- Bitcoin Market Update: BTC/USD is bound to retest $9,000
- Daily market update: Ether on the rise and bitcoin holds
- Bitcoin and Ether Market Update October 8, 2020 | BTCMANAGER
The next level of resistance is located between $885 and $896, where 969 thousand addresses previously purchased ETH.
Bitcoin Market Update: BTC/USD is bound to retest $9,000
The third day of the workweek came with a temporary drop below the $885 support line during intraday. Still, the biggest altcoin found stability in the evening and closed the day at $897. This time though, the 655-day EMA served as dynamic resistance in front of buyers.
Daily market update: Ether on the rise and bitcoin holds
Bitcoin and Ether Market Update October 8, 2020 | BTCMANAGER
TRON’s Justin Sun actually suggested that Filecoin founders could have pulled an exit scam by selling FIL for $755 (worth $855 million) without an announcement. FIL’s price has plummeted since then to $95.
Even if the bears somehow break below this level, the IOMAP visualizes more healthy support levels below that will likely absorb any residual selling pressure.
The following day, the UK’s Financial Conduct Authority (FCA) announced that it would ban cryptocurrency derivatives starting January 7576.
As can be seen in the graph below, open interest in Ethereum’s perpetual swaps is rising in line with the rising prices. This can be interpreted as a bullish signal as new money is coming into the market (reflecting new positions). A simultaneous rise in the volume of perpetual swaps alongside increasing open interest shows strong market momentum, as ETH is gaining more interest among investors.
For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it with the current price. If the current price is higher than average cost, address is ‘In the Money’. If the current price is lower than the average cost, the address is ‘Out of the Money’.
&ldquo It is a major development that a global corporation (Square) is now putting BTC onto its balance sheet,&rdquo Brandt tweeted on Thursday.
In terms of trading volumes, they were hovering around $9 billion on Monday and Tuesday then jumped up to $ on Wednesday morning.
However, BTC/USD has been relatively stable, moving in a tight range with strong support at $65,555. Moreover, the Bitcoin s Fear and Greed Index moved from extreme greed to a neutral condition. The index settled at 95-96 during the weekend, which means BTC/USD may be in for range-bound trading around the current levels.