🌧️  Rain will fall over Bitcoin in the next 24 hours, translating into a bearish trend, ⛅ while Ether, Cardano, Ripple’s XRP and Binance Coin will profit from a timid sun, indicating slightly bullish market conditions. Drizzle or a slightly bearish trend will linger over Litecoin.

🌧️ Over a one-week time horizon, the bearish trend will extend to Ether, Solana, Ripple’s XRP and Binance Coin. The rain will also continue to fall over Bitcoin.

The trading signals available at 7:10 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 trade mixed, with Bitcoin chugging upwards

Bitcoin extended its gains over the past 24 hours, driven by renewed investor optimism and interest in riskier assets. This positive momentum follows the better-than-expected results from the first batch of third-quarter earnings, coupled with an increasing embrace of crypto by both US presidential candidates.

The price of Bitcoin approached $68,000 threshold for the first time since end-July. It was up 2 percent at $67,004 over the past 24 hours, Trading View’s Bitcoin chart shows. Standard Chartered Bank now believes that Bitcoin could reach a new all-time high (ATH) before the US presidential election on Nov 5, Decrypt reports. Bitcoin currently trades nine percent below its ATH reached mid-March.

“With Kamala Harris and Donald Trump both increasingly viewed as pro-crypto, the election could be positive for the market regardless of the outcome. The absence of major inflation or labor data in the near term presents an opportunity for crypto to rise with lower risk premiums. This outlook is further supported by the Bitcoin spot ETF, which recorded a net inflow of $555 million on Monday ­– the largest since June 4,” the Singapore-based crypto firm QCP Capital noted.

On Polymarket, the blockchain-powered prediction site, Donald Trump now leads over Kamala Harris by more than 16 percentage points at 58.1 percent, a new record.

Ripple’s stablecoin RLUSD launched

Ripple Labs launched its US dollar-pegged stablecoin, RLUSD, as previously announced on Tuesday. Ripple is one of several fintech companies competing for a share of the rapidly growing and lucrative stablecoin market. PayPal's PYUSD, which launched in August 2023, now boasts a market cap of $727 million, while Sky (formerly MakerDAO) has listed its own stablecoin, USDS.

First Litecoin ETF application filed

The first application for a spot Litecoin exchange traded fund (ETF) was filed to the Securities and Exchange Commission (SEC) by Canary Capital, a regulatory filing to the SEC shows. The asset manager's move comes less than a week after it submitted a similar application for an XRP ETF.

Litecoin usage is at an ATH, with over 77 million transactions so far in 2024, up from a record 67 million in 2023, the Litecoin Foundation said. The cryptocurrency has a market cap exceeding $5 billion.

The price of Litecoin rose 6.4 percent to $71 over the past 24 hours, while that of XRP fell 1.2 percent to $0.54 over the past 24 hours.

Grayscale plans to convert existing digital fund into an ETF

The asset manager Grayscale has filed an application to convert its Digital Large Cap fund $GDLC into an ETF, Decrypt reports. This fund is currently composed of a basket of the 20 largest cryptocurrencies including Bitcoin, Ether, Solana, XRP and Avalanche.

Trump family’s WLFI token went live

The World Liberty Financial ($WLFI) token of the Trump sons’ crypto project went live yesterday.

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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.