Crypto Update

Crypto Today: Bitcoin, Ethereum and XRP consolidate as SUI continues impressive run. • Bitcoin is consolidating around the $63,600 level following mild profit-taking from holders. • Ethereum bounced off the $2,595 support, and XRP is moving horizontally around $0.589. • SUI has given investors a monthly gain of 65% after seeing key updates within its ecosystem. Bitcoin, Ethereum and XRP updates Bitcoin traded around $63,600 on Tuesday, as prices appear to be consolidating within the $62,000 and $64,700 key levels. On-chain data shows that the consolidation may be due to profit-taking by holders and mild Bitcoin ETF net inflows of $4.5 million, per Farside Investors data. Ethereum is trading within key rectangle channels and tested the $2,595 support before bouncing toward the $2,630 level. If the support level continues to hold, ETH could rally to test the resistance at $2,817. Additionally, Ethereum ETFs posted heavy net outflows of $79.3 million on Monday — their highest since July. XRP is consolidating around the $0.589 level at press time, following a similar weak performance across the crypto market. XRP could see increased bullish momentum if it reclaims the $0.600 psychological level. Market movers Bitcoin and the general crypto market remained fairly muted following People's Bank of China (PBoC) Governor Pan Gongsheng's announcement that China will reduce its reserve requirements ratio (RRR) by 50 basis points (bps). RRR is a portion of deposits that a commercial bank must hold in its reserve instead of lending or investing all its assets. A reduction in the RRR is used to stimulate the economy, meaning investors have access to more loans, and banks could make more investments. While Chinese stocks rallied after the announcement, the price of Bitcoin and altcoins showed no response, unlike the crypto market rally that followed the US Federal Reserve's (Fed) decision to cut interest rates by 50 bps. The reaction underscores Bitcoin and crypto's rising correlation to Fed rates and US stocks. However, with central banks worldwide gradually easing economic policies and a historically positive Q4 for crypto, the market may continue its impressive rise in the coming weeks. According to Coinglass data, Bitcoin and Ethereum have given investors an average Q4 return of 88.84% and 23.29%. Bitcoin & Ethereum Quarterly Returns Furthermore, following transparency concerns about BlackRock's decision to reduce on-chain withdrawal time for its Bitcoin ETF and not publicly displaying its balance on-chain, Bloomberg analyst Eric Balchunas stated that the asset manager aims to avoid spam.  "They will show this [balance] to institutional clients upon request but not gonna publish to the world because they get plenty of spam already (e.g. sanctioned bitcoin, NFTs) and this would only cause an explosion in said spam," said Balchunas. Meanwhile, the crypto-based prediction marketplace Polymarket seeks $50 million in a fresh funding round and is considering launching a token. SUI/USDT 4-hour chart SUI is one of the best performers in the top 100 on a monthly time frame, rising more than 65%. The Layer 1 token is up nearly 7% in the past 24 hours, breaking above a key rectangle's resistance and stretching its weekly gains to 44%. The key drivers of SUI's impressive run include: • Rising user activity within its DeFi ecosystem as total value locked nears the $1 billion mark. • Launching the Mysticeti that allegedly reduces consensus to 390 millisecond. • The opening of Grayscale's SUI Trust to accredited investors.

Spot Bitcoin ETFs accumulate $390.7m over four days, Ethereum ETFs see rebound Spot Bitcoin exchange-traded funds in the U.S. recorded a significant jump in net inflows on Sept. 24, while spot Ether ETFs reversed course, moving back into net positive flows

JUST IN: 🇺🇸 SEC Commissioner Hester Peirce says they're allowing regulated financial institutions to bypass SEC rule, which will allow them to custody Bitcoin & crypto. @cryptoopdate

Bitcoin miner from 2009 sends BTC to Kraken A Bitcoin whale that mined in 2009 and holds over $77 million BTC in their wallet has moved 5 BTC to Kraken after being dormant for 10 years

#Doge Testing Key Resistance While Rsi Printed Bullish Divergence Expecting Move Towards 0.30$ Incase Of Successful Breakout

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🧑‍⚖️Ripple lawsuit: Pro-crypto attorney says there was intentional misconduct by SEC lawyers. 🚨• Ripple lawsuit may have ended, the XRP community continues to digest the developments with pro-crypto attorney John Deaton.  📯 • Deaton says there was intentional misconduct by SEC lawyers and people should be fired for it.  📈 • XRP erases 1% value on Sunday, trades above $0.58.  Ripple (XRP) lawsuit ended with a ruling that was considered a partial victory for both parties, the Securities & Exchange Commission (SEC) and the payment remittance firm. The XRP holder community is digesting the final ruling with pro-crypto attorney John Deaton.  Ripple lawsuit had intentional misconduct by SEC lawyers  Ripple lawsuit outcome was $125 million settlement imposed on the payment remittance firm. The firm asked for a temporary stay on the financial part of the ruling and since then there has been no appeal from the US financial regulator’s side.  Pro-crypto attorney John Deaton said in a YouTube video that he believes there was intentional misconduct by SEC lawyers. Deaton says people should be fired because of the blatant misconduct in the Ripple vs. SEC lawsuit.  The statements come at a time when XRP community speculates whether there will be an appeal from the regulator. This is key to XRP holders since an appeal could make or break the legal clarity of the altcoin.  XRP is considered “not a security” in secondary market transactions. This could change, meaning XRP’s legal status as a security could change if SEC appeals the ruling by Judge Analisa Torres.  In the final ruling, Judge Torres upheld the XRP ruling from July 2023.  XRP trades at $0.5833 at the time of writing, down 2% on the day. 

XRP gives back 1% on Friday, Ripple executive waves off SEC scrutiny Ripple (XRP) trades at $0.5800 early on Friday. Ripple Chief Legal Officer (CLO) Stuart Alderoty traded barbs on the recent lawsuit and Securities & Exchange Commission (SEC) Chair Gary Gensler’s role in crypto..

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⚠️ Crypto Today: Bitcoin, Ethereum, XRP retreat as traders brace for Fed rate decision. 💢 Bitcoin and Ethereum hover close to psychologically important price levels ahead of the Federal Reserve interest-rate decision.  📛 XRP loses nearly 3% as trader sentiment towards risk assets reverts to fear.  🔆 BNB chain partners with Binance and other cryptocurrency exchanges to offer free stablecoin transfers and boost adoption.  Bitcoin, Ethereum and XRP updates 🏆 Bitcoin (BTC) and Ethereum (ETH) trade close to key support levels hours ahead of the Federal Open Market Committee (FOMC) decision on interest rates on Wednesday.  ♻️ The Crypto Fear & Greed Index, a tracker that measures the sentiment of market participants on a scale of 0 to 100, under five labels extreme fear, fear, neutral, greed and extreme greed, flashes “fear (45).” On Tuesday, the index read fear at 33. This signals that crypto traders get increasingly nervous ahead of the key Fed decision later today. 

XRP eyes comeback above $0.60 as pro-crypto attorney criticizes SEC for small investors’ losses Ripple (XRP) holds steady above $0.5800, an important support level for the asset.

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JUST IN: 🇭🇰 Singapore's largest bank, DBS, to launch Bitcoin and Ethereum options trading. @cryptoopdate

Ripple, Hedera and Aptos team up to form the MiCA Crypto Alliance The MiCA Crypto Alliance launched today with key blockchain players Ripple, Hedera, and Aptos Foundation joining as founding members

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