☀️  A strong sun will shine over Bitcoin, Binance Coin, Dogecoin and Uniswap in the next 24 hours, signaling bullish market conditions.

🌧  However, Ether will face rain, indicating a bearish trend.

🌥 Cardano and Ripple’s XRP will face a timid sun, which translates into slightly bullish market conditions.

🌧 Over a one-week time horizon, drizzle will linger over Bitcoin, while a timid sun will shine over 🌥 Ether, Avalanche, Polygon, and XRP.

The trading signals available at 7:30 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies fall in line with US & Asian equities on recession fears

Cryptocurrencies fell across the board over the past 24 hours on recession fears, mirroring the sharp declines on both the US and Asian stock markets overnight. Tech stocks took a battering, with Nvidia in the lead, on AI bubble fears. Leading tech stocks are likely to extend their losses today, as the US Department of Justice sent out a subpoena accusing them of monopolistic practices after close.

It is inevitable that the price of Bitcoin drops below $50,000, according to the crypto intelligence firm 10xResearch, while its competitor Bitfinex foresees its price in the low $50,000s or even mid $40,000.

The price of Bitcoin fell 4 percent to $56,638 over the past 24 hours, while that of ETH fell 5.5 percent to $2,3790, the lowest level in almost one month, Trading View’s Bitcoin chart shows.

“September is typically a bearish month not just for crypto but across all asset classes… October, however, has the strongest bullish seasonality, with BTC showing positive returns and an average gain of 22.9% in 8 out of the last 9 October,” Singapore-based QCP Broadcast said.

“If this pattern plays out again this year, it would be strategic to accumulate during the September dip and take profits in October or toward the year-end,” it added.

“In the current challenging market, preserving capital is crucial. While better opportunities will come, U.S. political uncertainties and a persistently weak Manufacturing PMI [released yesterday] signal potential declines for risk assets. Interest rate cuts do not ensure higher Bitcoin prices,” 10xResearch said in its daily note.

Binance executive bail plea rejected by Nigerian judge

The bail application for Tigran Gambaryan, a Binance executive who has been detained by Nigerian authorities for over six months, is still under consideration by the Nigerian authorities after he appeared in court yesterday.

“This inhumane treatment of Tigran must end. He must be allowed to go home for medical treatment and to be with his family,” the CEO of Binance, Richard Teng, commented.

Gambaryan is accused of money laundering by the Nigerian authorities, just as his employer is.

The price of Binance Coin dipped 4.4 percent to $513 over the past 24 hours.

Ripple Labs to assume custody of crypto assets of an AI tech company

Ripple Labs will custody the assets of Futureverse, a South Korean company specialized in  AI and metaverse technology.

“Our long-standing relationship with Ripple, along with their industry-leading product features, made Ripple Custody the ideal solution as we continue to build in the AI and metaverse technology space," said the Chief Customer Officer of Futureverse, Jeffrey McDonald.

The price of XRP shed 2.5 percent to $0.55 over the past 24 hours.

Tron community agrees on on-chain rather than revenue buyback

“After discussion, the community agreed that a better approach would be to directly implement a 100% on-chain buyback and burn process [rather than a revenue buyback suggested earlier this week]. This method is easier to verify, as all fund burn records will be on-chain, making it straightforward and eliminating the need for any explanations,” the founder of Tron, Justin Sun, said.

The price of Tron fell 1.5 percent to $0.15 over the past 24 hours.

US regulator needs to create a tailored registration form for crypto products

A Commissioner at the US Securities and Exchange Commission urged his employer to create a customized S-1 form for crypto product applications, the Block reports.

DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.