Cryptocurrencies Are Preparing for a Volatile Movement

 Cryptocurrencies Are Preparing for a Volatile Movement

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Bitcoin is still stagnant.

Bitcoin finished at $19,168 on Sunday, September 25, as it continues to consolidate around a critical support level.

BTC is gaining momentum and poised to test the 200-week moving average at $23,000, according to technical indicators. Whether a break or rejection occurs around this important resistance barrier remains to be seen.A weekly candlestick close above the 200-week moving average might signal the start of a fresh uptrend toward the $50,000 50-week moving average. Failure to cross this barrier, on the other hand, may act as a sign of weakness, encouraging profit-taking and sending Bitcoin down to the $19,000 support level.

 Cryptocurrencies Are Preparing for a Volatile Movement

The unclear view is also visible in well-known bitcoin exchange wallets. Indeed, the movement of BTC tokens into and out of these addresses appears to have leveled out. Over the last week, the balance on exchanges has stayed stable at roughly 2.40 million BTC.

Open Interest for BTCUSDT on Binance Futures varied dramatically at the start of the week but finished on Sunday, Sep 25, at 120,221.27 BTC with a notional value of $2.27 billion. Despite the fact that Taker Sell Volume finished slightly higher than Taker Buy Volume on September 25, around 67.34% of all accounts with an open position in BTCUSDT were net long on this day.

News Recap

Cardano's long-awaited Vasil hard fork has finally gone live, improving network capacity and making transactions quicker but costlier. Plutus upgrades were also added as part of the network update, allowing developers to design more powerful dApps. (ADABUSD trade)

Combating Crypto Crime - The US Department of Justice (DOJ) formed the "Digital Asset Coordinator (DAC) Network," a team of federal prosecutors comprised of over 150 prosecutors whose objective is to "fight the rising threat presented by the unlawful use of digital assets to the American people."

Increasing Coverage - Helium collaborated with T-Mobile, one of the largest telecommunications providers in the United States, to develop Helium Mobile, the world's first "cryptocarrier," and expand coverage across the country. (HNTUSDT trade)

Horizon System, a DeFi protocol for producing and trading borderless synthetic assets, has successfully integrated Chainlink Keepers on the BNBChain mainnet to safely and cost-effectively automate the timely delivery of Horizon Exchange fees and staking rewards to HZN stakers. (LinkBUSD Trade)

Participate in This Week's Activities

Binance Futures has announced the Taker Program, which offers up to a 20% taker fee discount on all USDT-Margined Perpetual and Delivery Contracts through October 31.

Fee Reduction - Binance Futures has extended the fee reduction for BUSD-Margined trading pairs to all new and current customers until October 31.

Binance Futures issued a content competition, inviting creatives to create movies, essays, or infographics explaining why cryptocurrency holders should consider trading futures on our platform. Now is the time to submit your material for a chance to win $300 USD.

Exchange Our New Listings

Binance Futures has released USDT-Margined LDO and CVX Perpetual Contracts with up to 25x leverage.

Quarterly Futures Contracts - USDS-M BTC and ETH Quarterly 1230 Contracts are available on Binance Futures. Please keep in mind that the USDS-M Quarterly 0930 Contracts will expire and settle on September 30.

Binance added GLM, NEBL, and VIB as new borrowable assets on Cross Margin, as well as GLM/BUSD, NEBL/BUSD, and VIB/BUSD as new Cross and Isolated Margin pairings.

New Improvements

Binance has finished the distribution of Ethereum Proof-of-Work (ETHW) tokens to qualifying ETH and WETH holders.

Binance Futures has released a Heatmap Widget that shows real-time data in the form of blocks that are automatically grouped by trading volume and percentage price change for the top 30 USDS-M or COIN-M Perpetual Contracts in Binance Futures.

Binance has increased the maximum deposit limitations for margin assets that may be utilised when trading USDS-M Futures in Multi-Assets Mode.

***Please keep in mind that Binance urges our users to trade responsibly. Trading may be exciting and entertaining, but it is also a serious industry that can cause financial and emotional hardship. Trading futures entails risk, and the prices of cryptocurrencies and other digital assets are frequently volatile.