▫️#BTC (three-hour timeframe). Bitcoin decreased to $68,300, where buyers took the initiative. The asset surpassed the important trading level of $69,000 and continued its upward movement after a retest. The Volume Balance Line approached the exponential moving average EMA 21, a breakout of which would be the first signal for Bitcoin’s continued growth.
The next obstacle in the upward movement will be the resistance level at $71,800. The previous attempt to develop an upward movement was stopped by sellers in this area. Over the past week, the most liquidity has accumulated at $72,000 and $68,000, according to data from the analytical platform CoinGlass . Therefore, there are chances of another decline in the asset towards the trend support line around $66,000 before establishing a new price maximum.
▫️#ETH. After retreating to $3,460, the instrument recovered. At the time of writing the review, the price is consolidating below the resistance level of $3,625. A consolidation above it will direct the instrument towards the next seller block at $3,800.
▫️Swiss digital asset management company 21Shares has introduced a new exchange-traded product (ETP) based on the cryptocurrency Toncoin (#TON). The financial product tracks changes in the asset’s value and automatically reinvests the profit received into staking coins.
The ETP, named 21Shares Toncoin Staking, is now available on the Swiss SIX exchange under the symbol TONN. The company describes the fund as an innovative tool that allows investors to conveniently enter the world of staking and receive rewards without unnecessary complexities. According to official information, $25 million has already been invested in the product, with an annual management fee of 2.5%. The company’s CEO noted that the projected volume of assets under management for TONN at the launch stage is $40 million.
I believe this event is significant for the cryptocurrency industry as it reflects a growing interest in cryptocurrencies among traditional investors and financial institutions. The launch of an exchange-traded product based on #TON opens doors for new investors who may have previously been uncertain about digital assets, potentially contributing to wider cryptocurrency adoption and integration into the financial sphere. The emergence of such an investment instrument may attract the attention of new trading participants to the altcoin market as a whole.
▫️Alts: In light of the news about increased rewards for liquidity providers in the DeFi protocol Extra Finance (#EXTRA), the price of #EXTRA increased by 56% (to #USDT).
An update to the roadmap of the StrikeX project (#STRX) led to a 36% increase in #STRX (to #USDT).
The release of the new token standard ST404 (an analogue of the experimental ERC-404 standard on the #ETH network) by the Smart Layer Network (#SLN) platform caused a 32% increase in #SLN (to #USDT).
▫️US stock indices ended Wednesday’s trading session with gains due to the strengthening of the utilities, commodities, and telecommunications sectors. At the close on the New York Stock Exchange, the Dow Jones rose by 1.22%, the S&P 500 index increased by 0.86%, and the NASDAQ Composite index grew by 0.51%.
▫️The total market capitalization of digital assets increased by 1.9% over the past day, with the dominance of the main cryptocurrency rising by 0.25%. In the short term, a continuation of the market recovery with the growth of #BTC towards the resistance level of $71,800 is likely, where a local price rollback is possible.