🌧 Drizzle will linger over Bitcoin, Ether, Binance Coin and Uniswap in the next 24 hours, signaling slightly bearish market conditions. However, a timid sun 🌥 will shine over Cardano, Ripple’s XRP, Dogecoin and Polkadot. This indicates a slightly bullish trend.

🌧 Over a one-week time horizon, Bitcoin will continue to face drizzle, while Cardano will continue to profit from a timid sun, just as Ether and Solana.

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 amid Middle East tensions & lack of new Chinese stimulus measures

The cryptocurrency trend was negative over the past 24 hours due to heightened geopolitical tensions in the Middle East, which dampened investor sentiment. Additionally, risk assets faced further pressure as Chinese authorities, contrary to expectations, refrained from announcing new stimulus measures earlier today.

Investors now await the release of US inflation figures on Thursday. Analysts expect an unchanged core inflation at 3.2 percent, and inflation at large to have dropped to 2.3 percent in September from 2.5 percent the previous month.

“With the recent [release of] strong US wage and jobs numbers, the market will be paying close attention… for any signs of an uptick in inflation. Fed rate cut expectations have shifted from 50 bps to 25 bps in just a week and this week's [inflation] data may determine if further cuts get priced out,” the Singapore-based crypto firm QCP Capital said.

The price of Bitcoin was down 1.2 percent at $62,702 over the past 24 hours, Trading View’s Bitcoin chart shows.

In the US, the odds of a Republican presidential victory now stand at 54 percent compared to 48 percent mid-September, according to the blockchain-powered prediction platform Polymarket. If this outcome materializes, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), is likely to be replaced by the CEO of the crypto exchange Robinhood, Dan Gallagher, Politico reports.

FTX’s bankruptcy plan is approved by judge – clients to recover $16 billion in assets

The bankruptcy plan of the FTX crypto exchange was approved by a Delaware-based judge yesterday, the Block reports. Clients who held less than $50,000, 98 percent of FTX’s creditors, will receive at least 118 percent of their claim value, Reuters reports. The pay outs will be made using the up to $16.5 billion in recovered assets.

Solana memecoins’ market cap now above $10 billion

Solana dominates the memecoin market, with 87 percent of new tokens appearing on decentralized crypto exchanges (DEXs) now trading on the Solana blockchain, the Block reports. Solana memecoin generator Pump.fun was launched in less than a year ago, in January.

The market cap of Solana’s memecoins for the first time exceeded the psychological $10 billion threshold on Monday, data from CoinGecko shows. Dogiwifhat (WIF) is the largest memecoin trading on the Solana blockchain, with a market cap exceeding $2.7 billion.

The price of Solana dropped 3.4 percent to $144 over the past 24 hours, and that of WIF fell by 2.8 percent to $2.57.
Number of Tether users rose by 24% over the past year

The number of people using USDT rose by 24 percent over the past year to 350 million and by 50 percent over the past two years, the issuer of the stablecoin USDT, Tether, announced yesterday, which coincided with its 10th anniversary. The market cap of USDT is approximately $120 billion, making it the largest stablecoin.

“To commemorate Tether’s first decade and its vision for the next 10 years, the company will soon be releasing a documentary ‘Stability and Freedom in Chaos’ that highlights Tether’s impact in countries such as Brazil, Argentina, and Turkey, where USD₮ has become a crucial lifeline for millions, fighting inflation and fueling financial freedom worldwide,” Tether said.
If you have any feedback or tips that you would like to share to improve this report, please send an email to input@lykke.com.

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.