DAILY CRYPTOCURRENCY NEWS

Workshop on The Search for Regulation in Crypto Assets

While explaining the potential areas and challenges of regulation at the Workshop on The Search for Regulation in Crypto Assets, the Vice President of revenue administration, who spoke at the workshop, stated that taxation must be defined first and that no retrospective tax can be charged.


France, Singapore Experiment with Digital Currency Using Onyx
Central banks in France and Singapore experimented with digital currency using JPMorgan's blockchain platform Onyx.

Lawmaker in Kyrgyzstan Introduces Bill for Cryptocurrency Exchanges
Kyrgyzstan's lawmaker has introduced a bill for the formal recognition of cryptocurrency exchanges in order to attract foreign investors and address legal uncertainty.

N26 to Trade Bitcoin
N26, a Digital Bank based in Germany, will provide in-app features for buying and selling Bitcoin to its 7 million customers.

Special Team for Crypto Assets from Bank of America
Bank of America has formed a new team to explore crypto assets after investors' growing interest in digital assets.

New Conditions May Come from the European Union to Crypto Asset Service Providers
To prevent money laundering, the European Union may introduce new requirements for crypto asset service providers to collect and make accessible data on transfers of these assets.

11% of Central Bankers See Bitcoin as An Alternative to Gold
A UBS survey found that central bankers see investing in cryptocurrencies such as Bitcoin as an opportunity. 28% see the benefits of cryptocurrency as a non-correlated entity, and 11% see Bitcoin as an alternative to gold.
 

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 351849.85 TRY

Bitcoin, which is moving horizontally in the morning, is priced at $32,914. Following the FUD news from China yesterday, it caused a general retreat in the market, especially Bitcoin. Although the decline remained relatively weak compared to previous FUD news, we saw a Bitcoin movement that declined to $32,000. When we look at the chain data, the 1 percent decrease in the number of new addresses in the last 24 hours indicates that new investors have decreased in bitcoin, but it is not unsettling. In addition, when we analyze net inflows/outflows on exchanges, net BTC output of $119 million can be interpreted as positive. In the short term, uncertainty remains. 

When we consider btc/USDT parity technically, we see that BTC tested below the downgrading trend from May 10, but was priced above it as of morning hours. The closest resistance levels for BTC, which clings to monthly DEMA but cannot break the two-week DEMA level upwards, will be the band of $33,212-33,500. With these levels breaking upwards, the move towards Fibo's correction level of $34,838 can be achieved. If the downward trajectory continues, we expect monthly DEMA ($32,400) levels to work as support. In the short term, buying near support and selling near resistance will be a healthier strategy.

RESISTANCES 33.680 / 34.300 / 35.080
SUPPORTS 32.280 / 31.500 / 30.880

BITCOIN [BTC] 351849.85 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24465.66 TRY

Ethereum, which rose 1 percent in the morning, is priced at $2135. When we examine the chain data of Ethereum, there is a net Ethereum outflow of $1.1 billion from the exchanges on July 8. We interpret positively that investors are transferring ethereums to their wallets in order to keep their hands on them, rather than transferring them to exchanges to sell with yesterday's decline.

When we consider the ETH/USDT parity technically, we see a slight recovery today after yesterday's fall. If the upward movement continues, with the nearest support level being $2097, we expect the $2225 levels to operate as the closest resistance level. If support at the 2097 level is lost, there may be a retreat towards the 1987 level. In the short term, purchases from support relatives and sales near resistance may be appropriate.

RESISTANCES 2238 / 2339 / 2433
SUPPORTS 1847 / 1949 / 2043

ETHEREUM [ETH] 24465.66 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 318.60 TRY

The AVAX gained about 1.5 percent to $12.25 in the morning. When we consider the AVAX/USDT parity in a technical sense, the price movement continues within the existing rising channel as of June 22nd. AVAX, which continued its downward movement with the downward break of the $12.7 level, which coincided with the channel mid-band and the 30-day moving average yesterday, found support from the $11.6-$11.75 band. Retreats towards $11.5, which corresponds to the channel sub-band, are expected for AVAX, whose upward movements are limited. If the channel sub-band breaks downwards, the $10.67 level is read as the next level of support.

RESISTANCES 12,74 / 13,13 / 13,68
SUPPORTS 10,87 / 11,26 / 11,81

AVALANCHE [AVAX] 318.60 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.16 TRY

Ripple, which is horizontal in the morning, is priced at $0.618. On July 8, the SEC received a letter opposing Ripple's request for a former SEC employee to testify. Ripple has previously claimed that the former SEC employee made comments about Ethereum that he shared with the public through SEC approval. In response, the SEC said it allowed them to speak Ethereum, but said those statements were entirely former SEC employee Hinman's own opinion. In addition, the SEC, which based the entire letter on assumptions, hypothesed Hinman's testimony, claiming it would be a waste of time. The SEC's move was interpreted by many as inadequate. If a decision is issued by Judge Netburn in favor of Ripple, namely the testimony of the former SEC employee, the price may be positive. However, due to the market retreat at the moment, we are also seeing a pullback on the Ripple side.

When the XRP/USDT pair was technically taken into account, it held above the weekly DEMA ($0.594) level. If the price continues to move upwards, the nearest resistance level is $0.64, and we expect the $0.60 levels to work as support for downward movements. In the short term, buying near support and selling near resistance would be a more appropriate strategy.

RESISTANCES 0,6420 / 0,6645 / 0,6889
SUPPORTS 0,5482 / 0,5707 / 0,5951

RIPPLE [XRP] 8.16 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 965.61 TRY

Litecoin, which is horizontal in the morning, is priced at $131. When we analyze chain data for Litecoin, it is positive that there was a slight increase in the number of new addresses yesterday, but if the market's flagship Bitcoin continues to decline, movements towards buying in altcoins will be likely to be limited. 

When we consider ltc/USDT parity technically, we see that it creates a descending channel that has been going on since July 4 in the 4-hour period and that it is moving back towards the channel middle band in the morning by testing the bottom band of this channel during the night hours. We expect the $132-$133 levels, which correspond to the channel mid band, to work as resistance if the price moves upwards, with the nearest support level for LTC priced at $131 being $129. MACD maintains its signal for sale.

RESISTANCES 135,05 / 138,76 / 142,78
SUPPORTS 119,59 / 123,30 / 127,32

LITECOIN [LTC] 965.61 TRY +7.00 +0.03 VOL 21 LTC

LINK, which lost 0.55 percent in the morning, is priced at $18.27. When we examine LINK chain data, we see that the number of active and new addresses has decreased in recent days and investors' interest in LINK has decreased. 

When we consider link/USDT parity technically, we expect LINK, which opens daily below the weekly DEMA ($18.71) level, to operate as the closest support level of $17.68 if the downward movement continues. An upward break of $18.71 would be critical if there was an overall recovery in the market. If the $18.71 levels break upwards, we can watch a re-move towards $20.00. RSI is at 42.30, just above the support at 41. Short-term buy-to-let strategy may be healthier as there is no definitive direction in the market yet.

RESISTANCES 19,20 / 20,14 / 20,94
SUPPORTS 15,74 / 16,68 / 17,47

BASIC ATTENTION TOKEN [BAT] 5.48 TRY

BAT lost about 2.5 percent in the morning to $0.554. When we consider BAT/USDT parity in technical terms, BAT, which broke the rising minor trend as of June 22nd downwards, rejected this trend from below and continued the falling price movement. In BAT, which found support from the region close to $0.55, Fibo'38.20, this support was limited. When we examine it in a 4-hour period, it remains in the stockastic oversold zone, but it remains a sell signal. If Fibo'38.20 slice breaks down again, we expect fibo to find support at $0.523, which corresponds to the Fibo'50 slice.

RESISTANCES 0,5881 / 0,6204 / 0,6446
SUPPORTS 0,4751 / 0,5074 / 0,5316

BASIC ATTENTION TOKEN [BAT] 5.48 TRY +7.00 +0.03 VOL 21 BAT

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