands out positively at weekend, profited above the market average. AVAX, which moves in the ascending channel as of August, reached the upper band level of $143 yesterday. Although the positive outlook continues in the daily chart, the pullback levels seem right for the profit realization.

RESISTANCES 142,81 / 155,52 / 164,05
SUPPORTS 100,33 / 113,04 / 121,57

AVALANCHE [AVAX] 322.98 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.30 TRY

Ripple lost a 1,75% value during morning hours, and the current price is $1,0352. When we consider the XRP/USDT pair technically, XRP, which moves in the ascending channel as of September 21, could rise to $1,016 (mid-range band) on Friday but not move forward. If XRP, which has retested the lower band again this morning, closes the day below this level, the pullbacks may deepen.

RESISTANCES 1,0710 / 1,1111 / 1,1335
SUPPORTS 0,9460 / 0,9861 / 1,0085

RIPPLE [XRP] 8.30 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 980.78 TRY

LTC lost a 2,65% value during morning hours; the current price is $215,7. When we consider the LTC/USDT pair technically, LTC, which continues to move within the ascending channel that exists as of July 21, retreated to the $201 level (50MA). Finding support from this level, LTC experienced a limited rise towards the mid-range band. MACD proceeds to give a sell signal in the daily chart. LTC can continue its short-term pullbacks.

RESISTANCES 224,77 / 237,97 / 245,06
SUPPORTS 184,19 / 197,39 / 204,48

LITECOIN [LTC] 980.78 TRY +7.00 +0.03 VOL 21 LTC

LINK lost a 5,30% value during morning hours, and the current price is $27,45. When we consider the LINK/USDT pair technically, LINK, which broke its uptrend on September 21, tested the trend and 50MA this weekend. LINK, which had a pullback along with the resistance this morning, negatively impacts the metrics in the daily chart. The 200-day moving average ($26,48) should be followed in the short term when retreating.

RESISTANCES 28,59 / 30,16 / 30,95
SUPPORTS 23,87 / 25,43 / 26,23

BASIC ATTENTION TOKEN [BAT] 5.56 TRY

BAT lost 4,10% value during morning hours, and the current price is $1,0298. When we consider the BAT/USDT pair technically, BAT broke uptrend on 30 October and tested this trend on Friday but could not break it upwards We expect BAT to retreat towards $0,9629 (Fibo'50), the important support level for BAT, which faced resistance this weekend after retesting.

RESISTANCES 1,1046 / 1,1914 / 1,2368
SUPPORTS 0,8402 / 0,9270 / 0,9724

BASIC ATTENTION TOKEN [BAT] 5.56 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, 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.