Crypto Magazine

#BTC💰 We observe a very positive start of the week, after the recent decline the asset recovered quickly enough and is now trading around 63000. Locally I want to see a correction (test of support) at 61500 level. After that the continuation of upward movement, where the first target is 65000 (in the range of 65-66000 the accumulation of liquidations for the amount of 2 billion $) I also keep in my head an alternative plan with a decline to 59000, from where I will expect a continuation of the upward movement. Liquidation map, confirms local thoughts. We see liquidity accumulation up to 59000, but we also see large liquidation accumulation above, 2 bn at 65700 and 2 bn at 67300. I regard these as upside targets for the asset.

#ETH🔹 On the asset chart we can see signs of accumulation. We can also see the rapid recovery of the asset price, which leaves behind a large amount of liquidity in the form of liquidations. Just like on bitcoin, I expect to see a local correction after which the upward movement will continue, the targets of which will be: 1) 3060; 2) 3130; 3) 3230. Regarding the depth of the correction, I consider two options. 🔹In the first option, I expect to see a correction to 2930 and a reversal from it (I will watch the reaction at this level). 🔹In the second variant the correction is deeper, to 2850 (liquidity hike). The liquidation map shows a significant accumulation up to 2850. Above so there is liquidity behind the levels I marked as targets. So overall thoughts are confirmed.

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🪙 Uniswap Founder: Biden’s Election at Risk Due to Crypto Regulation Threat! Uniswap founder Hayden Adams has made a bold statement regarding the cryptocurrency market, emphasizing the widespread adoption of digital currencies among adults. This assertion underscores the increasing relevance and impact of cryptocurrencies in today’s financial landscape. As more individuals embrace digital assets as a viable investment option, the traditional financial sector faces mounting pressure to adapt to this shifting paradigm.

🇺🇸 DOJ Said to Snub Sullivan & Cromwell, Appoint Competitor to Coveted 🟠 Binance Monitorship: Bloomberg The Department of Justice (DOJ) has chosen a London-based consulting firm for a coveted three-year monitorship of Binance, according to a Friday report from Bloomberg citing anonymous sources. DOJ earlier this year, the crypto exchange agreed to pay $4.3 billion in fines and appoint an independent compliance monitor. The firm’s CEO and co-founder Changpeng “CZ” Zhao also agreed to step down as part of the agreement, and was sentenced to four months in prison.

📊 Dynamics of outflows/inflows to bitcoin spot ETFs

📊 AI-powered DeFi platform introduces token mints by placing orders Brightpool Finance focuses on reducing entry barriers and enhancing price stability in the DeFi space through AI-calculated trading rewards and price-freezing features. Bitcoin has enjoyed some chill time, it is still not at the level desired by investors who seek to avoid unpredictable prices. Moreover, low liquidity in the decentralized finance (DeFi) sector, which has a market capitalization under $100 billion compared to Bitcoin’s $1.2 trillion, further increases price volatility.

#BTC💰 The asset followed the second scenario, which I marked with a question mark, we saw a local decline and then a recovery. At this point, I expect to see the asset exit to 64000, and then dive with the aim of taking liquidity down to 60000, to the lower range level. On the liquidation map, we can see a small amount of liquidity just up to 64000, and a lot of liquidity at the bottom, which in turn confirms the local thoughts. I also want to remind you that today we have expiration of $1.15 billion in BTC options. And the zone of main interest is at $62,000. As the practice of the last four weeks shows, the zone of main interest is easily reached.

#ETH🔹 The asset continues to form sideways, and not so long ago we saw the price exit from the wedge upwards. And at the moment we see a squeeze to the middle level of the range. I expect to see an impulse price exit up to 3060-3080, after which the price will continue to move down to 2950-2900. On the liquidation map, we see minor liquidity accumulation on top, up to 3080. And more serious liquidity accumulation at the bottom down to 2950. Which also confirms my local thoughts on the asset. Just a reminder that today is the expiration date for ETH options totaling $839 million. And the zone of main interest in ETH = 3050$.

💰 Institutions Likely To Show Interest in Bitcoin DeFi Applications Bitcoin (BTC) is rapidly evolving. While the Bitcoin network has primarily been used for payment transactions, current activity appears to be resembling that of Ethereum during the height of decentralized application (Dapp) projects. The introduction of Bitcoin Runes and BRC-20 tokens – which emerged during the time of the fourth Bitcoin halving event – has likely sparked the evolution of Bitcoin-native decentralized finance (DeFi).