Recurring market commentary on what’s happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG.
The overall situation for Bitcoin (BTC) is calming down now towards the weekend, and the trading range is currently moving within the $2’000 level.
Bitcoin BTC (daily)
Ethereum (ETH) is definitively in the spotlight. This is due to the traded volume and the open interest of derivatives products. In general, the spread between both coins is still trading at the resistance level of 0.069. Currently, the most prominent option strike in ETH is the $5’000 strike; in bitcoin it is still the $50’000 strike.
Ethereum ETH (daily)
Altcoins have found solid ground, and some of them have even started to rally, catching up a bit to the performance BTC and ETH experienced a couple of days ago. So far, the constituents of the Mid and Shit indices of the FTX exchange are showing the potential to break through the resistance level if the overall market holds and does not retest the lows we saw at the end of July.
Altcoin Segments (BTC, ALTPERP, MIDPERP, SHITPERP, DEFIPERP)
The raising of investments in the cryptocurrency space continues. FalconX, a digital asset and cryptocurrency financial services company, which provides institutional trading, credit, and clearing across major venues, announced a $210m Series C financing round. This now leaves FalconX at a valuation of $3.75bn!
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