​​Institutions Remain Bullish on Cardano and ETH while BTC Demand Declines

Institutional demand for Ethereum and Cardano investment products massively increased last week.

However demand for Bitcoin products declined according to data from institutional asset manager CoinShares.

Altcoins-based Investment product received institutional investment up to $24 million which is 14.3% compared to the previous week’s $21 million.

ETH-based products recorded inflow of $17.2 million while Cardano-based recorded $10.1 million.

​​📉 Daily Bitcoin chart review 📈

So far Bitcoin HL not violated so chances for the bounce stay open 👍 Month VWAP moved to 47080 and now together with MA144 support the price.

Situation at day tf looks almost the same as August 18th so it gives a hope for the same continuation. Wouldn't count on that too much, but so far alts are following Ethereum, and that push BTC price action to background.

Global structure the same - cross below 46250 can cause retracement to 44k. While above we may see re-test of ~49k again.

🟥 48300 - 49830 - 50600
🟩 46250 - 45850 - 43800

MAVW:
4H 48300 🔻➡️
D 36905 ⏏️↗️
VWAP (M): 47080

😱 Fear & Greed index: 71 (<= 73 <= 73 <= 72)

​​The Latest Breaking News 📣

#1 Centre Consortium announces new team to create 'global network of stablecoins' — link

#2 FTX US to launch crypto derivatives after LedgerX acquisition — link

#3 Syndicate has raised $20 million in a Series A round led by Andreessen Horowitz — link

#4 El Salvador’s legislative assembly has approved a $150 million Bitcoin fund — link

#5 MetaMask surpasses 10M monthly active users — link

​​📈 Market Overview

Crypto markets have hit the ground running right from the start of November and as of Nov. 2, a near uncountable number of tokens have rallied to swing highs as Ether broke above the $4,500 level and Bitcoin recaptured the $64,000 level.

The Top-10 cryptocurrencies are traded in green zone. Solana +10.6%, XRP +8.1%, Ethereum +4.1%

Market capitalization: $2.86T (+3.39%)
The BTC dominance: 41.44% (-1.41%)
Fear & Greed Index: 76 (Extreme Greed)

​​Argentina's Largest Futures Market Is Into Bitcoin

Matba Rofex, the biggest futures market in Argentina, is seeking regulatory approval in order to launch cash-settled Bitcoin futures.

The National Securities Commission will review the proposal but will not prioritize it, according to an Oct. 1. Apart from Bitcoin, Matba Rofex is also exploring similar products for other cryptos.

While Argentinians are able to trade such a product on unregulated exchanges, regulated Bitcoin futures are not available in the country.

#dailynews

​​SubDAO (GOV) will have a public sale round starting November 3. GOV token sale will launch on SubDAO official website on November 3rd. The sale softcap/hardcap: $7M-$15M. Token price: $0.15-$0.3 depending on the amount of USDT committed. The total token supply: 1B GOV. GOV token will also be available for sale via Bounce Finance, Gate and MEXC. SubDAO aims to develop a DAO infrastructure based on Polkadot. It will allow any decentralized organization to create and manage DAOs.

​​Huobi will host Immutable X (IMX) token sale round on November 5th. 6M IMX (0.3% of total supply) to be sold. 3M IMX to be sold via lottery (2.4k lucky slots) and another 3M IMX will be sold via proportional model among HT holders. IMX/USDT trading pair will go live on the same day, November 5th.

​​CryptoCom Protocol (CRO) is launching on Coinbase Pro on November 3. Trading will begin on or after 9AM Pacific Time (PT) Wednesday November 3, if liquidity conditions are met.

​​The Latest Breaking News 📣

#1 CME Group to launch micro Ether futures on December 6 — link

#2 Microsoft’s own Metaverse Is coming, and It will have PowerPoint — link

#3 SoftBank leads $93 million investment in NFT gaming firm the Sandbox — link

#4 Ethereum Name Service announces governance token plan — link

#5 Chipper Cash gets $2B valuation with $150M extension round led by FTX — link

​​It retested above the cup and handle neckline and move upward as we have seen a very good gains in ALTS.

RSI is currently in the oversold region, showing bearish divergence while MACD is showing bullish strength.

We might see a short term correction but we are bullish in mid and long terms.

​​💬 Chat chart request 💬

AVAX forming potential cup and handle (or it may also be read as inverted head and shoulders). This pattern doesn't always play out. Probably because it is so popular and too many traders see it. This is why it often pumps out and then dumps hard back below breakout area. For us it means that we buy re-test of broken SR and the dips below it.

​​AscendEX will list Covalent (CQT) on November 3rd. CQT/USDT trading pair will go live at 1:00 p.m. UTC.

​​ENS Domains introduced its governance token and will airdrop 25% of ENS supply to its users. The 25% of the total token supply will be distributed to all registrants of .ETH second-level domain. Claims will open on November 8, 2021.

​​AscendEX has raised $50M in a Series B funding round. Co-led by Polychain Capital and Hack VC, the fundraise also saw participation from Jump Capital and Alameda Research. Launched as BitMax in 2018 and rebranded in March this year, AscendEX offers cryptocurrency futures and spot trading, custody, and staking services.

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​​📈 Market Overview

A sea of green among altcoins comes as Bitcoin preserves its own gains, which have taken it past $62,000.

The Top-10 cryptocurrencies are traded in different directions. Dogecoin -2.1%, Polkadot +6.2%, Solana +4.6%

Market capitalization: $2.88T (+1.02%)
The BTC dominance: 41.00% (-1.81%)
Fear & Greed Index: 73 (Extreme Greed)

​​"Buy Bitcoin" on Google Trends is currently at a 35 over the last year despite #Bitcoin being right below all time highs

This divergence shows that the price is moving up, but the mass-interest & greed hasnt returned yet

This is a bullish sign that we are nowhere near the top

​​SEC starts the clock for Grayscale Bitcoin ETF conversion, first possible date for approval is Dec 24


https://www.sec.gov/rules/sro/nysearca/2021/34-93504.pdf

​​Coinbase doesn't wanna fall behind, adds up SHIB trading pairs 😂