🌧 Drizzle will linger over Bitcoin and Polygon in the next 24 hours, signaling slightly bearish market conditions, while a timid sun 🌥 will shine over Ether, Binance Coin and Ripple’s XRP. This translates into slightly bullish market conditions. 

☀️Cardano, Dogecoin and Uniswap will profit from a strong sun or a bullish mood.

🌧 Over a one-week time horizon, Bitcoin will continue to face drizzle, while rain will fall over Cardano and Dogecoin, indicating bearish market conditions.

The trading signals available at 7:40 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 as risk assets are dumped; Bitcoin fell below $56,000

The cryptocurrency trend was negative over the past 24 hours as investors sold riskier assets ahead of the afternoon’s US job data. Investors fear weak figures, indicating that the world’s largest economy is slowing more than expected and a recession might be looming.

The price of Bitcoin dropped 1.2 percent to $56,486 over the past 24 hours, and hit a one-month low below the $56,000 threshold on Thursday, Trading View’s Bitcoin chart shows.

“The Short-Term Holder cohort remains heavily underwater on their holdings, making them a source of risk for the time being," the crypto research firm Glassnode said.

“If Bitcoin were to produce the historically recurring -7% drawdown during this September as well... That would mean Bitcoin would drop into ~$55,000 again,” the crypto profile, @rektcapital said.

Ether & Solana also under pressure

“Ether's weakness has been driven by declining revenues and lower fees within the Ethereum ecosystem due to reduced user activity. A similar trend is emerging with Solana, where DEX usage has plummeted following the meme coin hype,” 10xResearch said in its daily note.

The price of ETH fell of 1.3 percent to $2,381 over the past 24 hours, while that of Solana declined $1.8 percent to $130.

Solana’s Pump.fun memecoin generator overtakes pole position from Tron

The memecoin generator of Solana, Pump.fun, has retaken the first place from Tron’s competing SunPump, Decrypt reports. Both generators have pumped out thousands of memes over the past weeks. The price of Tron was unchanged at $0.14.

Telegram’s indicted CEO comments on allegations of illegal content

Pavel Durov, the CEO of Telegram, for the first time commented on his indictment by the French authorities last month. He is accused of failing to prevent illegal content relating to drug trafficking, fraud, promotion of terrorism and more on the social messaging platform.

The Telegram team developed Toncoin, the sixth-largest cryptocurrency in terms of market cap, but has since cut its ties to the crypto asset.

“Telegram’s abrupt increase in user count to 950M caused growing pains that made it easier for criminals to abuse our platform. That’s why I made it my personal goal to ensure we significantly improve things in this regard,” Durov said.

The price of Toncoin rose 7 percent to $4.89 over the past 24 hours.

Mastercard to offer a crypto debit card

Mastercard will offer a virtual debit card, named Spend, that will enable its user to pay using more than 40 cryptocurrencies at the more than 100,000 merchants accepting its cards, the Block reports. The service will for now only be available in the European Economic Area (EEA).

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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.