Crypto-Boiz

The bankruptcy court has taken measures to ensure that the liquidation of FTX assets won’t become a burden for the crypto market, demanding the sale to occur through an investment adviser in weekly batches in accordance with preestablished rules.Following the initial impact, which drove SOL’s price down to a two-month low of $17.34 on Sept. 11, some degree of confidence among bulls emerged as it reestablished the $20 support on Sept. 29. This movement coincided with a successful upgrade to version 1.16, boosting SOL by 16% over the next seven days.

Bitcoin, BTC/USD and Ethereum ETH/USD all traded higher on Monday, with Bitcoin surpassing the $28,000 mark and Ethereum trading above the key $1,700 level. Bitcoin SV BSV/USD emerged as the biggest gainer in the previous 24 hours, while GMX GMX/USD recorded the biggest decline.The global cryptocurrency market capitalization has increased to $1.12 trillion, recording a 2.8% increase in 24 hours. Bitcoin was up 4.2% at $28,338 and Ethereum was up about 2.5% to $1,730 on Monday.Among the top 10 cryptocurrencies that gained the most in price over the past day were Bitcoin SV BSV/USD with a price of 37.34 USD and a 16.7% increase in 24 hours, THORChain RUNE/USD with a price of 2.17 USD with a increased by 12.2%, and eCash XEC/USD increased by 10.3% to reach a price of 0.00002757 USD. Renderings RNDR/USD and Mantle MNT/USD also posted significant gains of 7.6% and 6.5% respectively

Market capitalization is currently at 539 billion USD. However, the trading volume in the past 24 hours only reached 10.4 billion USD, down about 8% compared to the previous trading session.In addition, on the Binance tracking tool, the prices of other virtual currencies witnessed notable fluctuations such as Ethereum price decreased by 0.57% at 1,638 USD; BNB price down 0.09% at $212; Dogecoin price also decreased by 0.28% at 0.06 USD,...There are currently many analytical opinions that expect Bitcoin to have a strong price increase in October. This expectation comes from more interest in risky assets.

Overview of the CRYPTO market when the NFP bulletin board is publishedThe market is still forming a slight growth trend. Waiting for a new breakthrough to increase strongly again!It is predicted that BTC will continue to grow in the near future!

Earlier this week, when concerns started to grow over the state of the two businesses’ finances, crypto market analysts began to speculate that Alameda might need to sell some of its SOL tokens to raise liquidity. The fears sent the SOL price tumbling – as traders rushed to get ahead of the selling pressure.

Last week marked the one-year anniversary of Ethereum’s historic “Merge” – the shift to a more energy-efficient proof-of-stake network. But in some ways the largest smart-contract blockchain has become a victim of its own success: Staking is so popular that the number of network validators is mushrooming toward 1 million, introducing new concerns related to the sprawl. We discuss how Ethereum developers are addressing the issue with the EIP-7514 proposal.A slight increase is expected this week

The Wednesday pause in rate hikes had been overwhelmingly expected by market participants, but Fed members now see much higher interest rates for next year than previously projected.It is predicted that BTC will continue sideways waiting for new moves from investors

The SEC lawsuit heralds more regulatory difficulties for the cryptocurrency industry, which is reeling from increased scrutiny after a series of high-profile bankruptcies so far in 2022.The commission also recently threatened action against Coinbase (NASDAQ:COIN) for non-compliance with securities laws. Coinbase shares fell 10% following news of Binance's lawsuit.Cryptocurrency prices plummeted last year after the Federal Reserve began raising interest rates, ending the easy money environment that initially boosted the industry.Since then, the market has struggled to recover even from the record highs seen in 2021 and has traded largely in range in recent months.

During the correction from late 2021 to early 2022, the trendline provided very good support for the price. However, this threshold was later broken and ETH fell into a deep correction.On the other hand, from June 2022 until now, ETH is still moving in the rising price channel and the lower edge of the price channel (Lower Channel Line) will play a strong support role for ETH.According to the weekly chart, ETH has fallen below the 50-week SMA. This shows a less positive outlook for ETH during the year-end period. This will also be strong resistance for ETH in the future.The Death Cross between the 50-week SMA and the 100-week SMA has appeared since October 2022 and has remained until now.The writer expects that the adjustment process of ETH will continue for quite a long time. Therefore, investors should be careful when participating in bottom fishing at this price range.

In the weekly chart, BTC broke the short-term trendline (formed from January 2023 to present) after testing the 100-week SMA and reversing afterward.At the same time, the MACD indicator has shown a sell signal in a bearish divergence state and the MACD line is receding close to the 0 threshold. This shows that BTC's short-term prospects are less positive.Currently, the 50-week SMA is acting as support (equivalent to the area of ​​24,500 - 26,500 USD). The writer believes that the risk will increase if BTC loses this important support zone in the near future.