LYKKE
Wednesday
30 Oct
bearish

🌩️ Stormy weather with strong winds is predicted for Bitcoin and Ripple's XRP over the next 24 hours, indicating high volatility and bearish market conditions. 🌧️ Ether, Solana, Uniswap, and most other coins covered by ATTMO are facing drizzle, reflecting slightly bearish conditions. ☀️ The only coin bucking this trend is Binance Coin, with a strong sun shining over it, suggesting a bullish market. 

☀️ Looking ahead to the one-week horizon, sunny conditions and the return of bullish momentum are expected for most cryptocurrencies.

The trading signals available at 09:35 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Bitcoin at a 7-month high, topping $72,000 as market heats up

Bitcoin surged past $72,000 for the first time since June after several prior attempts, reaching a seven-month high. Investors are flocking to the newly-approved crypto ETFs, which give institutional players regulated access to Bitcoin—an asset they previously hesitated to buy on exchanges.

Data from DeFi derivatives platform Derive reveals many bets on Bitcoin hitting $80,000, with short-term call sales climbing as investors prepare for potential 20% price shifts, founder Nick Forster told Decrypt in an interview.

Bitcoin’s rally also triggered massive liquidations, dealing a blow to bearish traders. Data from CoinGlass shows that $262 million was liquidated in the past 24 hours, with $214 million in short positions alone. 

According to Trading View’s Bitcoin chart, the most popular cryptocurrency is trading at $72,497 at the time of writing. 

Binance launches ‘Binance Wealth’ for clients in Asia and Latin America

In an official announcement, Binance introduced Binance Wealth, a premium service aimed at high-net-worth clients in Asia and Latin America. With this launch, wealth managers can help onboard clients and provide them with access to a range of digital assets. The service is tailored to bring a traditional wealth management feel to the world of crypto.

However, Binance Wealth is not a financial advisory service. Instead, it’s a technological platform that enables wealth managers to oversee their clients’ crypto exposure using Binance’s infrastructure. This includes individual sub-accounts with dedicated KYC and trading options, while Binance VIP account managers are on hand for support. At the time of writing, Binance Coin is priced around $604, remaining relatively stable over the last 24 hours.

Kraken receives 25M OP tokens for Optimism Layer-2 project

Crypto exchange Kraken’s choice to build on Optimism's OP Stack didn’t come without a price tag. In a deal with the Optimism Foundation, Kraken secured a grant of 25 million OP tokens, valued at around $42.5 million at current market prices, which will be paid over time.

Kraken’s announcement last week revealed its plans for Ink, a new layer-2 network built on Optimism’s ecosystem. The project will join the "Superchain," a network of layer-2 solutions that includes entries from Coinbase, Sony, and Uniswap. At the time the agreement was struck, the OP token’s value was around $4, giving the grant an initial worth of about $100 million.

In a recent post shared on X, Mike Dudas, co-founder of The Block, called Optimism’s investment in Kraken a “smart move”, adding, “That’s what Foundation funds are for: encouraging massive growth.” He noted that Kraken, as a Tier 1 exchange, “will likely be worth every penny.”

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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.