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Crypto Technical Analysis Report | 1st November 2024
- Bitcoin (BTC) experienced a market-wide pullback amid cautious optimism among traders ahead of the upcoming U.S. Presidential election and dropped below $70k after hitting $72k the previous day.
- Major altcoins like Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) traded in the red.
- CoinMarketCap’s Market Fear & Greed Index showed a reading of 59 (Greed) out of 100.
- Coinbase shares fell 15.3%, following underwhelming earnings and a weak revenue outlook for the quarter.
- BTC saw an 11% rise in October, closing at $72,335, though it didn’t reach the average 22% gain typically seen.
- Ether’s price struggles to surpass $2,700, while investors evaluate what it would take to reach $3,000.
- Bitcoin whales reduced their BTC holdings, indicating increased volatility ahead.
- Asia’s share of crypto developers surged to 32%, positioning it as the leading region for crypto developer talent.
- MicroStrategy aims to raise $21 billion in equity and an additional $21 billion in debt to support a multibillion-dollar Bitcoin buying spree.
- ZebPay blogs provides crypto wisdom and features to discover and explore.
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