☀️  A strong sun will shine over Bitcoin in the next 24 hours, signaling bullish market conditions, while a timider sun will shine 🌥 over Ether, Cardano and Polkadot in the next 24 hours.

🌧 Bearish market conditions will prevail over Binance Coin, Avalanche, Uniswap and Dogecoin, as rain is expected.

🌧 Over a one-week time horizon, drizzle will linger over Bitcoin, Solana, Cardano and Dogecoin, while rain will fall over Litecoin and Polkadot.

The trading signals available at 7:15 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 rebound ahead of tomorrow’s US job data

The cryptocurrency market showed positive momentum over the past 24 hours, recovering some of the sharp losses sustained during yesterday’s trading session.

Investors now await cues from the upcoming US job figures being released tomorrow. Analysts expect 160,000 jobs to have been created outside the US farming sector in August, up from 114,000 jobs in July.

This growth suggests a soft landing for the US economy and could signal a slower pace of interest rate cuts lying ahead. The probability of a 50 basis point cut by the Federal Reserve at its upcoming meeting in two weeks has dropped to 55 percent from 66 percent a week ago, CME Group’s forecasts show.

The price of Bitcoin rose 1 percent to $57,277 over the past 24 hours, while that of ETH put on 1.4 percent to $2,417, Trading View’s Bitcoin chart shows.

Democrats step up efforts to charm pro-crypto voters

Future Forward PAC, the super political action committee (PAC) that backs the Democrat presidential candidate Kamala Harris, will start accepting donations in cryptocurrencies, Reuters reports. A PAC is a tax-exempt organization that pools federal election campaign contributions.

Meanwhile, pro-crypto Democratic supporters plan to hold at least eight fundraisers in Washington, Chicago and New York in the coming weeks, Bloomberg reports. Harris' stance on cryptocurrency, however, remains unclear.

Her chances of winning in November have dropped to 46 percent, while the odds of a Republican victory have risen to 53 percent, the betting site Polymarket shows.

Crypto ETFs continue to bleed

The 12 spot Bitcoin exchange traded funds (ETFs) listed in the US have posted outflows totaling almost $800 million dollar over the past six trading days, data from Sosovalue shows. The outflows from the nine spot Ether ETFs add up to more than $110 million over the same period.

Trump’s World Liberty Financial targets mass adoption of stablecoins & crypto

World Liberty Financial, a project backed by the Republican presidential candidate Donald Trump, targets the mass adoption of stablecoins. The project is led by his sons Eric and Donald Trump Jr.

“Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance. We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone, “ World Liberty Financial writes on its Telegram channel.

Their goal is making US-pegged stablecoins the world’s settlement layer over the coming decade, now that it notably is under threat by the BRICS countries. They are looking for alternatives to the US dollar and for greater use of local currencies.

“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,“ World Liberty Financial adds.

Nigerian court decision on bail plea of Binance executive deferred to Oct 9

The bail application for Tigran Gambaryan, a Binance executive who has been detained by Nigerian authorities for over six months, has been deferred to Oct 9. He appeared in court earlier this week, but no decision was taken.

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

The price of Binance Coin strengthened 0.9 percent to $518 over the past 24 hours.

Upgrade of Polygon’s MATIC token carried out

Polygon’s MATIC tokens were upgraded to its new POL tokens on a 1:1 basis overnight. No action is required by users as the upgrade will be automatic.

“In the initial phase, POL succeeds MATIC as the native gas and staking token for the Polygon PoS [proof-of-stake] network. In subsequent phases, POL will serve a crucial role in the AggLayer [aggregation layer],” Polygon said, adding the upgrade is expected to be seamless given the testnet upgrade executed mid-July took place without any glitches.

The price of Polygon fell 3.3 percent to $0.38 over the past 24 hours.

Uniswap Labs fined by CFTC

Uniswap Labs was fined $175,000 by the Commodity Futures Trading Commission (CFTC) for illegally offering “leveraged or margined retail commodity transactions in digital assets through a decentralized digital asset trading protocol.”

The price of Uniswap rose 3.8 percent to $6.35 over the past 24 hours.

Japan plans to cut its crypto tax rate to 20%

The Japanese government considers cutting the tax rate imposed on crypto earnings to a flat 20 percent from the current 15 percent to 55 percent, CryptoNews reports. The current tax rate imposed depends on the income bracket in which the individual investor falls.

Ex-Mt. Gox CEO to launch a new crypto exchange

Mark Karpelès, the former CEO of the defunct crypto exchange Mt. Gox, launches a new one, which has been named EllipX.

“Je suis de retour (I’m back),” Karpelès laconically said without giving any further details.

The bankruptcy of the Tokyo-based exchange Mt. Gox, triggered by the theft of more than 600,000 Bitcoins, rocked the cryptosphere a decade ago.

Switzerland’s 4th-largest bank now offers crypto trading & custody

Zürcher Kantonalbank (ZKB) as of yesterday offer trading and custody of Bitcoin and Ether. The cantonal bank also stores the private keys of its clients, which means that they (and third-party banks) don’t need to manage their own wallets and worry about the safe keeping of private keys.

“Our newly launched crypto offering provides a high level of security and allows the integration of additional currencies and applications,” said Alexandra Scriba, Head of Institutional Clients & Multinationals at ZKB.

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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.