🌧 Drizzle will linger over Bitcoin, Dogecoin and Polkadot in the next 24 hours, signaling slightly bearish market conditions, while rain will fall over Ether, indicating a bearish trend. However, sun will shine ☀️ over Avalanche and Ripple’s XRP.
 🌧 Over a one-week time horizon, drizzle will linger over Bitcoin, Binance Coin and XRP, while rain will fall over Ether, Solana, Cardano, Avalanche and other altcoins.

The trading signals available at 7:20 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 rose on rate cut hopes, with Bitcoin above $60,000

The cryptocurrencies rose over the weekend with Bitcoin rising above $60,000 ahead of the US Federal Reserve’s rate meeting this Wednesday. Investors brace for a potential rate cut of 25 or 50 basis point cuts from the current 5.25 percent, a 23-year high. Early on Monday, the positive mood subsided, and crypto assets fell back.

“Despite positive narratives, such as favorable U.S. interest rates, the upcoming U.S. presidential election, and typically strong Q4 seasonality, low economic momentum still presents significant headwinds for higher Bitcoin prices,” 10xResearch writes in its daily commentary.

The price of Bitcoin traded at a two-week high over the weekend, before falling back more than 2.5 percent over the past 24 hours to $58,153, Trading View’s Bitcoin chart shows. Ether fell more than 5.2 percent to $2,296.

MicroStrategy expands its Bitcoin holding, now holds 244,800 Bitcoin

MicroStrategy (MSTR), the listed company holding most Bitcoin, acquired an additional 18,300 Bitcoin between Aug 6 and Sept 12, a regulatory filing shows. These were bought for approximately $1.11 billion in cash.

MSTR now holds a total of 244,800 Bitcoin worth $14.3 billion. Its unrealized capital gain is estimated at roughly $4.9 billion. Its share price rallied by 8.2 percent to $141.47 on Friday.

SEC extends its lawsuit against Binance, listing additional tokens as securities

The Securities and Exchange Commission (SEC) has extended its charges against Binance, now listing the following tokens as securities in its ongoing lawsuit: Axie Infinity’s Axie Infinity Shards, Filecoin, Cosmos’ ATOM, The Sandbox’s SAND, and Decentraland’s MANA, Cointelegraph reports.

The US regulator sued Binance in June 5, 2023 alleging the crypto exchange operates unregistered exchanges, broker-dealers, and clearing agencies, misrepresent trading controls and oversight on the Binance.US platform; and offers and sells unregistered securities.

Meanwhile, Kraken, another crypto exchange charged by the US regulator challenged its allegations in a response. It demands a jury trial and question the SEC’s classification of 11 cryptocurrencies as securities, a court filing shows. These 11 crypto coins are Solana, Cardano, Algorand, Cosmos Hub, Filecoin, Flow, Internet Computer, Decentraland, Polygon, Near Protocol and OMG Network.

US works hard to obtain the release of Binance executive jailed in Nigeria

US diplomats work hard behind the scenes to obtain the release of the Binance executive jailed in Nigeria since the end of February, the New York Times reports. Tigran Gambaryan is accused of money laundering by the Nigerian authorities.

The price of Binance Coin dropped 1.3 percent to $547 over the past 24 hours.

Solana’s liquid staking market could reach $10 billion soon - Bybit

The liquid staking market of Solana could reach $6 to $10 billion in the near future, according to Bybit.

“Despite Solana's impressive staking ratio of 68%, liquid staking adoption remains relatively low, with only 6.5% of SOL staked through this method. This presents a significant growth opportunity, especially when compared to Ethereum, where nearly one-third of staked assets are through liquid staking,” Bybit said.

The price of Solana shed 4.4 percent to $131 over the past 24 hours.

Tether’s stablecoin is property, UK high court rules

USDT, the stablecoin issued by Tether, was last week recognized as property by the British High Court of Justice. This means that USDT can be regarded in a manner similar to tangible and intangible assets in legal proceedings.

“USDT attract property rights under English law. It is neither a chose in action nor a chose in possession, but rather a distinct form of property not premised on an underlying legal right. It can be the subject of tracing and can constitute trust property in the same way as other property,” judge Richard Farnhill ruled.

Tether, the largest stablecoin with a market cap exceeding $118 billion, is in the firing line of Consumers’ Research. The US consumer protection association alleges that Tether isn’t transparent enough as for its dollar reserves, failing to release a complete audit conducted by a renowned accounting firm. 

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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.