Bitcoin is up 1.4% in the past 24 hours, trading at $19,550 at the time of writing. U.S. stock indexes had stepped decisively higher the day before, and index futures are developing their gains by the start of European trading. A buoyant stock market backdrop supports appetite for crypto assets, but overall fluctuations remain unusually subdued.
Bitcoin's fluctuations since June fit into a triangle with a descending resistance line and horizontal support of $18.8K, and now the price moves at the right angle of the figure. Typically, this situation is resolved by a spike in volatility on the way out of the range. The confirmation of the break of the long-term consolidation should be looked for not earlier than the exit of the previous highs at $20.4K or the failure under $18K, with more probability of the second variant. However, we note that the downtrend in BTCUSD has lasted almost a year, taking away more than 70% of the peak price and becoming attractive for long-term buyers.
According to CoinShares, investments in crypto funds rose slightly last week after a slight outflow the week before. Fund inflows totalled $12 million. Bitcoin investments increased by $9 million, and Ethereum investments decreased by $4 million. Investments in funds that allow shorts on bitcoin increased by $7 million. Investors remain apathetic; flows over the past five weeks have not exceeded 0.05% of assets under management, CoinShares noted.
Bitcoin has the potential to break the link to traditional risk assets. This could happen thanks to investors' realisation that most threats come from governments and fiat currencies, according to LookIntoBitcoin. Based on previous cycles of investor capitulation, the timing is now suitable for strategic BTC buying.
According to GlobalData's worldwide survey of asset managers, wealthy investors still want to invest in digital assets. And because cryptocurrencies only account for 1.4% of their portfolios, they are willing to take maximum risk.
French investment bank Société Générale has obtained permission from local regulators for its subsidiary to store, buy, sell, and exchange cryptocurrencies. According to a new Coincub report, in the third quarter of 2022 Germany became the most favourable country to run a crypto business, climbing to first place in the rankings with Switzerland, Australia, the UAE, followed by Singapore. The US slipped from first place to seventh because of unfavourable taxation policies and a lack of clarity on crypto regulation.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 72.4% | 54 | $68 221.63 | 1.27% | 2.38% | $1 346 132 518 889 | ||
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2 | ![]() |
Ethereum predictions | 77.6% | 47 | $3 277.70 | 0.62% | -6.01% | $394 072 124 681 | ||
3 | ![]() |
Tether predictions | 93.6% | 1 | $1.000294 | 0.04% | -0.03% | $114 362 869 613 | ||
4 | ![]() |
Solana predictions | 65.2% | 70 | $186.46 | 3.76% | 10.05% | $86 651 629 563 | ||
5 | ![]() |
Binance Coin predictions | 79.2% | 42 | $588.60 | 1.71% | -0.56% | $85 893 706 101 | ||
6 | ![]() |
USD Coin predictions | 91.6% | 1 | $1.000218 | 0.01% | 0.02% | $34 165 068 764 | ||
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XRP predictions | 60.4% | 86 | $0.601322 | 0.08% | 1.60% | $33 650 519 304 | ||
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Dogecoin predictions | 74% | 55 | $0.135778 | 4.40% | 6.72% | $19 726 589 838 | ||
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Toncoin predictions | 84.8% | 29 | $6.74 | -0.27% | -8.09% | $16 954 582 289 | ||
10 | ![]() |
Cardano predictions | 75.2% | 49 | $0.417851 | 0.74% | -4.48% | $15 002 527 040 | ||
11 | ![]() |
TRON predictions | 87.2% | 18 | $0.137290 | 0.44% | 2.02% | $11 952 578 512 | ||
12 | ![]() |
Avalanche predictions | 79.2% | 38 | $28.70 | 1.64% | 1.95% | $11 330 467 420 | ||
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Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | ![]() |
SHIBA INU predictions | 80.8% | 30 | $0.000017 | 2.35% | -3.05% | $10 173 129 198 | ||
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Wrapped TRON predictions | 90.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |
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