Bitget Daily Morning News | BTC Short-term Rise, Sotheby's and Other Concepts MEME Hot [October 28th]

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远山洞见2024/10/28 01:42

By:远山洞见

Market Hotspots

1. Solana-related concepts such as $BAN and $EYE are performing well, with good wealth effects. Trade popular memes using Bitget Wallet.

2. Solana network's TVL has grown by nearly 20% in the past week, reaching a new high since January 2022. The ecosystem fundamentals continue to improve, and the native coin and top tokens in the ecosystem are worth watching.

3. Currently predicting Trump's probability of winning the U.S. presidential election at 65.1%, while Harris' chances stand at 34.8%. With the election approaching, there may be trading opportunities for concept tokens.

4. Base's daily stablecoin transfer volume has exceeded that of all other chains for the first time, revealing wealth opportunities on-chain.

Market Trends

1. BTC rose to 68k USD, with most altcoins following suit; notable performance from inscription and BRC20 sectors.

2. Nasdaq has risen for seven consecutive weeks; Nvidia's market value briefly surpassed Apple’s during trading hours; U.S Treasury bond yields increased by nearly 16 basis points throughout the week.

3.Bitget BTC/USDT liquidation map indicates that if it falls by one thousand points to around 67,062 USDT, cumulative long liquidation amount will exceed $260 million USD; rising by one thousand points to around 69,062 USDT would lead to cumulative short liquidation exceeding $660 million USD.
Bearish liquidation far exceeds bullish positions; caution is advised regarding leverage control to avoid triggering large-scale liquidations amid market fluctuations.

4.BTC spot capital net inflow returns positive with a net inflow of $26 million USD over a span of twenty-four hours.
$BTC $ETH $SOL $DOGE $WIF contract trades lead in net inflows within twenty-four hours indicating potential trading opportunities.

Twitter Highlights

Ⅰ.Andrew Crypto: Emphasizes caution as Ethereum ($ETH) fails key support/resistance levels.

KOL @AndrewCryptoHQ advises investors to exercise caution concerning ETH due to its failure in reversing key support/resistance levels:
- Key level breached: ETH failed again at S/R levels and returned back into triangle formation showing poor performance.
- Potential downside risk: Failure to reverse current range might push ETH down towards lows near $2000.
- Market alert: Andrew warns that ETH must stabilize at current levels or face further decline amidst tense market sentiment.

Market Outlook:
Andrew Crypto suggests that ETH needs swift reversal at crucial support level for maintaining upward momentum else risks further downturns urging investors close monitoring of support conditions.

Original link: https://x.com/AndrewCryptoHQ/status/1850100685842378893

II.Million Eric: Bitcoin daily EMA moving averages signal bullish alignment anticipating moderate uptrend

KOL Million Eric notes Bitcoin forming EMA bullish alignment on daily chart (EMA20/50/100/200 ascending order), analyzing possible price uptrend paths:
- Bullish alignment signal: Current EMA bullish pattern on Bitcoin’s daily chart signifies an optimistic outlook suggesting potential entry into an upward trend.
- Moderate uptrend mode: Million Eric leans towards gradual price oscillations upwards with multiple retests near EMA20 consolidating confidence in upswing rather than rapid surge back towards previous highs.
- Risk management: Rapid surges could increase holding pressure & operational difficulties breaking below EMA50 would invalidate existing logic.

Market Outlook:
Million Eric believes sustained mild rise in Bitcoin will boost investor confidence favoring bull trend advising focus on price retracement against EMA20 for supportive cues.

Original link：https://x.com/CycleStudies/status/1850570219347157271

III.Bluntz Capital - SOL leading markets with WIF potentially poised for breakout

KOL @Bluntz_Capital views SOL currently leading markets strongly endorsing WIF’s upside potential:
-SOL dominance evident as it leads markets displaying strong bullish signals overall;
-WIF nearing bottom against SOL pair (WIF/SOL) showing five-wave downtrend structure & significant divergence on four-hour chart;
-Bullish expectations Bluntz holds substantial WIF expecting robust rebound driven by SOL influence;

Market Outlook：
Bluntz anticipates explosive rise in WIF alongside SOL’s strong performance recommending investors watch out for potential upside opportunity in WIF.

Original link：https://x.com/Bluntz_Capital/status/1850645038096945292

IV.CRG - BTC breakthrough rally expected weekly strong closure

KOL @CRG observes ongoing upward trend in BTC noting geopolitical tensions yet resilient market performance:

-Breakthrough resistance level:BTC shows robust rally nearing resistance while S&P500(ES) opens significantly higher signaling optimism amidst current geopolitical backdrop;

Weekly improvement:Candlestick chart displays marked improvement this week compared early days CRG hopes strong weekly closure sets stage greater potentials next week;

Risk reminder : CRG emphasizes avoiding rejection at current resistance hoping continuation further upsurge;

Market Outlook：
CRG opines successful breach above prevailing resistance coupled firm closing paves way larger gains next week advising scrutiny over weekly closure behavior.

Original link：https://x.com/MacroCRG/status/1850662654441848850

Institutional Views

1. Galaxy Digital: Lack of successful use cases in the industry allows Memecoin to exist

Original link: https://x.com/intangiblecoins/status/1850553097459826897

2. Deribit: Demand for bullish options surges after US election, traders expect short-term high volatility market at that time

Original link: https://www.theblock.co/post/323053/bitcoin-call-options-see-surge-in-demand-for-first-expiry-after-us-election-deribit-ceo-says

3. QCP Capital: Bitcoin finds support at $65,000, expecting its dominance to continue rising

Original link: https://www.theblockbeats.info/flash/268078

4. Kraken: Bitcoin can maintain above $66,500 to sustain a bullish trend

Original link: https://cointelegraph.com/news/bitcoin-bulls-btc-price-key-moving-averages-crypto-analysts-kraken

News Updates

1.Hong Kong Securities Commission discusses crypto assets tokenization AI regulation guidelines along representatives from twelve Asia-Pacific securities regulators

2.Chairman Hong Kong Investment Funds Association plans virtual asset education aiding investors retirement financial goals

3.Tether criticizes Wall Street Journal irresponsible reporting "Tether faces U.S government penalties"

4.Russia introduces new crypto regulations expanding oversight mining activities infrastructure