The Crypto Daily – Movers and Shakers – September 25th, 2021

Bitcoin, BTC to USD, slid by 4.54% on Friday. Reversing a 3.01% gain from Thursday, Bitcoin ended the day at $42,856.0.

A mixed start to the day saw Bitcoin rise to a mid-morning intraday high $45,164.5 before hitting reverse.

Falling short of the first major resistance level at $45,555, Bitcoin slid to a late morning intraday low $40,755.0.

Bitcoin fell through the first major support level at $43,658 and the second major support level at $42,431.

More significantly Bitcoin also fell through the 38.2% FIB of $41,592 before briefly revisiting $43,200 levels.

Bitcoin broke back through the 38.2% FIB and the second major support level to end the day at $42,800 levels.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Chainlink and Bitcoin Cash SV slid by 8.64% and by 8.55% respectively to lead the way down.

Binance Coin (-7.40%), Crypto.com Coin (-6.30%), Ethereum (-7.10%), Litecoin (-7.10%), and Ripple’s XRP (-5.82%) also struggled.

Cardano’s ADA (-2.10%) and Polkadot (-3.41%) saw relatively modest losses, however.

In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn. At the time of writing, the total market cap stood at $1,941bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Friday low 40.99%. At the time of writing, Bitcoin’s dominance stood at 41.50%.

This Morning

At the time of writing, Bitcoin was down by 0.05% to $42,834.0. A mixed start to the day saw Bitcoin fall to an early morning low $42,652.0 before rising to a high $42,986.8.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bullish start to the day.

At the time of writing, Polkadot was up by 3.70% to lead the way.

BTCUSD 250921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $42,925 pivot to bring the first major resistance level at $45,095 into play.

Support from the broader market would be needed for Bitcoin to break back through to $45,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $45,164.5 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $48,000 levels before any pullback. The second major resistance level sits at $47,335.

Failure to move back through the $42,925 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $40,686 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $38,516.

Chinese Crackdown on Bitcoin Another Blow to Cathie Wood’s ARK ETF

Wood, who has said that bitcoin will rally to $500,000, has slightly more than $1 billion invested in cryptocurrency trading firm Coinbase Global Inc, a position that makes up approximately 4.7% of her $21.7 billion fund. Shares of Coinbase fell more than 1.5% on Friday after Chinese regulators announced a blanket ban on all crypto transactions and mining.

China’s move triggered a selloff in bitcoin, taking the value of the world’s largest cryptocurrency down more than 5% to approximately $42,475.

ARK Innovation was down 1.4% in midday trading on Friday.

The declines come as several of Wood’s top holdings this year are floundering during a market rally that has pushed up the benchmark S&P 500 more than 18% for the year to date.

While shares of Tesla Inc, Wood’s top holding, are up 8% for the year, large positions in companies including Teladoc Health Inc and Zoom Video Communications Inc are down 20% or more over the same time amid a shift away from the stay-at-home technology stocks that dominated during the COVID-19 lockdowns of 2020.

ARK Invest did not respond to a request for comment on this story.

Overall, the ARK Innovation Fund is down 4.4% for the year to date, putting it in the bottom 100th percentile among the 595 other U.S. mid-cap growth funds, according to Morningstar.

Over the last five years, however, the fund is up an annualized 42.3% a year, placing it among the top 1 percentile in its category.

That strong long-term performance is likely what is keeping retail investors from selling their stake in the fund this year despite its poor showing, said Todd Rosenbluth, director of fund research at CFRA.

“ARKK is down for the year and has significantly lagged behind index-based growth ETFs yet most investors have remained loyal, likely due to fond memories of prior periods of relatively strong performance,” he said. “But as the recent period of underperformance persists it is harder to justify not considering alternatives.”

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by David Randall in New York; Additional reporting by Saqib Iqbal Ahmed in New York; Editing by Ira Iosebashvili and Matthew Lewis)

The Crypto Daily – Movers and Shakers – September 24th, 2021

Bitcoin, BTC to USD, rose by 3.01% on Thursday. Following a 6.94% rally on Wednesday, Bitcoin ended the day at $44,884.7.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $43,102.0 before making a move.

Steering clear of the 38.2% FIB of $41,592 and the first major support level at $41,450, Bitcoin rallied to a late intraday high $45,000.0.

Bitcoin broke through the first major resistance level at $44,849 to end the day at $44,880 levels.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Bitcoin Cash SV (-0.93%) and Ripple’s XRP (-0.24%) bucked the trend on the day.

It was a bullish day for the rest of the majors.

Chainlink rose by 4.12% to lead the way, with Cardano’s ADA (+3.07%), Ethereum (+2.48%), and Polkadot (+2.65%) close behind.

Binance Coin (+1.25%), Crypto.com Coin (+0.55%), and Litecoin (+1.53%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn. At the time of writing, the total market cap stood at $2,043bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Thursday low 41.07%. At the time of writing, Bitcoin’s dominance stood at 41.46%.

This Morning

At the time of writing, Bitcoin was up by 0.21% to $44,978.9. A mixed start to the day saw Bitcoin fall to an early morning low $44,738.0 before rising to a high $44,993.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin led the way, rising by 2.39%, with Litecoin up by 1.10%.

Binance Coin (+0.37%), Bitcoin Cash SV (+0.12%), and Cardano’s ADA (+0.51%) also found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Polkadot was down by 0.47% to lead the way down.

BTCUSD 240921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $44,329 pivot to bring the first major resistance level at $45,555 into play.

Support from the broader market would be needed for Bitcoin to break back through to $45,500 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $48,000 levels before any pullback. The second major resistance level sits at $46,227.

A fall through the $44,329 pivot would bring the first major support level at $43,658 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$43,000 levels. The second major support level sits at $42,431.

The Crypto Daily – Movers and Shakers – September 23rd, 2021

Bitcoin, BTC to USD, rose by 6.94% on Wednesday. Reversing a 5.29% loss from Tuesday, Bitcoin ended the day at $43,574.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $40,601.0 before making a move.

Steering clear of the first major support level at $39,076, Bitcoin rallied to a late afternoon intraday high $44,000.0.

Bitcoin broke through the 38.2% FIB of $41,592 and the first major resistance level at $43,023 to end the day at $43,500 levels.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Crypto.com Coin fell by 1.04% to buck the trend.

It was a bullish day for the rest of the majors.

Ripple’s XRP surged by 14.84% to lead the way, with Cardano’s ADA (+13.88%), Chainlink (+14.06%), Ethereum (+11.31%), and Polkadot (+11.98%) close behind.

Binance Coin (+10.16%), Bitcoin Cash SV (+6.08%), and Litecoin (+8.69%) also found strong support, however.

Early in the week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn. At the time of writing, the total market cap stood at $1,968bn.

Bitcoin’s dominance rose to a Monday high 43.00% before falling to a Tuesday low 41.22%. At the time of writing, Bitcoin’s dominance stood at 41.46%.

This Morning

At the time of writing, Bitcoin was down by 0.61% to $43,308.0. A mixed start to the day saw Bitcoin rise to an early morning high $43,857.9 before falling to a low $43,302.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 1.14% to buck the early trend.

It was a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was down by 1.28% to lead the way down.

BTCUSD 230921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $42,725 pivot to bring the first major resistance level at $44,849 into play.

Support from the broader market would be needed for Bitcoin to break back through to $44,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $45,000 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $48,000 levels before any pullback. The second major resistance level sits at $46,124.

A fall through the $42,725 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,450 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000 levels. The second major support level sits at $39,326.

The Crypto Daily – Movers and Shakers – September 22nd, 2021

Bitcoin, BTC to USD, fell by 5.29% on Tuesday. Following an 8.93% slide on Monday, Bitcoin ended the day at $40,748.0.

A bearish start to the day saw Bitcoin slide to an early morning low $40,255.0.

Bitcoin fell through the 38.2% FIB of $41,592 and the first major support level at $41,286.

Finding early support, Bitcoin rose to a late morning intraday high $43,625.0 before hitting reverse.

Falling well short of the first major resistance level at $46,046, however, Bitcoin tumbled to a late intraday low $39,678.0.

Bitcoin fell back through the 38.2% FIB of $41,592 and the first major support level at $41,286.

Avoiding the second major support level at $39,546, however, Bitcoin ended the day at $40,700 levels.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash SV rose by 3.08% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Chainlink slid by 9.10% to lead the way down, with Ethereum (-7.08%) also struggling.

Binance Coin (-5.47%), Cardano’s ADA (-4.64%), Crypto.com Coin (-1.15%), Litecoin (-5.50%), Polkadot (-1.53%), and Ripple’s XRP (-5.22%) saw relatively modest losses, however.

Early in the week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,743bn. At the time of writing, the total market cap stood at $1,824bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Tuesday low 41.37%. At the time of writing, Bitcoin’s dominance stood at 42.36%.

This Morning

At the time of writing, Bitcoin was up by 0.95% to $41,134.0. A mixed start to the day saw Bitcoin fall to an early morning low $40,636.0 before rising to a high $41,494.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was down by 7.46% to buck the early trend.

It was a bullish start for the rest of the majors, however.

At the time of writing, Cardano’s ADA was up by 1.74% to lead the way.

BTCUSD 220921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $41,350 pivot the 38.2% FIB of $41,592 to bring the first major resistance level at $43,023 into play.

Support from the broader market would be needed for Bitcoin to break back through to $43,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $43,625.0 would likely cap the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at $45,000 levels before any pullback. The second major resistance level sits at $45,297.

Failure to move through the $41,350 pivot and the 38.2% FIB of $41,592 would bring the first major support level at $39,076 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $37,403.

Bitcoin Price Prediction – Bulls Need to Revisit $45,000 to Avoid another Sell-off and sub-$40,000

After Monday’s broad-based crypto sell-off, it’s been a particularly choppy morning.

At the time of writing, Bitcoin, BTC to USD, was up by 0.19% to $43,106.0.

A choppy start to the day saw Bitcoin slid to an early morning intraday low $40,255.0 before finding support.

Bitcoin fell through the 38.2% FIB of $41,592 and the first major support level at $41,286.

Steering clear of sub-$40,000 levels, however, Bitcoin rose to a late morning intraday high $43,444.0.

While breaking back through the first major support level and the 38.2% FIB, Bitcoin fell short of the major resistance levels.

BTCUSD 210921 Hourly Chart

The Rest of the Pack

It has also been a mixed morning for the broader crypto market.

Through the morning, Crypto.com Coin was down by 2.50% to buck the morning trend.

While choppy, it’s been a relatively bullish morning for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 9.87% to lead the way, with Polkadot rising by 4.54%.

Binance Coin (+1.87%), Cardano’s ADA (+1.89%), Chainlink (+1.06%), Ethereum (+2.50%), Litecoin (+1.94%), and Ripple’s XRP (+2.47%) trailed the front runners, however.

Through the early hours, the crypto total market cap fell to an early morning low $1,803bn before rising to a high $1,959bn. At the time of writing, the total market cap stood at $1,940bn.

Bitcoin’s dominance rose to an early morning high 42.40% before falling to a low 41.74%. At the time of writing, Bitcoin’s dominance stood at 41.87%.

For the Afternoon Ahead

Bitcoin would need to move through the $44,306 pivot to bring the first major resistance level at $46,046 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $45,000 levels.

Barring a broad-based crypto rebound, resistance at $45,000 would likely leave Bitcoin short of the first major resistance level.

In the event of an extended rally through the afternoon, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,066.

Failure to move through the $44,306 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,286 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$40,000 support levels. The second major support level sits at $39,546.

Looking beyond the support and resistance levels, we saw the 50 EMA pullback from the 100 and the 200 EMAs through the morning.

We also saw the 100 EMA pullback from the 200 EMA, also a bearish signal.

Through the 2nd half of the day, a flattening of the 50 EMA on the 100 and 200 EMAs would provide much-needed support.

Key through the late morning and early afternoon Bitcoin would be to move through the day’s pivot to $45,000 levels, however, to support the broader market.

The Crypto Daily – Movers and Shakers – September 21st, 2021

Bitcoin, BTC to USD, slid by 8.93% on Monday. Following a 2.24% decline on Sunday, Bitcoin ended the day at $43,025.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $47,327.0 before hitting reverse.

Falling short of the first major resistance level at $48,127, Bitcoin tumbled to a midday intraday low $42,567.0.

Bitcoin fell through the day’s major support levels before briefly revising $44,000 levels.

Coming up against the third major support level at $44,416, however, Bitcoin slid back to end the day at sub-$44,000 levels.

The near-term bullish trend remained intact, in spite of the latest return to $42,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Monday.

Chainlink slumped by 13.82% to lead the way down, with Bitcoin Cash SV (-12.60%) and Ripple’s XRP (-12.16%) close behind.

Things were not much better for Binance Coin (-10.91%), Cardano’s ADA (-8.87%), Crypto.com Coin (-10.28%), Ethereum (-10.58%), Litecoin (-10.55%), and Polkadot (-8.15%).

Early in the week, the crypto total market rose to a Monday high $2,122bn before sliding to a Tuesday low $1,863bn. At the time of writing, the total market cap stood at $1,870bn.

Bitcoin’s dominance fell to a Monday low 41.89% before rising to a Monday high 42.76%. At the time of writing, Bitcoin’s dominance stood at 42.38%.

This Morning

At the time of writing, Bitcoin was down by 2.51% to $41,943.0. A bearish start to the day saw Bitcoin fall from an early morning high $43,028.0 to a low $41,935.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 4.89% to lead the way down.

BTCUSD 210921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $44,306 pivot to bring the first major resistance level at $46,046 into play.

Support from the broader market would be needed for Bitcoin to break out from $45,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $47,000 would likely cap the upside.

In the event of a broad-based crypto rebound, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,066.

Failure to move through the $44,306 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,286 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000 levels. The second major support level sits at $39,546.

Coinbase Scraps Plans for Crypto Lending Program

The move comes days after U.S. regulators said it would sue Coinbase if it went ahead with its program allowing users to earn interest by lending digital assets.

“As we continue our work to seek regulatory clarity for the crypto industry as a whole, we’ve made the difficult decision not to launch the USDC APY program,” Coinbase’s blog post said.

USDC is a stablecoin that is pegged to the U.S. dollar and can be redeemed for $1 on a one-to-one basis.

The crypto exchange also said it has discontinued the waitlist for its USDC APY (annual percentage yield) program, a high-yield alternative to traditional savings accounts that would have paid lenders of USDC to Coinbase a 4% APY.

Coinbase, which said it has seen a rise in crypto interest account in recent times, had been planning to offer a principal guarantee to lenders of USDC in their Coinbase account.

It added that a 4% APY on USDC would provide a customer eight times the national average on high-yield savings accounts, based on a Bankrate.com survey of U.S. savings accounts in June 2021.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber)

The Crypto Daily – Movers and Shakers – September 20th, 2021

Bitcoin, BTC to USD, fell by 2.24% on Sunday. Reversing a 2.14% gain from Saturday, Bitcoin ended the week up by 2.61% to $47,239.0.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $48,370.3 before hitting reverse.

Falling short of the first major resistance level at $49,063, Bitcoin slid to a late intraday low $46,837.0.

Bitcoin fell through the first major support level at $47,310 to end the day at sub-$47,300 levels. Finding late support, Bitcoin moved back through to $47,200 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Sunday.

Cardano’s ADA (-3.76%), Chainlink (-3.70%), and Litecoin (-3.10%) led the way down, with Crypto.com Coin (-2.29%), Ethereum (-3.13%) and Ripple’s XRP (-2.58%) also struggling.

Binance Coin (-0.58%), Bitcoin Cash SV (-1.58%), and Polkadot (-0.79%) saw modest losses, however.

It was a mixed week ending 19th September for the majors.

Crypto.com Coin bucked the trend, rising by 2.81%.

It was a bearish week for the rest of the major, however.

Cardano’s ADA slid by 11.58% to lead the way down, with Chainlink (-6.99%), Polkadot (-7.88%), and Ripple’s XRP (-6.41%) also struggling.

Binance Coin (-1.90%), Bitcoin Cash SV (-0.24%), Ethereum (-2.21%), and Litecoin (-3.94%) saw relatively modest losses, however.

In the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,111bn.

Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 42.02%.

This Morning

At the time of writing, Bitcoin was down by 0.29% to $47,100.3. A mixed start to the day saw Bitcoin rise to an early morning high $47,327.0 before falling to a low $47,076.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.34% to lead the way down.

BTCUSD 200921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $47,482 pivot to bring the first major resistance level at $48,127 into play.

Support from the broader market would be needed for Bitcoin to break out from $47,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $48,370.3 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,015.

Failure to move through the $47,482 pivot would bring the first major support level at $46,594 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$45,500 levels. The second major support level at $45,949 should limit the downside.

The Crypto Daily – Movers and Shakers – September 19th, 2021

Bitcoin, BTC to USD, rose by 2.14% on Saturday. Reversing a 1.02% loss from Friday, Bitcoin ended the day at $48,308.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $47,066.0 before making a move.

Steering clear of the first major support level at $46,650, Bitcoin rallied to a mid-morning intraday high $48,819.0.

Bitcoin broke through the first major resistance level at $48,062.

Coming up against the second major resistance level at $48,829, however, Bitcoin fell back to sub-$48,000 before finding late support.

Late in the day, Bitcoin broke back through the first major resistance level to wrap up the day at $48,300 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Crypto.com Coin fell by 0.03% to buck the trend.

It was a bullish day for the rest of the majors, however.

Polkadot rallied by 3.41% to lead the way, with Chainlink (+2.58%) also finding strong support.

Binance Coin (+1.07%), Bitcoin Cash SV (+0.40%), Cardano’s ADA (+0.97%), Ethereum (+1.07%), Litecoin (+0.77%), and Ripple’s XRP (+0.84%) saw modest gains, however.

In the current the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,176bn.

Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 41.77%.

This Morning

At the time of writing, Bitcoin was up by 0.01% to $48,314.0. A mixed start to the day saw Bitcoin fall to an early morning low $48,251.0 before rising to a high $48,370.3.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.57%) joined Bitcoin in the green to buck the broader trend.

It was a bearish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was down by 1.12% to lead the way down.

BTCUSD 190921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $48,064 pivot to bring the first major resistance level at $49,063 into play.

Support from the broader market would be needed for Bitcoin to break back through to $49,000 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,817.

A fall through the $47,064 pivot would bring the first major support level at $47,310 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level at $46,311 should limit the downside.

The Crypto Daily – Movers and Shakers – September 18th, 2021

Bitcoin, BTC to USD, fell by 1.02% on Friday. Following a 0.74% decline on Thursday, Bitcoin ended the day at $47,296.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $48,183.0 before hitting reverse.

Falling short of the first major resistance level at $48,521, Bitcoin slid to a late intraday low $46,771.0.

Bitcoin fell through the first major support level at $47,052 before a partially recovery to $47,200 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Bitcoin Cash SV and Crypto.com Coin rose by 0.28% and by 0.37% respectively to buck the trend.

It was a bearish day for the rest of the majors, however.

Chainlink and Polkadot led the way down, with losses of 7.19% and 6.13% respectively.

Binance Coin (-4.20%), Cardano’s ADA (-2.85%), Ethereum (-4.73%), Litecoin (-2.88%), and Ripple’s XRP (-2.35%) also struggled.

In the current the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,126bn.

Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 41.89%.

This Morning

At the time of writing, Bitcoin was down by 0.05% to $47,271.0. A mixed start to the day saw Bitcoin rise to an early morning high $47,366.0 before falling to a low $47,241.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.40% to lead the way down.

BTCUSD 180921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $47,417 pivot to bring the first major resistance level at $48,062 into play.

Support from the broader market would be needed for Bitcoin to break back through to $48,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $48,183 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $49,000 levels before any pullback. The second major resistance level sits at $48,829.

Failure to move through the $47,417 pivot would bring the first major support level at $46,650 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level at $46,005 should limit the downside.

Its Revolut’s Time For Adoption As It Pays For Its WeWork Office Space In Bitcoin

Bitcoin has gained massive adoption from corporate entities over the past few years, and this time, it is UK-based fintech firm Revolut that is using BTC to pay for an office space.

Revolut Pays For An Office Space In Bitcoin

Revolut, one of the leading fintech companies in the United Kingdom, has decided to pay for its largest office space in Bitcoin. The company rented the office space in the United States and has paid WeWork the rent in BTC.

WeWork announced that the challenger bank rented its new U.S.-based office in Dallas, Texas, and it is set to host 300 people. According to WeWork, Revolut is its first enterprise member to rent a new space using cryptocurrency.

 

Revolut stated that it paid for the office space in Bitcoin to showcase its growing belief in cryptocurrencies as a method of payment. Paying with Bitcoin and other cryptocurrencies eliminates the need to use intermediaries for its transactions. As such, the move has saved the company from costly international remittance fees.

The Adoption Of Bitcoin Is Growing

Revolut’s payment in BTC doesn’t come as a surprise, as WeWork announced earlier this year that it has started accepting payments in cryptocurrencies. WeWork partnered with crypto payment processor BitPay to provide the payment options to its clients.

The British fintech’s partnership with WeWork will also allow its offices in Berlin, Dallas, Dublin, Melbourne, Moscow, Singapore, and New York to be redesigned as flexible workspaces.

BTC/USD chart. Source: FXEMPIRE

The leading cryptocurrency has been struggling to top the $50k level in recent weeks. BTC is down by roughly 1% today and is trading just above the $47k at the moment. The broader crypto market is also in a bearish run at the moment, and more losses could be recorded during the weekend.

Bitcoin Price Prediction – Bulls Struggle to Recapture $48,500 as the Bears Eye sub-$46,000

After a bearish Thursday for Bitcoin and the broader market, it’s been a mixed morning.

At the time of writing, Bitcoin, BTC to USD, was down by 1.06% to $47,277.0.

A choppy start to the day saw Bitcoin rise to a mid-morning high $48,183.0 before hitting reverse.

Falling short of the first major resistance level at $48,521, Bitcoin slid to a late morning intraday low $47,275.0.

In spite of the pullback, Bitcoin steered clear of the first major support level at $47,052.

BTCUSD 170921 Hourly Chart

The Rest of the Pack

It has been a mixed morning for the broader crypto market.

Through the morning, Crypto.com Coin bucked the trend, rising by 0.37%.

For the rest of the majors, it’s been a bearish morning.

Chainlink was down by 5.38% to lead the way down.

Binance Coin (-3.94%), Ethereum (+3.47%), and Polkadot (-4.72%) also saw deep red.

Bitcoin Cash SV (-0.21%), Cardano’s ADA (-2.23%), Litecoin (-2.51%) and Ripple’s XRP (-2.86%) also joined Bitcoin in the red, however.

Through the early hours, the crypto total market cap rose to an early morning high $2,188bn before falling to a low $2,117bn. At the time of writing, the total market cap stood at $2,121bn.

Bitcoin’s dominance fell to an early morning low 41.34% before rising to a late morning high 42.04%. At the time of writing, Bitcoin’s dominance stood at 41.96%.

For the Afternoon Ahead

Bitcoin would need to move back through the $47,791 pivot to bring the first major resistance level at $48,521 back into play.

Support from the broader market will be needed, however, for Bitcoin to breakout from the morning high $48,183.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $49,000 would likely pin Bitcoin back.

In the event of an extended rally through the afternoon, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,260.

Failure to move back through the $47,791 pivot would bring the first major support level at $47,052 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$46,000. The second major support level at $46,322 should limit the downside.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and 200 EMAs through the late morning.

We saw the 100 EMA widen from the 200 EMA, however, providing support.

Through the 2nd half of the day, a widening of the 50 EMA from the 100 and 200 EMAs would bring $50,000 levels.

Key through the late morning and early afternoon would be to move back through the day’s $47,791 pivot and revisit $48,500 levels.

El Salvador Bonds Tumble as Investors Eye Bitcoin Use, IMF Talks

S&P Global said risks associated with the country’s adoption of bitcoin as parallel legal tender to the U.S. dollar “seem to outweigh its potential benefits” and there are “immediate negative implications for credit.”

S&P also said the use of bitcoin threatens a potential deal between El Salvador and the IMF.

Government bond spreads to comparable U.S. Treasuries rose to 986 basis points on Thursday, surpassing the previous record high spread hit in May 2020.

Bonds prices are near the lows hit last October, before rallying to record highs in mid April.

“These new price lows may encourage capitulation from core long positions that are forced to reassess their overweight positions without an IMF anchor,” Siobhan Morden, head of Latin America fixed income strategy at Amherst Pierpont Securities, said in a client note.

“The economic agenda remains subordinated to the political agenda with no clear framework on budgetary financing, no apparent commitment to fiscal discipline and a political agenda that remains a drag on investment and growth.”

Thousands of Salvadorans marched on Wednesday to protest a perceived power grab by President Nayib Bukele, who is otherwise popular with the public. Bitcoin policy was also a target of the protest, and an ATM where the cryptocurrency can be exchanged for dollars was vandalized.

The swift firing of judges on the constitutional panel of the Supreme Court in May and the recent court ruling that the president can serve two consecutive terms, opening the door for Bukele to stand for re-election in 2024, have soured his relationship with the United States.

U.S. votes carry the largest weight for any decision regarding loans at the IMF.

The potential for an IMF program for El Salvador is “under discussion,” Fund spokesman Gerry Rice said in a news briefing earlier on Thursday, adding that anti-corruption measures and fiscal responsibility are high on the agenda.

The Fund did not immediately respond to a request for comment regarding S&P’s statement on risks to a potential deal.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Rodrigo Campos; Additional reporting by Nelson Rentería and Marc Jones; Editing by Paul Simao)

The Crypto Daily – Movers and Shakers – September 16th, 2021

Bitcoin, BTC to USD, rose by 2.13% on Wednesday. Following a 4.88% rally on Tuesday, Bitcoin ended the day at $48,137.0.

A mixed start to the day saw Bitcoin fall to a mid-morning intraday low $46,724.0 before making a move.

Steering clear of the first major support level at $45,488, Bitcoin rallied to a late intraday high $48,444.0.

Bitcoin broke through the first major resistance level at $48,027 to end the day at $48,100 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Polkadot slid by 4.49%, with Chainlink (-0.28%) also bucking the trend on the day.

It was a bullish day for the rest of the majors, however.

Ethereum rallied by 5.22% to lead the way, with Binance Coin (+4.06%) and Cardano’s ADA (+4.51%) also finding strong support.

Bitcoin Cash SV (+1.78%), Crypto.com Coin (+3.48%), Litecoin (+3.34%), and Ripple’s XRP (+2.24%) trailed the front runners, however.

In the current the week, the crypto total market fell to a Monday low $1,958bn before rising to a Wednesday high $2,236bn. At the time of writing, the total market cap stood at $2,204bn.

Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Wednesday high 41.91%. At the time of writing, Bitcoin’s dominance stood at 41.13%.

This Morning

At the time of writing, Bitcoin was up by 0.10% to $48,186.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,188.9 before falling to a low $48,041.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (-0.46%), Ethereum (-0.17%), and Litecoin (-0.10%) saw red early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Polkadot was up by 1.08% to lead the way.

BTCUSD 160921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $47,768 pivot to bring the first major resistance level at $48,813 into play.

Support from the broader market would be needed for Bitcoin to break out from $48,500 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $49,000 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,488.

A fall through the $47,768 pivot would bring the first major support level at $47,093 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$47,000 levels. The second major support level sits at $46,048.

Solana Mainnet Finally Back Online After Nearly A Day In The Dark

The Solana network is finally online 24 hours after going dark, with the engineers working overtime to ensure everything worked as expected.

Solana’s Network Went Dark Yesterday

The Solana blockchain went offline yesterday, affecting the activities of thousands of people on the network. The transactions of thousands of people on the network were paused as the blockchain experienced its first major outage since its mainnet event.

However, the network engineers got to work immediately to restore normal activities on the blockchain. One developer on the Solana discord server revealed that the network is now back online after spending nearly 24 hours in the dark.

The network was restored in the early hours of Wednesday, with Solana users now relieved that they could continue their activities without any hitch. The Solana network validators also came back online and are already approving transactions on the blockchain.

However, the service remains spotty right after the patch. According to a Twitter account operated by the Solana Foundation, the developers need to do more work to ensure the network operates smoothly.

 

Solana is one of the leading projects in the cryptocurrency space. The availability of smart contract features means that it is expected to provide stiff competition to the likes of Ethereum, Cardano and the Binance Smart Chain (BSC).

Solana Is Trading Below $160

Solana has been one of the top-performing cryptocurrencies in recent weeks. However, it has underperformed over the past few days, with yesterday’s network outage contributing further to its downward movement.

SOL/USD chart. Source: FXEMPIRE

SOL is down by 1% over the past 24 hours and is trading at $158 per coin. In the past three months, Solana’s price has surged by 302%. Solana’s strong performance comes despite the broader cryptocurrency market recording losses.

SOL reached a new all-time high above $200 earlier this month. Market analysts are expecting it to reach $400-$500 before the end of the year.

How Litecoin Pumped And Dumped After The Fake Walmart News

Litecoin’s price pumped yesterday following fake news of its partnership with Walmart but the coin dumped as soon as people realized it was not real.

Walmart Denies Partnership With The Litecoin Foundation

Yesterday, the cryptocurrency space encountered another adoption news. This time, it was between the Litecoin Foundation and US retail giant Walmart. According to the press release, Walmart had partnered with the Litecoin Foundation to enable cryptocurrency payments via its e-commerce store.

The press release stated that Walmart would start accepting LTC as a means of payment for the goods available on its e-commerce platform. However, the partnership news turned out to be fake, and it was debunked by Walmart.

The leading retailer in the United States issued a press release, stating that the news from GlobeNewswire was fake and Walmart doesn’t have any partnership with the Litecoin Foundation to adopt the Litecoin cryptocurrency.

GlobeNewswire also came out to retract the news, stating that it was false and people shouldn’t regard it. “Please be advised that journalists and other readers should disregard the news release, “Walmart Announces Major Partnership With Litecoin (LTC),” issued September 13, 2021, over GlobeNewswire,” the notice reads.

Litecoin Pumps And Dumps

The announcement of a partnership between the Litecoin Foundation and Walmart saw the LTC coin surge by more than 30% yesterday. LTC’s price rose from $175 to reach $225 within the space of minutes.

LTC/USD chart. Source: FXEMPIRE

The cryptocurrency has underperformed in recent months, losing its place amongst the top ten cryptos by market cap. Litecoin has been replaced in the top ten list by other cryptocurrencies, including Solana, Polkadot, and Dogecoin.

However, with Walmart coming out to deny the news of the partnership, Litecoin’s price reversed back to its previous levels. The pumping and dumping happened within the space of a few hours. At the moment, LTC is up by roughly 4% in the past 24 hours and is now trading at $179 per coin.

ECB’s Weidmann Wants Digital Euro to Start Small

“A gradual approach might make sense given the risks involved – that means a digital euro with a specific set of features and the option to add further functionalities later,” Weidmann told a conference.

The ECB gave the digital euro a green light earlier this summer but the actual launch of the currency could still be around five years away.

Among his key concerns, Weidmann argued that in times of crisis, consumers could rush to convert their bank deposits to central bank money, destabilising the financial system as they withdraw a key source of funding.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)

 

Interactive Brokers Launches Cryptocurrency Trading

U.S. clients of the brokerage will now be able to trade and custody bitcoin, ethereum, litecoin and bitcoin cash alongside stocks, options, futures, bonds, mutual funds and exchange-traded funds, the company said.

“As financial markets evolve, sophisticated individual and institutional investors are increasingly seeking out allocations to digital currencies as a means of achieving their financial objectives,” said Chief Executive Officer Milan Galik.

Chairman Thomas Peterffy said in June that Interactive Brokers, which caters to active traders and sophisticated investors, would launch trading in cryptocurrencies by the end of the summer as the nascent asset class becomes more mainstream.

Other brokers, including Robinhood Markets Inc and TradeStation also provide cryptocurrency trading, while Charles Schwab Corp and Fidelity currently offer access to bitcoin futures.

Crypto-trading commissions at Interactive Brokers will be 0.12% to 0.18% of trade value, depending on monthly volume, with no added spreads, markups, or custody fees, the New York-based company said.

Interactive Brokers said it partnered with Paxos Trust Company, a regulated provider of cryptocurrency services that also works with companies like PayPal on digital asset trading, to enable the new service.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by John McCrank; Editing by Marguerita Choy)

 

The Crypto Daily – Movers and Shakers – September 13th, 2021

Bitcoin, BTC to USD, rose by 1.92% on Sunday. Following a 0.57% gain on Saturday, Bitcoin ended the week down by 11.09% to $46,038.9.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $44,774.2 before making a move.

Steering clear of the first major support level at $44,575, Bitcoin rallied to a late intraday high $46,466.0.

Bitcoin broke through the first major resistance level at $45,815 to end the day at $46,000 levels.

The near-term bullish trend remained intact, in spite of the latest return to $43,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Cardano’s ADA slid by 2.11%, with Bitcoin Cash SV (-0.13%) also seeing red to buck the trend.

It was a bullish day for the rest of the majors, however.

Polkadot rallied by 11.27% to lead the way, with  Chainlink (+9.03%) close behind.

Binance Coin (+2.86%), Crypto.com Coin (+3.50%), Ethereum (+4.19%), Litecoin (+2.45%), and Ripple’s XRP (+3.93%) also made solid gains.

It was also mixed week for the crypto majors, however.

Polkadot rallied by 16.91%, with Crypto.com Coin (+1.18%) also bucking the trend in the week.

It was a bearish week for the rest of the majors, however.

Litecoin slid by 21.24% to lead the way, with Binance Coin (-17.52%) and Bitcoin Cash SV (-18.68%) close behind

Cardano’s ADA (-11.37%), Chainlink (-12.51%), Ethereum (-13.88%), and Ripple’s XRP (-14.31%) also struggled, however.

In the week, the crypto total market rose to a Tuesday high $2,438bn before tumbling to a Tuesday low $1,835bn. At the time of writing, the total market cap stood at $2,134bn.

Bitcoin’s dominance rose to a Tuesday high 43.64% before falling to a Friday low 39.92%. At the time of writing, Bitcoin’s dominance stood at 40.65%.

This Morning

At the time of writing, Bitcoin was up by 0.15% to $46,107.0. A mixed start to the day saw Bitcoin fall to an early morning low $46,003.4 before rising to a high $46,269.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.82%), Cardano’s ADA (-0.53%), and Ripple’s XRP (-0.23%) saw red to buck the early trend.

It was a bullish start for the rest of the majors, however.

At the time of writing, Polkadot was up by 2.94% to lead the way.

BTCUSD 130921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $45,760 pivot to bring the first major resistance level at $46,745 into play.

Support from the broader market would be needed for Bitcoin to break out from $46,500 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $47,000 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $48,000 before any pullback. The second major resistance level sits at $47,452.

A fall through the $45,760 pivot would bring the first major support level at $45,053 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$44,000. The second major support level at $44,068 should limit the downside.