Two major positive factors in the cryptocurrency market in November 1. Trump is likely to be elected in the US presidential election on November 5 2. The Federal Reserve will cut interest rates by 25 basis points at the interest rate meeting on November 7 Therefore, from the second half of October to November, Bitcoin will definitely usher in a surge. More than 50,000 can be bought in batches $BTC spot
If Vitalik wins the Nobel Prize, will Ethereum (ETH) reach $10,000?
Ethereum’s price has fallen nearly 7% since its high on October 7 and is currently hovering around $2,388. This downward trend is in line with Bitcoin’s 2% drop in the past 24 hours. Although Ethereum (ETH) ended its lackluster performance last week with a 9% rebound, the short-term outlook remains questionable. However, as the cryptocurrency market moves through the first few months of the fourth quarter and against the backdrop of Vitalik Buterin’s nomination for the Nobel Prize, the medium- to long-term forecast remains unchanged. Will ETH price reach $10,000? From a technical analysis perspective, Ethereum reaching $10,000 is a solid medium-to-high probability scenario. This assessment is based on two strong resistance levels at $2,800 and $4,000, which have long suppressed prices. Meanwhile, economist Tyler Cowen nominated Ethereum co-founder Vitalik Buterin for the Nobel Prize in Economics. Could this development help Ethereum reach $10,000?
Why did the prices of Shiba Inucoin (SHIB) and Dogecoin (DOGE) fall today?
The cryptocurrency market has witnessed notable drops in the prices of popular meme coins Shiba Inu (SHIB) and Dogecoin (DOGE). In the past 24 hours, SHIB has fallen by 3.72% and is currently valued at $0.000016, while DOGE has fallen by 2.5% and is currently priced at $0.106. In addition, the trading volumes of both coins also changed significantly, with SHIB’s trading volume falling by 3.82% to $286.78 million, while DOGE’s trading volume surged by 16.41% to $637.79 million. The following section explores three main reasons for the price decline of these meme tokens. Shiba Inu whale activity increases
Here are some events and data that may have an impact on the cryptocurrency market in the coming week. Here is a brief overview of these events and their potential impact rating (five stars is the highest impact):
October 10: US CPI data release influence: ★★★★☆ Beijing time: 20:30 This data will affect market expectations for the Federal Reserve’s future monetary policy and may have a significant impact on the cryptocurrency market.
October 12: Impact of initial jobless claims in the United States: ★★★☆☆ Beijing time: 20:30 If the data is significantly higher or lower than expected, it may affect market sentiment and indirectly affect the crypto market.
October 14: G20 Finance Ministers and Central Bank Governors Meeting Influence: ★★★★☆ All day (exact times may be announced differently during the conference) Statements from the meeting may influence the direction of global economic policy, with potential implications for the crypto market.
October 16: Federal Reserve Open Market Committee (FOMC) meeting minutes influence: ★★★★★ Beijing time: 2:00 a.m. the next day The published content may reveal the Federal Reserve's attitude towards future monetary policy, which will have a significant impact on market expectations and the crypto market. #非农人数大幅升温
Cryptocurrency Analyst Sherpa Predicts Bitcoin Surge, Analyzes SUI, APT, and EIGEN
Well-known cryptocurrency analyst Sherpa is bullish on Bitcoin (BTC), suggesting that a major price move is imminent. Sherpa, who has over 224,000 followers on X, highlighted that the price compression on Bitcoin’s daily chart is “extremely tight,” noting that the 25-period, 55-period, 100-period, and 200-period exponential moving averages (EMAs) are converging. According to Sherpa, this technical setup suggests that Bitcoin is about to see a major move, most likely to the upside. At the time of writing, Bitcoin is trading at $62,150.
Credit Suisse (SUI) gains strongly but faces future supply risks
Tonight's CPI will definitely have a needle, and the real market will start after the opening of the US stock market. Last night was a four-hour correction. If the big cake cannot close above 61,200 tonight, it will drop to 59,500 or even around 57,000 in the short term. $BTC
$ETH temporarily gained support when it stepped back to 2350 in the morning. At present, its rebound strength is slightly stronger than that of the big cake. The upper resistance range is mainly located around 2460. In terms of intraday operations, you can first pay attention to the rebound market.
Specific operation suggestions are: consider going long in the 2355-2365 range, and temporarily target around 2435, and set 2325 as a defensive position
$BTC The current overall trend is indeed not optimistic. The latest 4-hour and daily closings show obvious acceleration, and the upward trend line is also being tested. However, as long as it does not fall below 59,800, the double bottom situation has not been completely broken, and the fall below 61,000 has not yet been fully confirmed. At the same time, the 4-hour chart begins to show oversold signals, and a big rebound is possible at any time.
The 4-hour trend is for reference only, and the true trend judgment still needs to rely on the daily line. Bear momentum has indeed continued to weaken over the past five days, but not significantly. Additionally, there has been no golden cross so far, which means the current pullback is not over yet. When momentum starts to slow down, you can start paying attention to market trends in advance.
Can FTX Creditors’ $12 Billion Payout Revive Drowned Crypto Markets?
Cryptocurrency markets could see a massive infusion of capital in the coming months as FTX creditors are set to receive more than $12 billion in compensation. The influx of funds expected from a court-approved repayment plan raises the question of whether the massive amount of money can revive the currently depressed market. FTX creditor payment could spark crypto market recovery In June, the bankrupt exchange reported that it had $12.6 billion to return to customers, a figure it expected to rise to $16.5 billion as more assets were liquidated. The initial distribution totals about $1.1 billion, a relatively small amount, but is expected to provide a much-needed boost to the cryptocurrency market, especially Bitcoin.
Is the US about to approve an XRP ETF? Here’s what the experts think
Canary Capital’s second XRP ETF filing sparked optimism in the market, with many experts revealing that the investment vehicle could be approved. Meanwhile, Bitwise has just filed its first ETF application of its kind in the U.S. In addition, the latest filing also comes as the U.S. Securities and Exchange Commission (SEC) is appealing the Ripple SEC case, further fueling market discussions. Is an XRP ETF Launch in the U.S. Inevitable? Canary Capital’s recent XRP ETF filing sparked market optimism. This is the second consecutive filing after Bitwise filed a similar application earlier this month. The companies’ continued efforts also reflect Wall Street investors’ growing confidence in Ripple’s native cryptocurrency.
Why Do Some People Believe Nick Szabo Is Satoshi Nakamoto, the Inventor of Bitcoin (BTC)?
Nick Szabo is a cryptographer and computer scientist who has long been the subject of speculation in the cryptocurrency community. Many have wondered if he is Satoshi Nakamoto, the mysterious creator of Bitcoin. Szabo's contributions to digital currencies, particularly his work on "smart contracts," have sparked ongoing debate. Szabo created "Bit Gold" in the late 1990s, which is often seen as a precursor to Bitcoin. His early work on digital currencies is closely related to the invention of Bitcoin. "Nick Szabo was exploring digital currencies long before Bitcoin came along," said cryptography expert Dominic Frisby.
Crypto Analyst Predicts Massive 8,400% Rise in XRP Price to $44, Calls It “Conservative”
Cryptocurrency analyst Egrag Crypto predicts that XRP price will rise by 8,400% to $44. Interestingly, the analyst believes that the cryptocurrency could still reach a higher price target, calling the $44 price level “conservative.” XRP price will reach $44 Egrag Crypto in his X post predicts that the XRP price will reach $44. He highlights that this price level is one of the conservative targets based on the current cycle and Fib channels. The $44 price level is a target based on the Fib 0.702 channel. The other price targets he mentioned are $13 and $27 based on the Fib 0.5 and 0.618 channels respectively.
In the morning, we suggested shorting near the 62600 area. In the morning, we also came to the 62500 area. Our midday idea is still bearish.
From the technical structure, in the four-hour level, the running channel maintains a narrow downward trend, the price continues to fluctuate and fall, and no strong rebound is formed. The volume is arranged in a weak bullish form, and the moving average is consistent and downward. The small cycle is still a state of short-dominated.
In the daily level, the running channel continues to continue downward, and the price remains weak. In the middle and upper track area, there is no effective rebound after the dive. The short volume continues to shrink, and the moving average has not received a large joint rise. This week, I am still optimistic about the idea of shorting first. Whether the market can rebound and recover in the future needs to be followed up after the support.
Bitcoin personal operation suggestion: short near 63000, target 62500-62000. Breakthrough continues to look down!
Opening Diary: Virtual currency is ultimately a Ponzi scheme
Virtual currency is ultimately a Ponzi scheme, but the A-share market is heading straight for 5,000, supporting the nation's backbone. This sentence couldn't be more appropriate for today. The A-share market soared 5.7% in the morning, with an astonishing trading volume. It broke through one trillion in just 35 minutes, and the trading volume for the whole day is expected to break 3 trillion. Now all communities are talking about the A-share market, and even the groups that have been paying attention to the virtual currency meme for many years have begun to pay attention to the A-share market. Of course, this is also related to the correction of Bitcoin (big cake) today. Most retail investors in the currency market are profit-seeking. It has to be said that the recent domestic stimulus policies are very strong, and they have a certain "blood-sucking" effect on the currency market, but fortunately, this "blood-sucking" window period is only one day. Next, China will usher in a 7-day short holiday made up of adjustments and holidays, and then the market will return to the market dominated by US stocks. Although the market has a correction today, my view on the currency market in the next two weeks remains unchanged. I think the currency market will still be dominated by rising prices before the election.
BTC price will break through $74,000, 59% agree with Polymarket!
The bearish impact has once again intensified as the cryptocurrency market temporarily dropped to $2.20 trillion. BTC price fell back below $65,000 and Ethereum continued to sell off, with ETH falling to $2,630.
Amid the sell-off, will the Bitcoin price surge in Q4 as history predicts, or is it about to fall below $60,000? Let’s find out in our Bitcoin price analysis. Bitcoin price performance After a bullish reversal in the past few weeks, the price of Bitcoin peaked at $66,508 but fell back over the weekend. After a 1.60% drop on Monday, the price of Bitcoin is currently trading at $64,590.
The election day is November 5th, and it is expected that the market will enter the election market two weeks in advance. Many large funds are expected to leave the market for risk aversion purposes, so we must cherish the market in the first two weeks of October. This is a good window period for making money, and Bitcoin is likely to hit 70,000 again!
The weekend market is consistent with my prediction on Friday. The 6w5 bitcoin is just the beginning of the market. Sure enough, on Friday night, the bitcoin went straight above 6w6. Although it failed to stabilize at 6w6 yesterday and today, the current market selling pressure is significantly smaller than last week, which also means that the pressure of 6w5 has been transformed into support. I expect the upward trend to continue for 1-2 weeks, because the general election will be around November 5th, and the market will definitely hype in advance. At this stage, many funds are unwilling to take risks. Even though Harris also expressed support for artificial intelligence and cryptocurrency last week, many people think that this is just a means of canvassing votes for the election. Trump and Harris are very concerned about the Canadian election. The crypto groups take two extremes. It is not an exaggeration to say that the former are bootlickers. After taking office, the policies he promised before will definitely be discounted. The latter adopts a training approach to encryption, first suppressing it, then avoiding the topic, and finally leaking some information to you and saying it is good for you. It's like a bad guy suddenly does a little good, and you see it instantly becomes much more handsome. But before Harris reveals specific policies supporting encryption, I think she is still bearish on the market. At least there will be a lot of funds that don't believe in him, so I think we should cherish the market in the first two weeks of October. I have a hunch that there will be a market that will hit 70,000, but it may not be able to stand up in the end.