#BTC (Weekly Chart): Today, let’s explore potential price movement scenarios on the higher timeframe. Yesterday, Bitcoin tested the level with maximum trading activity (Point of Control – POC) within the range of $29,500 – $65,500. As of the review, the asset is trying to consolidate above this level ($39,500), confirming buyer interest. According to CoinGlass data, over the past week, the most liquidity has accumulated around $42,000 and $43,500. Considering the recent market offloading of long positions, I expect a Bitcoin rebound to $43,500 – $45,000 in the near future.
After achieving the price of the marked seller’s zone, there is a higher probability of an asset pullback with a test of the dynamic support level in the form of the 21-week Exponential Moving Average (EMA) at $37,500. Upon Bitcoin’s return above the POC mark ($39,500), the next wave of asset growth is expected with a strength test of the resistance level at $48,000. Surpassing this level will propel the instrument towards the next seller block around $56,500.
#ETH: Ethereum continued its decline to the $2,185 mark, where the instrument experienced a rebound. The nearest resistance level is around $2,305.
Taurus, supported by Deutsche Bank, has obtained approval from the Swiss Financial Market Supervisory Authority (FINMA) to offer tokenized securities to retail clients.
The Swiss fintech startup has launched a new RWA trading platform named TDX. The license allows access to both the primary and secondary markets, serving both retail and professional investors, and enhances the liquidity of digital securities. Taurus provides infrastructure for creating, storing, and trading digital assets, including cryptocurrencies, tokenized securities, NFTs, and digital currencies. In September, Deutsche Bank signed an agreement with Taurus to provide services for storing digital assets and tokenization to its clients. The bank also participated in the Series B funding round of the company, raising $65 million in February 2023.
In my view, Taurus obtaining a license from FINMA indicates the interest of major financial institutions, such as Deutsche Bank, in blockchain technology and tokenization of real-world assets (RWA). The bank’s participation in the company’s funding round further emphasizes the strategic importance of digital assets in the future financial market. Such collaborations can increase investor interest and trust in tokenized securities and assets, as well as contribute to the expansion of RWA usage in financial markets.
#Altcoins: The announcement by the Syntropy platform (#NOIA) about joint development with MorpheusAI of decentralized AI led to a 35% increase in #NOIA (to #USDT).
The launch of the new Pondwater service, which rewards locked PondCoin tokens (#PNDC), caused a 28% rise in #PNDC (to #USDT).
Against the backdrop of the Synapse project (#SYN) launching a new cross-chain bridge, the price of #SYN increased by 22% (to #USDT).
#US Stock Market: Tuesday’s trading ended mixed due to the strengthening of the telecommunications, consumer goods, and raw materials sectors, along with negative dynamics in the industrial, financial, and healthcare sectors. At the closing on the New York Stock Exchange, Dow Jones fell by 0.25%, the S&P 500 index rose by 0.29%, and the NASDAQ Composite index grew by 0.43%.
The overall market value of digital assets increased by 2.5% over the past day, and the dominance of the main cryptocurrency rose by 0.4%. Since January 22, long positions in Bitcoin and altcoins have been liquidated by $460 million. In the short term, I believe that late short positions will be liquidated. This will result in the rise of #BTC and the recovery of the entire market.