COIN360 5 minutes reading from Bitcoin

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin: Price Weekly Wrap-Up

0/ In the week of Oct. 19-28, the crypto market saw a breakout that sent BTC to its highest level since Sept. 13.

This rally led to a massive 1.1B total liquidations, which short traders losing 979M across the markets.

The upside momentum then paused due to disappointing

1/ earnings reports from tech giants and a stronger-than-expected report on the U.S. economy's health.

The bulls are looking forward to a more dovish Fed in the upcoming FOMC. It remains to be seen if markets consider such a shift sufficient for a short-term sentiment change.

2/ Before digging deeper into more details...

@COIN360com is glad to announce that our Head of Business Development @Yun83730154 will be speaking at the @WOWsummitWorld

For tickets and more information about this striking web3 event:

Lisbon, Nov 2022 | WOW SUMMIT

3/ DOGE (+44%) has been skyrocketing thanks to @elonmusks @Twitter takeover.

On Wednesday Musk changed his Twitter bio to "Chief of Twit," and DOGE soared by 10% within 24h.

OP (+74%) outperformed most of the altcoins, but the reason for such growth wasn't clarified yet.

4/ AAVE (+4.4%) amid the details about @AaveAaves GHO decentralized stablecoin upcoming launch.

SUSHI (+24%) after @sushiswap announced a legal structure for its DAO through three entities based in the Cayman Islands and Panama.

5/ MKR (-14%) closed its historic week with controversy sparked around the "endgame" proposal.

@MakerDAOs token saw gains in the previous weeks despite the plummeting revenue in Q3 2022 due to a fall in loan demand and liquidations, while expenses have remained high.

6/ AXS (-5%) amid concerns of a token unlock that distributed ~21.543M tokens for early investors and advisors on Oct. 24. After receiving 437,500 tokens, @arca sent them to @FTX_Official

@AxieInfinity token lost 200M of its market cap and posted a new 52-week low of 8.23.

7/ Crypto futures OI has been rising with BTC & ETH futures gaining more than 3B in contracts opened.

BTC & ETH recent gains caused a massive short squeeze, but market liquidity data & funding rates across exchanges suggested that substantial short positions are still here.

8/ Short traders are targeting Bitcoin & some altcoins, especially DOGE with an average funding rate of -0.0511% across exchanges.

There's a good chance of another small bounce to the 21,500-22,000 region before the Fed rate hike and mid-term elections in the U.S.

9/ Notable news:

@Binance confirmed as investor in @Twitter takeover, as Musk reportedly plans to take reins as CEO:

Largest public Bitcoin miner @Core_Scientific says it may seek bankruptcy:

Binance confirmed as investor in Twitter takeover, as Musk reportedly plans to take reins as CEO
Bitcoin Miner Core Scientific Says It May Seek Bankruptcy

10/ Crypto exchange @HuobiGlobal to delist HUSD stablecoin:

@Visa files trademark applications for crypto wallets, NFTs and the metaverse:

Crypto exchange Huobi to delist HUSD stablecoin
Visa Files Trademark Applications for Crypto Wallets, NFTs and the Metaverse

11/ More market insights and infographics? Subscribe to our free newsletter and head over to our News section:

A more detailed version of this thread will be shared on our Telegram channel.

Get the latest cryptocurrency news today + daily Bitcoin and Ethereum updates, live price charts and market commentary

12/ Join us on Twitter and Telegram for the latest updates (we also provide you with a collection of insights from thought leaders in the Telegram channel every day 😉).

Telegram chat:

Telegram announcement:

COIN360 news
This post is based on this twitter thread.


Please login to comment.