📊 Market Update | September 15th
Fear and Greed rose to 69 from 57 (greed), but the crypto market gave back Monday's bounce as the US 10-year yield climbed above 5%, its highest since 2007, pulling money from risk assets.
📰 Key News Events
• CLARITY Act odds on Polymarket fell from around 30% to 14% after Republicans rejected the Democrats' counteroffer. It needs 60 Senate votes this afternoon.
• CoinEx is shutting down after 9 years, with withdrawals open until December 22nd.
• A House crypto tax bill would end the sell and rebuy tax write-off, with markup Wednesday.
• An attacker drained about $7.8 million of rsETH through a flawed helper contract.
✍️ Summary
Monday's bounce did not hold and Ethereum shows real selling, so I've moved from tentatively bullish to neutral until the Senate vote and Wednesday's expected Fed hike. Bitcoin and Solana are oversold on support, where I'd bid once both clear.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed rose to 69 from 57 (greed), but the crypto market gave back Monday's bounce as the US 10-year yield climbed above 5%, its highest since 2007, pulling money from risk assets.
📰 Key News Events
• CLARITY Act odds on Polymarket fell from around 30% to 14% after Republicans rejected the Democrats' counteroffer. It needs 60 Senate votes this afternoon.
• CoinEx is shutting down after 9 years, with withdrawals open until December 22nd.
• A House crypto tax bill would end the sell and rebuy tax write-off, with markup Wednesday.
• An attacker drained about $7.8 million of rsETH through a flawed helper contract.
✍️ Summary
Monday's bounce did not hold and Ethereum shows real selling, so I've moved from tentatively bullish to neutral until the Senate vote and Wednesday's expected Fed hike. Bitcoin and Solana are oversold on support, where I'd bid once both clear.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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Time for another leverage trade 💰 We hit TP2 on our BTC long (over 45% profit), now it's time to do it again with ETH:
🟢 LIMIT LONG - ETH
🟢 PRICE - 2240-2290
🟢 LEVERAGE - 5-10x
TP1 - 2330
TP2 - 2370
TP3 - 2415
Stop Loss - Daily close below 2220
Reason: We have a big week coming up with the Clarity Act (today), FOMC, Japan Interest rate decision, and more, so I'm expecting volatility to be at an all-time high. With that said, if there's any unexpected negative news, then I could see a flush below support on ETH and am placing limit longs way lower accordingly (2240-2290). I still believe ETH will be an outperformer this cycle but the weekly remains overbought and we still haven't had a flush lower after the impulse move higher. As always, manage your risk, DCA accordingly, and only invest what you can afford to lose.
Trade here - https://blofin.com/futures/ETH-USDT
👉 Make sure you sign up for a Blofin account (NON KYC) and deposit USDT to receive a bonus - https://partner.blofin.com/d/CryptoData
🟢 LIMIT LONG - ETH
🟢 PRICE - 2240-2290
🟢 LEVERAGE - 5-10x
TP1 - 2330
TP2 - 2370
TP3 - 2415
Stop Loss - Daily close below 2220
Reason: We have a big week coming up with the Clarity Act (today), FOMC, Japan Interest rate decision, and more, so I'm expecting volatility to be at an all-time high. With that said, if there's any unexpected negative news, then I could see a flush below support on ETH and am placing limit longs way lower accordingly (2240-2290). I still believe ETH will be an outperformer this cycle but the weekly remains overbought and we still haven't had a flush lower after the impulse move higher. As always, manage your risk, DCA accordingly, and only invest what you can afford to lose.
Trade here - https://blofin.com/futures/ETH-USDT
👉 Make sure you sign up for a Blofin account (NON KYC) and deposit USDT to receive a bonus - https://partner.blofin.com/d/CryptoData
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📊 Market Update | September 16th
Fear and Greed dropped to 51 (neutral) from 69 after the CLARITY Act failed in the Senate on Tuesday, 49 to 50, 11 short of the 60 it needed. The Fed decides at 2pm ET, with CME FedWatch pricing a 92% chance of a quarter point hike, which raises borrowing costs and often weighs on crypto.
📰 Key News Events
• Senator Thom Tillis moved to reconsider the bill, so it can get another vote.
• Circle launched its Arc blockchain with BlackRock and Visa among its validators, bringing big finance onchain.
• Payward plans US perpetual futures on Hyperliquid via its regulated Bitnomial exchange, pending approval.
• Deutsche Bank plans Bitcoin, Ethereum and stablecoin custody for European institutions this year.
✍️ Summary
I remain neutral. Bitcoin and Solana are oversold on support while Ethereum sees real selling, so I'll wait for Warsh's 2:30pm ET press conference before bidding.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed dropped to 51 (neutral) from 69 after the CLARITY Act failed in the Senate on Tuesday, 49 to 50, 11 short of the 60 it needed. The Fed decides at 2pm ET, with CME FedWatch pricing a 92% chance of a quarter point hike, which raises borrowing costs and often weighs on crypto.
📰 Key News Events
• Senator Thom Tillis moved to reconsider the bill, so it can get another vote.
• Circle launched its Arc blockchain with BlackRock and Visa among its validators, bringing big finance onchain.
• Payward plans US perpetual futures on Hyperliquid via its regulated Bitnomial exchange, pending approval.
• Deutsche Bank plans Bitcoin, Ethereum and stablecoin custody for European institutions this year.
✍️ Summary
I remain neutral. Bitcoin and Solana are oversold on support while Ethereum sees real selling, so I'll wait for Warsh's 2:30pm ET press conference before bidding.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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📊 Market Update | September 17th
Fear and Greed sits at 50 (neutral). The crypto market held up through the Fed's first rate hike since July 2023, and 94 of the CoinDesk 100 traded higher afterwards, so the hike looks already priced in.
📰 Key News Events
• The SEC will let blockchain venues trade tokenized stocks for five years without registering as an exchange, a way around the failed CLARITY Act.
• Zcash rose as much as 23% to a record after Paradigm disclosed it owns ZEC.
• S&P Global agreed to buy OpenZeppelin, the smart contract security firm.
• A House committee advanced a bill to write the Strategic Bitcoin Reserve into law. It still needs full House and Senate votes.
✍️ Summary
I was neutral until Warsh spoke. With Bitcoin, Ethereum and Solana all above yesterday's highs, I'm tentatively bullish again. Goldman expects another hike in October, so I'll bid pullbacks at major support, not chase.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed sits at 50 (neutral). The crypto market held up through the Fed's first rate hike since July 2023, and 94 of the CoinDesk 100 traded higher afterwards, so the hike looks already priced in.
📰 Key News Events
• The SEC will let blockchain venues trade tokenized stocks for five years without registering as an exchange, a way around the failed CLARITY Act.
• Zcash rose as much as 23% to a record after Paradigm disclosed it owns ZEC.
• S&P Global agreed to buy OpenZeppelin, the smart contract security firm.
• A House committee advanced a bill to write the Strategic Bitcoin Reserve into law. It still needs full House and Senate votes.
✍️ Summary
I was neutral until Warsh spoke. With Bitcoin, Ethereum and Solana all above yesterday's highs, I'm tentatively bullish again. Goldman expects another hike in October, so I'll bid pullbacks at major support, not chase.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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🟢 LIMIT LONG - UNI
🟢 PRICE - 7.30-7.45
🟢 LEVERAGE - 5-10x
TP1 - 7.65
TP2 - 8.30
TP3 - 9.30
Stop Loss - Daily close below 7.20
Reason: UNI has been a serious outperformer lately, and due to good reason. The SEC recently approved Innovation Exemption for Tokenized U.S. Stocks to Trade via Onchain AMMs. This is huge for Uniswap. For example:
- The existing tokenized stocks on Robinhood aren't the "permissioned" versions that are coming. They likely could be composable though.
- Every single official tokenized stock will trade via a "permissioned pool" onchain.
- Uniswap Permissioned Pools is the obvious choice for every tokenized stock that will be traded on Robinhood
This means that not only will Uniswap be making a ton off of fees and liquidity, but its name will be everywhere. Most aren't grasping how big this is for UNI, and imo, a massive repricing is imminent. The RSI is overbought though and price is up against resistance, so I'm waiting for a pullback to get an even better entry. As always, manage your risk, DCA accordingly, and only invest what you can afford to lose.
Trade here - https://blofin.com/futures/UNI-USDT
👉 Sign up for a Blofin account (NON KYC) and deposit USDT to receive a bonus - https://partner.blofin.com/d/CryptoData
🟢 PRICE - 7.30-7.45
🟢 LEVERAGE - 5-10x
TP1 - 7.65
TP2 - 8.30
TP3 - 9.30
Stop Loss - Daily close below 7.20
Reason: UNI has been a serious outperformer lately, and due to good reason. The SEC recently approved Innovation Exemption for Tokenized U.S. Stocks to Trade via Onchain AMMs. This is huge for Uniswap. For example:
- The existing tokenized stocks on Robinhood aren't the "permissioned" versions that are coming. They likely could be composable though.
- Every single official tokenized stock will trade via a "permissioned pool" onchain.
- Uniswap Permissioned Pools is the obvious choice for every tokenized stock that will be traded on Robinhood
This means that not only will Uniswap be making a ton off of fees and liquidity, but its name will be everywhere. Most aren't grasping how big this is for UNI, and imo, a massive repricing is imminent. The RSI is overbought though and price is up against resistance, so I'm waiting for a pullback to get an even better entry. As always, manage your risk, DCA accordingly, and only invest what you can afford to lose.
Trade here - https://blofin.com/futures/UNI-USDT
👉 Sign up for a Blofin account (NON KYC) and deposit USDT to receive a bonus - https://partner.blofin.com/d/CryptoData
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📊 Market Update | September 18th
Fear and Greed has moved up to 56, into greed from neutral yesterday. The crypto market ripped higher today on a short squeeze, even as the Bank of Japan raised rates a quarter point to 1.25% (its highest level in 31 years).
📰 Key News Events
• The CFTC sent a crypto market proposal to the White House after the CLARITY Act stalled in the Senate.
• The US Treasury sanctioned BitBank, a Tehran exchange it says moved Bitcoin to the Revolutionary Guards.
• The WSJ reported ECB President Christine Lagarde intervened to block Binance's MiCA license in Greece.
• Haruko, a London risk software firm for crypto funds, was hacked this week and some client funds were stolen.
✍️ Summary
I'm bullish, up from tentatively bullish yesterday, with Bitcoin, Ethereum and Solana all above yesterday's highs. A squeeze this size usually retests, so I'll bid pullbacks at major support.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed has moved up to 56, into greed from neutral yesterday. The crypto market ripped higher today on a short squeeze, even as the Bank of Japan raised rates a quarter point to 1.25% (its highest level in 31 years).
📰 Key News Events
• The CFTC sent a crypto market proposal to the White House after the CLARITY Act stalled in the Senate.
• The US Treasury sanctioned BitBank, a Tehran exchange it says moved Bitcoin to the Revolutionary Guards.
• The WSJ reported ECB President Christine Lagarde intervened to block Binance's MiCA license in Greece.
• Haruko, a London risk software firm for crypto funds, was hacked this week and some client funds were stolen.
✍️ Summary
I'm bullish, up from tentatively bullish yesterday, with Bitcoin, Ethereum and Solana all above yesterday's highs. A squeeze this size usually retests, so I'll bid pullbacks at major support.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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📊 Market Update | September 19th
Fear and Greed has jumped to 71 from 56 yesterday, in greed. The crypto market kept pushing higher into the weekend as the inflation scare after the Fed hike cooled, with the 10-year Treasury yield back under 5% (lower yields make crypto cheaper to hold).
📰 Key News Events
• Coinbase filed with the CFTC to list perpetual futures on US stocks like Apple, Tesla and Nvidia.
• Solana cut its block time from 300 to 250 milliseconds, so blocks arrive nearly 17% faster.
• Bastion won conditional OCC approval for a national trust bank charter to hold and issue stablecoins.
• Grayscale's Zcash ETF is splitting its shares three ways after pulling in over $233 million in under a month.
✍️ Summary
I remain bullish, with Bitcoin and Ethereum extending yesterday's breakout. The retest I expected has not come yet, so I'll bid pullbacks at major support rather than chase green candles.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed has jumped to 71 from 56 yesterday, in greed. The crypto market kept pushing higher into the weekend as the inflation scare after the Fed hike cooled, with the 10-year Treasury yield back under 5% (lower yields make crypto cheaper to hold).
📰 Key News Events
• Coinbase filed with the CFTC to list perpetual futures on US stocks like Apple, Tesla and Nvidia.
• Solana cut its block time from 300 to 250 milliseconds, so blocks arrive nearly 17% faster.
• Bastion won conditional OCC approval for a national trust bank charter to hold and issue stablecoins.
• Grayscale's Zcash ETF is splitting its shares three ways after pulling in over $233 million in under a month.
✍️ Summary
I remain bullish, with Bitcoin and Ethereum extending yesterday's breakout. The retest I expected has not come yet, so I'll bid pullbacks at major support rather than chase green candles.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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📊 Market Update | September 20th
Fear and Greed is unchanged at 71, in greed, as the crypto market gives back part of last week's move. The SEC's Innovation Exemption, published Thursday the 17th, lets tokenized US stocks trade on blockchains for five years if they keep dividend and voting rights.
📰 Key News Events
• Kalshi filed Friday to list stock futures with no expiry on Apple, Tesla and Nvidia from November 2nd.
• Visa is ending the credit card rewards Robinhood Wallet and Fomo users earned on memecoin buys next week.
• Fraudsters tried to take $10 million off Polymarket's US platform in February with stolen debit cards.
• Gemini's stock is down 80% from its IPO, reviving takeover talk over its licenses.
✍️ Summary
I am moving from bullish to neutral. Bitcoin and Ethereum are still inside yesterday's ranges, but Solana lost its low. I will bid major support on the daily and weekly charts and wait.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
Fear and Greed is unchanged at 71, in greed, as the crypto market gives back part of last week's move. The SEC's Innovation Exemption, published Thursday the 17th, lets tokenized US stocks trade on blockchains for five years if they keep dividend and voting rights.
📰 Key News Events
• Kalshi filed Friday to list stock futures with no expiry on Apple, Tesla and Nvidia from November 2nd.
• Visa is ending the credit card rewards Robinhood Wallet and Fomo users earned on memecoin buys next week.
• Fraudsters tried to take $10 million off Polymarket's US platform in February with stolen debit cards.
• Gemini's stock is down 80% from its IPO, reviving takeover talk over its licenses.
✍️ Summary
I am moving from bullish to neutral. Bitcoin and Ethereum are still inside yesterday's ranges, but Solana lost its low. I will bid major support on the daily and weekly charts and wait.
Trade on Blofin: https://partner.blofin.com/d/CryptoData
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