Weekly CryptoNews

Weekly CryptoNews

Kevin Davitt, the analyst at CBOE: "Perhaps we are witnessing the maturation of a market. It's far too early to declare this the "new normal" but the persistent range over the last few weeks may be hinting at a structural shift. Time will tell."

After reaching its September highs last week, Bitcoin is trading in a range-bound market between the resistance at $6,595 and the support at $6,485. The digital currency keeps losing its volatility, as trading cryptocurrencies becomes less chaotic and more professional. Even the news factor did not affect the price for Bitcoin as it used to last year. Thus, the latest speculations around Tether failed to create a long-term market activity. Some analysts even compare the volatility of Bitcoin price to shares of some large corporations, showing how little they change. At the moment, the digital currency is trading near the 50-day MA at $6,522. Unexpected positive events on the market can force the price to rise above the resistance at $6,595 to the next resistance at $6,629. In case of negative factors, the price can fall below $6,485 to the next support at $6419.


In other news:

Tether destroyed 500 million of USDT tokens, still, more than 600 million coins remain outside the market for now. The capitalization of Tether fell below 2 billion dollars for the first time since January.


  • Coinbase got a license from the state of New-York to provide custodian services for saving cryptocurrencies.
  • Finance services agency in Japan gave an association of domestic crypto trading platforms official rights for regulating the crypto market.
  • Chinese authorities are going to tighten the Blockchain start-up regulations.

New releases:

  • Sony developed a remote crypto wallet that is not needed to be plugged into the PC through the USB. Moreover, Blockchain and Ledger companies presented their co-developed digital wallet Lockbox.
  • VanEck announced it destroyed all the possible reasons of a Bitcoin exchange-traded fund (ETF) rejection by the US Security exchange commission. A highly anticipated decision will be made on November 5.
  • The Novatti Group will use Stellar blockchain for launching stablecoin backed by the Australian dollar.
  • Bakkt announced a start of the trades of Bitcoin futures, however, we need to wait for the regulator's approval.

Bitcoin $6,566.8(+0.40%)

DASH $155.05 (-0.55%)

Ethereum $206.75 (+1.19%)

Litecoin: $51.88 (+0.62%)


CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?

Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!

Latest news

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

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