Market preview
The market capitalization of the cryptocurrency climbed 4% in the last day to 4.07 billions of dollars. Capitalization has climbed into the extreme area, above which it was only briefly in mid-August and mid-September. Cryptocurrency investors are convinced that the closure of the United States government does not lend the risk appetite and that macroeconomic data push the Fed to relieve its policy.
The feeling index has increased to 64 (greed), reaching its highest level in the past six weeks. However, the index is far from extreme greed, leaving a significant potential for additional strengthening.
Thursday morning, Bitcoin exceeded $ 118,000, exceeding the previous summits, which indicates a significant technical breakthrough of the established beach. The next step may well be an attempt to update the historic heights approaching $ 125,000. At the same time, it is worth paying attention to the activity of long -term sellers, who are actively sold near these levels since July: we can see a new episode of upward sales.
New context
The total offer of Stablecoins increased by a record of $ 45 billion in the third quarter, according to Cex.io. At the same time, 69% of the “printed” volume was issued on the main Ethereum network.
According to Cryptochant, the growth of the stablescoins supply creates a powerful base for a bull market. Historically, Bitcoin joined not only in October, but throughout the last quarter of the year.
The main factors that could trigger a rally in the fourth quarter cryptography market could be changes in the regulation of digital assets in the United States and expanded access to the cryptography market thanks to stock market products, according to Graycale.
The total Bitcoin reserves of the Japanese company Metaplanet reached 30,823 pieces, placing it in fourth place among all business BTC holders.
According to Onchain Lens, Tether, the transmitter of the USDT, has reconstructed its Bitcoin reserve with 8,889 BTC worth $ 1 billion. Since May 2023, the company allocates 15% of its net profit to the purchase of BTC as part of its strategy for diversifying long -term assets.
Stani Kulechov, founder of the main AAVE loan platform, said that the lower interest rates of the world central banks will create favorable conditions for the growth of yields in the DEFI sector and could arouse a renewal of interests for decentralized finances.
