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Analysts Confident Bull Market Will Continue Despite Extreme Fear
Bitcoin & Altcoins

Analysts Confident Bull Market Will Continue Despite Extreme Fear

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Retail fear is at extreme levels, but the experienced traders and analysts say there is no need to panic yet. 

The crypto Fear & Greed Index fell to its lowest level since April over the weekend following Bitcoin’s crash below $104,000 on Friday.

The market sentiment indicator registered “extreme fear” with a rating of 23 on Saturday and has climbed to 29 on Sunday, but remains deep in “fear” territory.

Market sentiment has not been this bad since the April crash, which was caused by US President Donald Trump’s tariff announcement. Back then, around $500 billion was wiped off the total market capitalization, and Bitcoin tanked to $76,000.

October has been worse, with $900 billion exiting markets in a record leverage flush last weekend. Bitcoin also deepened its correction, dumping 17% from its all-time high on Oct. 6.

Don’t Panic Yet

Markets have yet to recover from last week’s crash, and total cap remains at a three-month low of $3.72 trillion. Nevertheless, most experienced analysts and traders remain unconcerned, having witnessed these types of bull market corrections numerous times before.

Bitcoin has been in an “incredibly steady and solid up trend this cycle,” said ‘Daan Crypto Trades.’ “Even with this recent decline, there’s no big change in market structure yet. But we are at a critical area,” he added.

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“For me, a move back below $100K would mean this is due for a larger and longer correction. At that point, there will be many doubts about whether the cycle is done or not.”

BTC needs to “rise from the ashes of last week’s events” to get momentum going again, he said.

Analyst ‘Sykodelic’ said markets are still in an uptrend, observing that every decline has hit the 50-week simple moving average, and bounced back as it did last week.

“There has been mass fear in the market, with the majority panic selling and everyone saying it is over,” they observed.

Meanwhile, analyst ‘Crypto₿irb’ noted that extreme fear has struck for the fourth time this cycle as ETFs were rushing to sell, and October is deep in the red.

“In short, pressure builds at the bottom. BTC trades near $107K, fear peaking, volatility rising. ETF liquidity still strong, miners steady […] The market’s coiling up for an even larger wave. When fear peaks, volatility wins.”

Analyst ‘Mr Anderson’ was also confident that the bull market wasn’t over, predicting a cycle peak of $148,000.

Crypto Market Outlook

There has been little change in crypto markets over the past 24 hours. Bitcoin has been trading in a very tight range between $106,000 and $107,000 and has failed to break support turned resistance at $108,000.

Ethereum spiked above $3,900 on Saturday but couldn’t hold it and fell back to the $3,850 level, also failing to break resistance above $4,000. The altcoins remained battered and bruised with very little movement in either direction this weekend.

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Here Are Seven Vital On-Chain Signals Spotted From Recent Crash
Bitcoin & Altcoins

Here Are Seven Vital On-Chain Signals Spotted From Recent Crash

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns
Bitcoin & Altcoins

China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns

by admin
written by admin

Chinese technology giants, including Ant Group and JD.com, have reportedly suspended plans to issue stablecoins in Hong Kong after regulators in Beijing voiced concerns over privately controlled digital currencies.

The companies were instructed by the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) to pause these initiatives, the Financial Times reported on Sunday, citing sources familiar with the matter.

“The real regulatory concern is, who has the ultimate right of coinage — the central bank or any private companies on the market?” one source familiar with the discussions told the FT.

Both companies had expressed interest earlier this year in joining Hong Kong’s pilot stablecoin program or launching tokenized financial products such as digital bonds.

Related: Trump confirms US is in a trade war with China

Hong Kong’s stablecoin push hits a snag

Hong Kong began accepting applications for stablecoin issuers in August. Mainland officials had initially viewed the program as an opportunity to promote renminbi-pegged stablecoins and expand the yuan’s international footprint.

However, the momentum soon slowed down as Ye Zhiheng, executive director of the intermediaries division at the Hong Kong Securities and Futures Commission (SFC), warned that the city’s new stablecoin regulatory framework has heightened the risk of fraud.

People’s Bank of China Headquarter, Beijing. Source: Wikimedia

Ye’s remarks followed stablecoin companies operating in Hong Kong posting double-digit losses on Aug. 1, just after the new stablecoin regulation came into force.

Last month, Chinese financial outlet Caixin reported that Beijing had restricted Hong Kong’s stablecoin activity. However, the report was removed shortly after publication, casting doubt on its claims.

Related: US and China soften trade rhetoric, giving analysts hope of market rebound

China U-turns on Hong Kong tokenization push

Last month, China’s securities watchdog also reportedly instructed several local brokerages to pause their real-world asset (RWA) tokenization activities in Hong Kong, signaling Beijing’s growing unease with the rapid expansion of offshore digital asset ventures.