Crypto News

A sale of this size has no meaningful effect on ETH supply or price, coming in at well under 0.1% of daily trading volume. The more relevant support for ETH is around $2,300, where it has been trading, and the broader flow picture: buying from Bitmine is fading, and spot ETF flows matter more than one-off Foundation conversions. A series of larger Foundation sales into weakness would be the scenario that turns this into a genuine supply story.--- Crypto Twitter called it a dump, but the Ethereum Foundation selling $6.4 million of ETH to cover its running costs is a budget line, not a bear signal.Summary:The Ethereum Foundation sold around 2,785 ETH, worth about $6.4 million, for the USDS stablecoin on CoW SwapSocial media posts framed the sale as the Foundation dumping ETHThe sale equals well under 0.1% of a single day’s ETH trading volume, and less than Bitmine bought last weekThe Foundation’s treasury policy sets out regular ETH sales to fund operations when cash reserves fall below about 2.5 years of costsIt cut its 2026 budget by around 40% and stakes about 70,000 ETH to reduce reliance on sales The Ethereum Foundation sold around 2,785 ETH, worth roughly $6.4 million, according to on-chain tracker Onchain Lens, swapping the tokens for USDS, the dollar stablecoin issued by the Sky ecosystem, through the decentralised exchange CoW Swap. Within minutes, crypto Twitter had turned a routine treasury transaction into the Foundation “dumping” ETH. I have read some overblown crypto headlines in my time, but this one deserves a closer look, because the gap between the noise and what actually happened is a useful lesson for anyone trying to trade off on-chain alerts.Start with the size. Around $6.4 million sounds like a lot until you set it against a market that traded more than $8 billion of ETH in the same 24 hours. The sale was well under a tenth of one percent of a single day’s volume. Bitmine, the largest corporate ETH holder, bought nearly four times as much ETH last week alone.The same day, trackers flagged another “sell” alert: a wallet that bought around 100,000 ETH at about $0.31 in Ethereum’s 2014 token sale moved roughly 1,500 ETH, worth about $3.5 million, to exchanges over eight hours. Early holders taking profit after a gain of several thousand times is not news either. Combined, the two moves still amount to well under 0.2% of a day’s trading.Then consider why the Foundation sells at all. It is a non-profit that pays developers, researchers and grants, and it cannot pay salaries in ETH. Its treasury policy, published in June 2025, says plainly that it converts ETH into cash on a regular schedule, through exchanges or on-chain swaps, when its reserves drop below roughly two and a half years of operating costs. Swapping into a dollar stablecoin on a public exchange is that policy in action, not a secret exit.If anything, the Foundation is trying to sell less, not more. It announced a cut of around 40% to its 2026 budget in June and is shifting towards an endowment model, while it began staking about 70,000 ETH in February to earn rewards without selling the tokens themselves. Earlier this year it also sold 10,000 ETH directly to Bitmine in a private deal, which kept the coins off the open market altogether.None of this means Foundation sales never matter. A steady run of larger sales, especially into a falling market, would add real supply. One $6 million swap does not.What to watch next: whether further sales follow from the same Foundation address in the coming weeks, which would point to a bigger quarterly conversion rather than a one-off; the Foundation’s own transparency reports, which should explain its cash needs; and ETH’s response around the $2,300 area, where it has been trading. If ETH holds up through any further sales, that confirms the market sees them for what they are. The practical lesson is simple: before reacting to a “dump” alert, check the size against daily volume and whether the seller has a published reason to sell. This article was written by Eamonn Sheridan at investinglive.com.

The theft is too small to move SOL on its own, but it lands on a fragile tape. SOL has fallen about 14% in October, the weakest of the four largest cryptocurrencies, as spot Solana ETF outflows and a broad pullback from crypto risk weigh on sentiment. The more lasting effect may be on the Telegram trading bot segment, where users give up some control of signing in exchange for speed. If confidence in that model weakens, memecoin and short-term trading activity could ease, and much of that activity runs on Solana.-- A Telegram bot lost nearly $1 million of its users’ SOL in 94 seconds. It says the keys were safe, but the blockchain’s evidence still needs explaining.Summary:Bloom, a Telegram trading bot, says about 9,408 SOL (around $947,000) was drained from 49 wallets belonging to nine users on 26 OctoberBloom attributes the breach to a remote code execution flaw in a third-party module and says no private keys were compromisedBitquery’s tracing found the drain across 48 wallets took 94 seconds and that every transfer was validly signed by the source wallet’s own keySome drained wallets had been inactive for months, and the withdrawals appear to have been organised in advanceBloom will reimburse affected users in full, has paused some services, and advises moving remaining funds to new walletsThe breach is limited to one application, not the Solana network, and is small next to April’s $285 million Drift Protocol exploit Bloom, a Telegram-based trading bot that supports Solana and EVM networks, says an attacker drained about 9,408 SOL, worth roughly $947,000, from 49 wallets belonging to nine users on Monday, 26 October. The company has promised to reimburse every affected user in full and has paused some services while it investigates.The theft is a breach of a single application, not an attack on the Solana network itself. Bloom says the attacker exploited a remote code execution vulnerability in a third-party module, meaning a flaw that allowed outside code to run inside part of the bot’s software. On-chain monitoring service Onchain Lens flagged the outflows to a single receiving address at 04:26 UTC, and early blockchain estimates put the loss slightly higher, at about $954,000.The company’s account and the independent tracing do not yet line up. Bloom says no private keys were compromised and that unaffected wallets are safe. However, blockchain data firm Bitquery found that every transfer was validly signed by the source wallet’s own key, and that the full sequence across 48 wallets took just 94 seconds. Bitquery could not establish how the attacker obtained that signing authority. Some of the drained wallets had been inactive for months, and the order of the withdrawals suggests the targets were organised before the attack began. Until Bloom publishes a root cause, the claim that keys were not exposed should be read as the company’s position rather than a confirmed finding.For users, the episode shows the trade-off behind the convenience. Bots that trade on a user’s behalf need some form of signing access, so a weakness anywhere in their software can put funds at risk, even when the underlying blockchain works as designed. Bloom itself has advised users to move remaining funds to new wallets with freshly generated keys.The loss is small by Solana standards. In April, attackers took about $285 million from Drift Protocol, the network’s largest perpetual futures exchange, in what TRM Labs called the biggest DeFi hack of 2026.The next thing to watch is Bloom’s root-cause report, and in particular whether it explains how validly signed transfers were possible without key exposure. Confirmation that reimbursements have reached all nine users would ease concern. Evidence of wider key exposure would turn a contained incident into a broader question about bot security. Any movement of funds from the receiving address is also worth monitoring, as a sign of whether recovery remains realistic. This article was written by Eamonn Sheridan at investinglive.com.

Last week, the bitcoin buyers had their shot.On Tuesday, they pushed the price above the 100- and 200-hour moving averages—the blue and green lines—and that break gave them the technical go-ahead to probe higher. The buying subsequently took the price above the ceiling near $84,178 and to a weekly high of $84,774 on Wednesday.That was the opportunity for the buyers to take more control. They had cleared the hourly moving averages and broken above a familiar resistance level. The next step was to hold those breaks and build on the upside momentum.They could not do it.The price rotated lower as risk-off sentiment weighed on bitcoin. On Thursday, the decline took the price back below the 100- and 200-hour moving averages, then near $82,225 and $82,400. The bullish technical picture from earlier in the week shifted back in favor of the sellers.The failed rebound helped confirm the shiftOn Friday, the price bounced back toward the 200-hour moving average, but sellers leaned against that level and pushed the price lower into the weekend.That retest is an important part of the technical story.A break below a moving average is an initial bearish development. When the price subsequently returns to that moving average and finds sellers, it provides additional evidence that traders are using the level to define resistance and risk.For sellers, the trade becomes more clearly defined: stay below the moving average and the bearish bias remains intact. Move back above it and stay above, and that bearish view starts to lose support.Friday’s rejection kept the sellers in control. The decline continued to a Saturday low of $79,146.Today, another move lower reached $79,260, just above that weekend low. Buyers have therefore shown some willingness to defend the same general area, but the rebound has been limited. After bouncing to $80,400, the price has rotated back toward $79,779.There is a difference between stopping the decline and taking back control. So far, the buyers have managed the first. They still have work to do on the second.What keeps the sellers in control?The immediate technical barometers are the falling hourly moving averages:100-hour moving average: $80,797200-hour moving average: $81,620As long as the price remains below those levels, the short-term bias favors the sellers.The 100-hour moving average is the first hurdle. Buyers need to get above it and stay above it to show that the recovery has some traction. A move above the 200-hour moving average would provide further evidence that control is shifting back toward the buyers.Why emphasize “stay above”?Because last week provided a reminder that a break alone is not enough. The buyers cleared resistance, but they could not sustain the move. Follow-through matters. A brief push above a level that quickly reverses can leave traders caught on the wrong side and fuel a move in the opposite direction.Sellers still need the next shove lowerAlthough the hourly moving averages favor the downside, the sellers also have something to prove.The weekend low at $79,146 is the next key downside hurdle. Today’s low at $79,260 stalled just above it, making that area the immediate battleground.A break below $79,146, followed by an inability to recover back above it, would strengthen the bearish case and open the door toward the next major technical targets:$76,052: The 38.2% retracement of the move higher from the June 30 low.$75,597: The rising 100-day moving average.Those levels bring the broader daily picture into focus.The hourly moving averages help define the shorter-term trading bias. The retracement and 100-day moving average provide reference points for how far a larger correction could extend. They are potential destinations if selling builds, rather than guarantees that the price will get there.The bigger question: A range break or another failed move?Since September 18, bitcoin has spent most of its time trading between roughly $80,000 and $87,374.Over the weekend and again today, the sellers have made a play below the lower boundary of that range. Now they need to show they can keep the price outside it.A sustained range break should attract follow-through. If the price instead moves back above $80,000, that would be an initial warning that the downside break is losing momentum. However, the buyers would still need to reclaim the hourly moving averages to strengthen their case.That leaves a straightforward technical roadmap.Below the hourly moving averages, the sellers retain the short-term advantage. Below $79,146, they have a chance to extend that advantage toward the deeper daily targets.Conversely, a sustained move above $80,797 and then $81,620 would put the buyers back in the game and raise the risk that the break below the range has failed.Last week, the buyers had their shot and could not sustain the upside break. Now the sellers have theirs.They need to keep the pressure on—or risk giving control back. This article was written by Greg Michalowski at investinglive.com.

Solana extended the losses into a major support zone recently as fears of potential US strikes on Iran weighed on the crypto market. Those fears proved to be unfounded, and we’ve started to see risk sentiment improve as oil prices eased.In the bigger picture, nothing has changed, with the Middle East crisis continuing to put upward pressure on inflation while weighing on global growth. The Federal Reserve is also being forced to maintain a tightening bias, while the upcoming US midterm elections add another layer of uncertainty. These headwinds are likely to limit any major rally in Solana.This week, the focus will be on Wednesday’s FOMC decision and further developments in the Middle East.The Fed is widely expected to keep interest rates unchanged, so a surprise rate hike would likely trigger a sharp selloff in Solana. We won’t get the Dot Plot at this meeting, so the attention will be on Fed Chair Warsh. Given his reluctance to provide forward guidance, though, he’s unlikely to say much, but traders will be watching closely for any hawkish surprises. SOLANA TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Solanabounced near the key support around the 97.00 level. We can expect the buyers to continue to step in around the support, with a defined risk below it, to position for a rally into the 148.00 level. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the major upward trendline next.  SOLANA TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have a downward trendline defining the bearish structure. If we get a pullback into the trendline, we can expect the sellers to lean on it, with a defined risk above it, to position for a drop back into the 97.00 support. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the 113.00 resistance next. SOLANA TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we have a minor falling channel defining the current price action. The sellers will likely continue to lean on the upper bound of the channel, with a defined risk above it, to keep targeting new lows. The buyers, on the other hand, will look for a break higher to pile in for a rally into the major downward trendline next. The red lines define the average daily range for today.UPCOMING CATALYSTSTomorrow we get the US Consumer Confidence report. On Wednesday, we have the FOMC rate decision. On Thursday, we get the US GDP report, the US PCE and the latest US Jobless Claims figures. On Friday, we conclude the week with the US Employment Cost Index. This article was written by Giuseppe Dellamotta at investinglive.com.

Bitcoin ETF demand returned last week, then faded. Now price is testing the ETF buyers’ cost basisMoney came back into US spot bitcoin exchange-traded funds last week, but it didn’t stay. The funds took in about $1.07 billion over the first three sessions, then lost $773.5 million over the final two, according to preliminary Farside data. That left a provisional net inflow of $301.2 million for the week to October 23. Bitcoin, meanwhile, slipped back toward $80,000, close to the level where the average ETF buyer would start losing money.---Earlier:Bitcoin buyers are fighting back, but sellers aren't finished. Here are the two prices swing traders should watchStrategy bitcoin purchases shrink as buybacks take priority ahead of earnings---What happenedThe week opened strongly. Spot bitcoin ETFs took in $526.7 million on Monday, $23.2 million on Tuesday and $524.8 million on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) led the way, drawing $665.2 million on Monday, its largest single-day inflow since October 2025.The mood then reversed. Thursday brought $635.6 million in outflows, the largest daily withdrawal since June, followed by another $137.9 million on Friday. IBIT itself saw $254.1 million leave on Thursday and $110.3 million on Friday, though it still finished the week with net inflows of $565.7 million.The week did end a run of two straight weeks of outflows. Even so, US spot bitcoin ETFs remain about $313.5 million in net outflows for October so far.Why it mattersWhen investors buy shares in a spot bitcoin ETF, the fund buys bitcoin to back them. When they sell, the fund may sell bitcoin. That makes ETF flows a useful, if imperfect, gauge of demand through these products. They don’t show who is buying or why, and a strong day of inflows is not the same as a sustained trend.The price response is the other half of the story. Bitcoin fell about 3.45% over the two days of outflows, and it briefly dipped below $80,000 over the weekend before recovering toward $80,600. Early-week inflows didn’t lift price meaningfully, and the late-week selling pushed it lower.The level traders are watchingCoinbase Institutional has identified $80,000 to $82,000 as a key support zone. Its reasoning combines two reference points: an estimated average cost basis of $81,300 for ETF holders, and the 50-day moving average near $81,700.The cost basis matters because it marks roughly where the typical ETF investor breaks even. While price holds above it, holders are sitting on modest gains. A sustained move below could leave many underwater, and some may choose to sell rather than wait. Coinbase warns that a lasting break below the zone could expose bitcoin to further losses toward $73,000 to $75,000.A shift in who’s buyingThere is a wider change in the background. Coinbase Institutional notes that corporate treasury companies bought about $14.5 billion of bitcoin in the first half of 2026, while US spot ETFs recorded nearly $5 billion in net selling. Since August, that has flipped: ETFs have attracted about $6.4 billion, against $1.5 billion for corporate treasuries.That matters because the biggest corporate buyer, Strategy, has cut its weekly purchases to a few hundred coins in recent weeks. If ETFs are now the main source of steady demand, the swings in their flows carry more weight for price than they did earlier in the year.The macro backdropInterest rates add another layer of risk. US producer prices rose 1.3% month on month in September, the largest increase since March 2022, and markets have raised the odds of a Federal Reserve rate hike in December. Higher rates tend to tighten financial conditions and make yield-paying assets more attractive than non-yielding ones such as bitcoin. That relationship is not fixed, but it is a headwind worth watching.Ethereum went the other wayEther ETFs had a weaker week, with $220.7 million in net outflows. BlackRock’s iShares Ethereum Trust (ETHA) accounted for $233.2 million of withdrawals, losing money on four straight days before a small inflow across the group on Friday.What to watch nextThe first thing to watch is whether bitcoin holds the $80,000 to $82,000 zone. A close back above the ETF cost basis, alongside renewed inflows, would suggest last week’s selling was a pause rather than a turn. Continued outflows while price trades below $81,300 would point to ETF holders cutting losses, and would put the $73,000 to $75,000 area in view.The next week of Farside data will show which way it is breaking. Watch the flow trend and the price response together before treating any single day of inflows as a bullish signal. For traders, the practical point is that the ETF buyers’ cost basis has become a level with real behavioural weight: where many holders break even is often where their decisions change.--- This article was written by Eamonn Sheridan at investinglive.com.

Saylor skips his Sunday bitcoin chart as Strategy heads into earningsStrategy chairman Michael Saylor did not share his usual Sunday bitcoin chart this week. Bitcoin watchers read that as a sign that Strategy (MSTR), the largest corporate holder of bitcoin, may have paused its buying. Saylor was active on X on Sunday: he described bitcoin as “the moat” in a reply to Jack Dorsey. But the chart that usually comes before a purchase announcement did not appear. A missing chart is a signal, not a confirmation. The company’s Monday filing will settle the question, and its third-quarter results follow on Thursday. ---Earlier:Bitcoin buyers are fighting back, but sellers aren't finished. Here are the two prices swing traders should watch---What is the ‘orange dot chart’?For more than a year, Saylor has posted a snapshot of Strategy’s bitcoin tracker to X almost every Sunday. The chart plots the value of the company’s holdings over time, and each orange dot marks a purchase. The graphic has historically come before a Monday 8-K filing confirming that Strategy bought bitcoin the previous week. The caption changes each week, but the message is usually the same: more coins are coming. Over the past two weeks, Saylor captioned the chart with variations on finding room for more orange, and both posts were followed by purchase disclosures. The pattern is not a fixed rule. In July, after a large bitcoin sale, Saylor posted the tracker with an unusually vague caption saying the orange dots tell only part of the story, and the post a week earlier had come before the largest sale in company history. A missing chart suggests a pause, but it does not prove one. The buying has already slowedThe size of recent purchases is the bigger story. Strategy bought 267 BTC for about $22.1 million at an average of $82,900 per coin in the week to October 18. That followed a 250 BTC purchase for about $21.5 million the week before. Earlier in the year, single weekly purchases topped 20,000 BTC. The latest purchase was funded almost entirely by selling 140,872 MSTR shares through the company’s at-the-market program. Over the same week, the company spent far more on its own securities. It used $193.1 million to buy back 1.94 million shares of its STRC preferred stock, and the board raised its digital credit securities repurchase program from $2 billion to $3 billion. STRC is one of Strategy’s preferred shares, which pay holders a regular dividend. Buying them back below their $100 face value reduces the company’s future dividend costs. Michael Saylor 'Found More Room for Orange' as Strategy Adds 267 Bitcoin - Strategy (NASDAQ:MSTR) - BenzingaStrategy has also sold bitcoin this year. It reported selling 32 BTC in early June, its first disclosed sale since a 2022 tax-loss transaction. It then sold 3,588 BTC for about $216 million to fund preferred stock distributions and top up its US dollar reserve. A further 1,638 BTC was sold between July 27 and August 2 at an average of $63,957, with the proceeds split between preferred dividends and STRC buybacks. Even so, Strategy’s holdings stand at 848,517 BTC, bought for about $64 billion at an average of $75,446 per coin, more than 4% of bitcoin’s total supply. What could change the readA pause would not be new. In September, Saylor’s chart returned after a two-week buying break, and purchases resumed. The company also has the money to buy. As of October 4, its USD Reserve stood at $4.88 billion, with $833.4 million in USD Cash. A larger purchase disclosed on Monday would undercut the slowdown story. Another quiet week on bitcoin, alongside continued buybacks, would reinforce it. bitcoinWhat to watch nextThe first test is Monday’s 8-K filing, which will show whether Strategy bought, sold or held bitcoin last week, and how much it spent on buybacks.Next come third-quarter results. Strategy reports after the US close on Thursday, October 29, and will host a live webinar at 5:00 p.m. Eastern Time. The headline profit should hold few surprises, since the fair value of the company’s bitcoin was already above its cost basis as of September 30. Management’s comments on funding, dividends and the balance between buybacks and bitcoin purchases are likely to matter more. For bitcoin traders, the practical point is that Strategy has been a steady buyer through much of this cycle. If its weekly purchases stay small, the market loses a reliable source of demand. Watch the size of the purchases, not just whether there are any. This article was written by Eamonn Sheridan at investinglive.com.

Bitcoin tradeCompass update: Bearish scenario activated, first profit target reachedBitcoin has moved below our $79,870 bearish threshold, with the latest supplied price near $79,438. The bullish threshold at $80,860 was briefly crossed but never sustainably confirmed.The bearish scenario is now active, and TP1 at $79,630 has already been reached.Here's what that means for traders following the tradeCompass plan:Initial stop: The opposite bullish threshold at $80,860 served as the default stop reference for this short setup, subject to the trader's chosen execution and risk plan.After TP1: A trader who entered near $79,870 and took an initial partial profit, for example 25% of the position, should now have moved the protective stop on the remaining 75% to the actual entry price, approximately $79,870.Three remaining bearish targets: TP2 at $79,310, TP3 at $77,560 and TP4 at $73,680. These are potential objectives, not promises that Bitcoin will reach any or all of them.What if Bitcoin reverses?If Bitcoin rises and the remaining stop executes at the entry price, the trader retains the profit already taken at TP1, while the remaining position closes approximately at breakeven. Trading fees, spread or slippage can still affect the final result.Under the tradeCompass discipline, that completes the bearish trade. No second short should be initiated using this same published map.However, the bullish opportunity remains available if Bitcoin subsequently breaks above $80,860 and demonstrates sustained strength.The lesson is simple: Take some profit, protect the remainder and let the market decide whether the larger move develops.Educational only. Trade at your own risk.---------- Previously published ------------Bitcoin is approaching an important decision point for swing traders. Sellers have demonstrated their strength, but buyers are showing signs of defending the $80,000 area. The latest investingLive tradeCompass maps two conditional scenarios: bullish above $80,860 and bearish below $79,870.The challenge is distinguishing a temporary rebound from a more durable recovery, or a brief dip from another significant breakdown.Bitcoin tradeCompass: The bullish and bearish levelsThe tradeCompass identifies two directional thresholds. Traders can use them to prepare for either outcome rather than commit to a prediction.Bullish Bitcoin above $80,860A sustained move above $80,860 would strengthen the case that Bitcoin's recent stabilization is developing into a more meaningful recovery.The potential bullish profit targets are:The first target at $81,770 represents the initial opportunity to secure a partial profit. The higher targets provide objectives if buying momentum develops into a more substantial swing.Importantly, the bullish threshold has already been tested. On October 25, Binance BTC/USDC traded as high as approximately $80,942 before retreating below $80,860. A subsequent market snapshot around 20:04 UTC showed Bitcoin near $80,453.That brief crossing is not sufficient by itself to establish a confirmed breakout or an executed trade. Traders considering the bullish scenario should reassess whether price can regain and hold above the threshold.Bearish Bitcoin below $79,870A sustained breakdown below $79,870 would suggest that the latest attempts to establish support have failed, potentially putting sellers back in control.The bearish profit targets are:The first two targets are relatively close to the bearish threshold. The third and fourth require more meaningful downside continuation.A breakdown would become more convincing if Bitcoin struggled to recover above the breached level after initially falling through it.Between $79,870 and $80,860, the tradeCompass remains neutral. This is a decision zone, not a requirement to trade. Neither a failed bullish attempt nor a minor decline inside the zone automatically activates the bearish scenario.Bitcoin sellers have the bigger trend, but buyers are challenging themThe recent price action presents an interesting conflict between different trading timeframes.On October 22, Bitcoin experienced renewed selling pressure that undermined an earlier recovery attempt. The accompanying CME Bitcoin futures analysis showed elevated trading participation and a close near the lower end of the session's range.That matters because sellers were not merely pushing prices temporarily lower. They demonstrated an ability to sustain downward pressure during an important session.However, the subsequent price action offers a reason not to become overly committed to the bearish outlook.On October 24, Bitcoin briefly traded down toward $79,133 on Binance BTC/USDC before recovering. That rejection was accompanied by unusually high trading activity in the relevant hourly observation.Additional shorter-term observations on October 25 showed repeated unsuccessful attempts to sustain lower prices and improving intraday lows around the $80,000 to $80,440 region.These developments suggest that buyers are becoming more willing to defend the lower trading area.There is an important distinction, however, between buyers defending support and buyers establishing a new bullish trend.The daily structure still showed bearish characteristics in the October 25 analysis. The shorter-term recovery signals had not overturned that broader weakness.For Bitcoin swing traders, this distinction matters. A convincing move above $80,860 could create an attractive tactical bullish opportunity without necessarily confirming that the broader correction has ended.Likewise, another successful defense around $80,000 does not guarantee that support will hold on the next test.The first profit target matters for more than taking profitsOne of the most useful principles of the investingLive tradeCompass is that trade management deserves as much attention as the initial direction.For either scenario, traders following the suggested plan can consider two actions after reaching TP1:Take a partial profit on the position.Move the protective stop on the remaining position to the actual entry price.For a bullish trade, that consideration arises at $81,770. For a bearish trade, it arises at $79,630.The purpose is to reduce the remaining exposure while allowing part of the position to participate if a larger move develops.Moving a stop to entry does not guarantee a completely risk-free outcome. Trading costs, spread, slippage and execution conditions can still produce losses.Traders should also establish an appropriate initial protective stop before entering a position. The tradeCompass's opposite activation threshold is not automatically the appropriate stop, and position size should reflect the risk of the actual setup.Why swing traders should avoid repeatedly chasing the same signalThe tradeCompass has another principle intended to discourage overtrading.Each published tradeCompass allows a maximum of one completed bullish trade and one completed bearish trade under its suggested discipline.If a trader enters a long position and that trade eventually concludes, the bullish opportunity from this particular publication is considered used, regardless of whether the trade made money, lost money or reached only its first profit target.The same rule applies independently to the bearish scenario.An unfilled order does not count as a completed opportunity, and an open position with a remaining runner is still part of the original trade.The opposite direction can remain available if its conditions subsequently develop, but reversing after a losing trade should not be automatic.This approach encourages selectivity rather than repeatedly entering whenever Bitcoin fluctuates around a familiar price.What could make Bitcoin's next swing more convincing?The bullish and bearish scenarios have different confirmation requirements, but they share an important principle: crossing a level is not the same as sustaining a move beyond it.For bulls, the next improvement would be a renewed move above $80,860 that can hold. Depending on the trader's existing strategy, confirmation might involve a candle closing above the threshold, a successful retest or another independently validated entry signal.For bears, renewed acceptance below $79,870 would indicate that the recovery attempts around $80,000 are failing.The extended targets in both directions should be understood as potential objectives rather than forecasts of imminent moves.For now, the central Bitcoin question is whether buyers can turn their recent defensive activity into sustained upside progress.Above $80,860, the bullish tradeCompass becomes relevant. Below $79,870, the bearish opportunity becomes relevant. Between those levels, patience may be the more useful position.For a fuller explanation of how these conditional scenarios work, read the investingLive guide to using tradeCompass.The Fed may leave interest rates unchanged this week. So why could Bitcoin still move?Bitcoin traders have another important event to watch this week: the US Federal Reserve's interest rate decision on Wednesday, October 28.The Federal Reserve, often called the Fed, influences how expensive it is to borrow money. Higher interest rates can make safer investments, such as government bonds, more attractive compared with riskier assets like Bitcoin and other cryptocurrencies.But markets often react more to what the Fed says about future interest rates than to the actual decision.What does the market expect?According to an October 20 Reuters survey cited in the analysis, 94 out of 100 economists expect the Fed to leave rates unchanged at 3.75% to 4.00% this Wednesday.The supplied survey also reports that all 100 economists anticipate another rate increase in December.That means leaving rates unchanged in October would not be particularly surprising. What could move Bitcoin is whether the Fed sounds more or less concerned about inflation and the need for further rate increases.Three possible scenarios for Bitcoin and cryptoScenario 1: Expected outcome - The Fed holds rates and remains cautiousThe Fed leaves interest rates unchanged and signals that another increase in December is still likely.Because markets already expect this, the decision might not provide Bitcoin with a strong reason to rise or fall.Possible crypto reaction: Bitcoin remains choppy and directionless, with buyers and sellers continuing to compete around $80,000. Altcoins may also struggle to establish a convincing recovery.For our tradeCompass, Bitcoin remaining between $79,870 and $80,860 would favor patience rather than forcing a directional trade.Scenario 2: Bullish surprise - The Fed signals fewer rate increasesThe Fed leaves rates unchanged but unexpectedly suggests that inflation is becoming less concerning, making another rate increase in December less certain.This would be meaningful because investors expecting higher interest rates might suddenly reconsider their outlook.Possible crypto reaction: Bitcoin rallies as investors become more willing to take risks. Ethereum and other cryptocurrencies could also benefit, particularly if the US dollar and bond yields decline.For our tradeCompass, a sustained break above $80,860 would bring the bullish targets into focus, starting at $81,770, followed by $85,200.Scenario 3: Bearish surprise - The Fed raises rates or warns of more hikesThe Fed unexpectedly increases interest rates immediately, or leaves them unchanged but suggests that inflation is serious enough to require several additional increases.This would be a more aggressive message than markets currently expect.Possible crypto reaction: Bitcoin and other cryptocurrencies could sell off sharply as investors reduce exposure to riskier assets. A stronger US dollar and rising bond yields could add pressure.For our tradeCompass, a sustained move below $79,870 would activate the bearish scenario, with initial targets at $79,630 and $79,310. If selling continues, the lower targets become relevant.What should Bitcoin traders watch?The Fed decision is scheduled for 2:00 p.m. New York time on Wednesday, followed by the press conference at 2:30 p.m.Traders can also watch the US dollar and Treasury yields for clues about how financial markets interpret the announcement.And there is another potential catalyst on Thursday, October 29, when important US inflation (PCE) and economic growth (GDP) figures are scheduled for release.The important lesson: Markets respond to surprises, not simply whether news sounds good or bad. Even a decision to do nothing can move Bitcoin if the Fed's message changes what investors expect next.That is another reason to use the tradeCompass as a conditional trading map, rather than trying to predict the Fed's decision or Bitcoin's immediate reaction.Educational only. Trade at your own risk. Cryptocurrency markets can be highly volatile, and losses may exceed expectations when trading with leverage. This article was written by Itai Levitan at investinglive.com.

Zcash sold off sharply yesterday alongside many other cryptocurrencies as growth concerns led to widespread risk aversion. The selling started late on Wednesday and then accelerated after The New York Times reported that the US and Israeli militaries had prepared detailed plans for potential strikes against Iran following the US midterm elections. The report also indicated that US was reinforcing its military presence in the region, with additional forces expected to be fully deployed by early November.The risk of another direct confrontation between the US and Iran, combined with growing concerns about economic growth and the Federal Reserve forced to keep a hawkish stance due to inflationary pressures, weighed heavily on the crypto market.  Today's US Flash PMIs will likely be another major catalyst. Soft readings could intensify growth concerns and trigger another selloff in Zcash, while better-than-expected data could ease growth fears in the near-term and lead to a relief rally. However, this will likely be just a temporary recovery as the data would not change the bearish backdrop. ZCASH TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Zcashtrimmed most of the weekly gains yesterday amid the widespread risk aversion. If we get another pullback into the 1,031 support, we can expect the buyers to step in, with a defined risk below the level, to position for a rally into the 2,000 level. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the 800.00 level next.ZCASH TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see the price broke above the downward trendline and eventually rallied all the way up to the key 1,350 level before pulling back. If we get a recovery into the 1,350 level, we can expect the sellers to step in there, with a defined risk above the level, to position for a drop into the 1,031 support. The buyers, on the other hand will want to see the price breaking higher to increase the bullish bets into the 2,000 level next, with the 1,692 high as the first target.ZCASH TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see the price broke below the upward trendline that was defining the bullish momentum. The sellers piled in on the break to target a drop into the 1,031 level but the price started to consolidate near the trendline. If we get a break of the recent low around the 1,185 level, we can expect the sellers to increase the bearish bets into new lows. The buyers, on the other hand, will need the price to rise back above the trendline to start positioning for a recovery into the 1,350 resistance next. The red lines define the average daily range for today.UPCOMING CATALYSTSTodaywe conclude the week with the US Flash PMIs.  This article was written by Giuseppe Dellamotta at investinglive.com.

Bitcoin erased all the weekly gains in the past couple of days as widespread risk aversion weighed on the crypto market. The risk-off flows started late Wednesday following reports that the US military was reducing its troop presence at bases in the Middle East, while the State Department ordered staff cuts at diplomatic posts amid rising security risks and the possibility of renewed military action against Iran.The selling pressure then intensified after The New York Times reported that the US and Israeli militaries had developed detailed plans for potential strikes on Iran following the US midterm elections. The report also said that the US was building up its military presence which is expected to be fully deployed by early November.The prospects of another direct conflict between the US and Iran amid increasing growth concerns and a hawkish Fed are all strong bearish drivers for the crypto market.The focus today will be on the US Flash PMIs as it could be another major catalyst given the growth concerns.  Weaker-than-expected data could intensify growth fears, weigh further on risk sentiment and trigger another selloff in Bitcoin. Strong data, on the other hand, could alleviate fears in the near-term and lead to a relief rally, although it wouldn’t change the bigger picture. BITCOIN TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Bitcoin pulled back to the key 80,000 support. The buyers will likely continue to step in around the support, with a defined risk below it, to keep targeting a rally into the 98,000 level. The sellers, on the other hand, will want to see the price breaking lower to pile in for a drop into the 75,000 level next.BITCOIN TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see the price probed above the 84,000 resistance before erasing all the gains. If the price gets there again, we can expect the sellers to step in around the resistance, with a defined risk above it, to keep targeting a break below the support. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the 87,400 level next.BITCOIN TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, there’s not much we can add here as the buyers will have a better risk to reward setup around the support, while the sellers will need a break to open the door for new lows. The red lines define the average daily range for today.UPCOMING CATALYSTSToday we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.

HSBC has started rolling out RedCoin, its Hong Kong dollar-backed stablecoin, to more than 3.3 million users of its PayMe payments app, according to the South China Morning Post. The phased launch began on Friday, 23 October, starting with transfers between users and payments to merchants. Three weeks ago, investingLive flagged that RedCoin had a name but no launch date. That question now has an answer. Two others do not: which blockchain RedCoin runs on, and whether it can ever leave HSBC’s own apps.What happenedAccording to the SCMP, PayMe users can activate a RedCoin wallet with no minimum balance and no extra account-opening steps. Once they update the app, they can select the wallet and send money instantly, through an interface similar to the existing PayMe experience. Full availability is expected before the weekend.Lawrence Li, head of PayMe, told the paper the first phase is about keeping the service stable, avoiding extra hassle for customers and earning their trust. That is a deliberately cautious start for a bank-issued token.The SCMP also reported that HSBC plans to add RedCoin to its Hong Kong mobile banking app by year-end. That would allow instant subscriptions to tokenised money market funds from HK$100, with tokenised gold and third-party funds to follow.HSBC is one of only two firms licensed to issue stablecoins in Hong Kong. The Hong Kong Monetary Authority granted the first issuer licences on 10 April to HSBC and to Anchorpoint Financial, a joint venture of Standard Chartered Hong Kong, HKT and Animoca Brands. Anchorpoint began a phased rollout of its own HKDAP stablecoin in August.Why this stablecoin is differentA stablecoin is a digital token designed to hold a steady value, usually backed one-for-one by a traditional currency and reserve assets. HSBC says RedCoin will be redeemable one-for-one for Hong Kong dollars and backed by segregated assets.The best-known stablecoins, such as USDT and USDC, are issued by crypto companies and move freely between wallets and exchanges. RedCoin is issued by a licensed bank and, for now, can only be used inside HSBC’s own apps.That difference matters. If RedCoin stays inside PayMe and the HSBC app, users may notice little change from today’s PayMe balances: the difference is mostly in the plumbing underneath. If it later becomes transferable to outside wallets, it would be much closer to a crypto-style stablecoin, with a major bank standing behind it.What we flagged in September, and where it standsLaunch date: answered. RedCoin is live in phases from 23 October.Blockchain: still not disclosed in reporting so far.External wallets: still not addressed.Scale: the 3.3 million figure, which we earlier traced to an unnamed outlet, is now reported by the SCMP as PayMe’s user base. That is the number of people who can use RedCoin, not the number who will.Why it matters, and what it doesn’t changeThe launch is an early test of whether regulated, bank-issued stablecoins can win everyday use, and of Hong Kong’s push to become a regulated hub for digital assets. The planned link to tokenised funds from HK$100 is the more significant step for investors. It would give ordinary retail customers a route into tokenised assets, which is where stablecoins connect to the wider tokenisation trend.It does not directly affect Bitcoin or Ether, and RedCoin is not a token traders can buy on an exchange. As we noted in September, the HKMA has warned about fraudulent tokens. Anything trading under the RedCoin or HSBC name on a crypto exchange is not the bank’s product.What could change the interpretationThe story strengthens if HSBC discloses the blockchain, opens RedCoin to outside wallets, reports solid activation numbers or delivers the tokenised fund link on schedule. It weakens if uptake is slow, the first phase runs into technical problems, or RedCoin remains a closed system that adds little to what PayMe already does.What to watch nextActivation figures. How many of the 3.3 million eligible users actually switch on a RedCoin wallet.Blockchain and wallet access. These are the two disclosures that decide what kind of stablecoin RedCoin really is.The year-end app integration. Watch whether tokenised money market funds from HK$100 arrive on time.HKDAP comparison. Anchorpoint’s rollout is the only like-for-like benchmark in Hong Kong.The practical takeaway: RedCoin is now real, but for the moment it is a payments upgrade inside HSBC’s apps rather than a new crypto asset. The disclosures still to come will show whether it becomes more than that. This article was written by Eamonn Sheridan at investinglive.com.

When you send Bitcoin, Ether or SOL, the transaction shows up almost immediately. That doesn’t mean it is permanent. Every blockchain has a point after which a transaction can no longer be reversed, called finality, and the time it takes to get there ranges from under a second to around an hour depending on the network. Solana’s Alpenglow upgrade this week cut its finality time from about 12.8 seconds to a target of roughly 150 milliseconds, which makes this a good moment to explain what finality is and why traders should care.What finality meansA blockchain is a shared record kept by thousands of computers that must agree on which transactions happened and in what order. Agreement takes time. Until enough of the network has signed off, there is a small chance a transaction could be dropped or replaced if part of the network had a different view of events.Finality is the point where that chance is gone, or so small it can be ignored. Before it, a transaction is pending, however confident the screen looks. After it, the transaction is settled.Bitcoin: finality by accumulationBitcoin never declares a transaction final. Instead, each new block added on top makes it harder to reverse, because rewriting history would mean redoing all the computing work in those later blocks. New blocks arrive about every 10 minutes on average.This is called probabilistic finality. The longer you wait, the safer the transaction becomes. A common convention is to wait for six confirmations, roughly an hour, before treating a large payment as settled, though many exchanges credit deposits after fewer. The trade-off is clear: Bitcoin is slow to settle, but reversing a transaction buried under several blocks would require enormous computing power.Ethereum: finality by checkpointSince its move to proof-of-stake, Ethereum has had a definite finality point. Validators, who lock up ETH to take part, vote on checkpoints. Once two-thirds of staked ETH has backed a checkpoint in two consecutive rounds, everything before it is finalized. Reversing a finalized block would mean a large share of validators losing their staked ETH.In practice that takes about 15 minutes, according to ethereum.org. In a pleasing coincidence, the theoretical minimum is 12.8 minutes, the same figure as Solana’s old finality time, just in minutes rather than seconds. Faster finality is on Ethereum’s research roadmap, but there is no confirmed date.Solana: finality in a fraction of a secondSolana also uses staked validators, but it is designed for speed. Under its previous system, TowerBFT, transactions were quickly marked “confirmed”, but full finality took about 12.8 seconds. Alpenglow, live on mainnet since 21 October, merges those stages into one and targets finality of about 150 milliseconds. Early dashboard readings have been somewhat above that target, so the real-world figure is worth watching as the network beds in. Why traders should careFinality affects how quickly you can use your money. Exchanges usually wait for a transaction to settle before crediting a deposit, so slower finality means a longer wait before funds can be traded. For anyone moving coins between exchanges to take advantage of a price difference, that delay is a real cost, because the opportunity can disappear while the transfer settles.It also matters for payments and decentralised finance. A merchant or lending app that acts on a transaction before it is final takes on a small risk that it gets reversed. Faster finality shrinks that window.Speed is not the same as qualityIt is tempting to read finality times as a league table, with Solana top and Bitcoin bottom. That misses the trade-offs. Bitcoin’s slower process is part of what makes its history so hard to rewrite. Ethereum’s longer window comes with a very large, widely distributed validator set. Solana’s speed relies on high-performance validators, and the network has a history of outages, so its new system still has to prove itself under real conditions over time.The right question is not which network is fastest, but whether its settlement speed and security suit what you are doing. An hour is fine for moving savings into cold storage. It is not fine for a shop counter.What to watch nextExchange deposit times for SOL. If major exchanges cut their waiting periods, Alpenglow’s speed is reaching users.Solana’s live finality. Watch whether it settles near the 150 millisecond target under heavy load.Ethereum’s roadmap. Any firm timeline for faster finality would narrow the gap with faster networks.Your own exchange’s policy. Check how many confirmations it needs for each coin before you move funds in a hurry.The practical takeaway: a transaction on screen is not the same as a settled one. Knowing how long finality takes on each network tells you how long your money is really in transit. This article was written by Eamonn Sheridan at investinglive.com.

Solana switched on its Alpenglow upgrade on Wednesday, 21 October, replacing the consensus system the network has run since its 2020 launch. The headline change is speed. Transactions now reach finality, the point where they can no longer be reversed, in a fraction of a second instead of roughly 12.8 seconds. That is a real improvement for exchanges, payment apps and traders using the network. Whether it creates more demand for SOL itself is a separate question, and the early price action suggests the market sees it that way.What happenedAnza, the firm behind Agave, Solana’s main validator software, scheduled the switch for about 14:50 UTC. The feature activated at the start of epoch 1064. The old system, TowerBFT, kept running for another 5,000 slots, roughly 18 minutes, before handing over to Alpenglow at slot 459,653,000. The network did not restart. Anza described it as swapping consensus engines on a live network.Validators approved the upgrade in September 2025, with about 98% voting in favour. Alpenglow went live on Solana’s testnet on 24 September this year and on devnet a day later. Before the mainnet date was set, Anza ran a bug bounty of more than 25,000 SOL, drew on work from 115 security researchers, and simulated the network across 1,500 nodes. An earlier September target came and went, with developers saying publicly they would not rush it.Why finality mattersA blockchain confirms transactions in stages. On Solana, users could already see a transaction as “confirmed” quickly. Full finality, the guarantee it cannot be rolled back, took about 12.8 seconds. Many exchanges wait for finality before crediting deposits, and businesses accepting payments care about the same point.Alpenglow targets finality of about 150 milliseconds, and it merges “confirmed” and “finalized” into one state. It gets there partly by moving validator votes off the chain. Votes are now sent as signed messages and combined into a single certificate, which frees up block space. Anza says the design stays safe with up to 20% of stake acting maliciously plus another 20% offline. A reading trap: transaction counts will dropValidator votes used to be recorded as on-chain transactions, and they made up about 63% of all transactions on the network. They no longer appear in blocks. Any dashboard that counted them will show a sharp fall in transactions per second. That is a change in accounting, not a collapse in usage. Readers comparing Solana activity before and after 21 October should keep this in mind.Faster settlement is not the same as demand for SOLThe upgrade makes Solana more useful. It does not, on its own, mean more SOL will be bought or held. Demand for the token depends on network activity, fees, staking and the wider crypto market. A faster network can support all of those over time, but that link has to show up in the data.The short-term price action makes the point. According to market reports, SOL gained in the 24 hours before activation, then gave back the move as Bitcoin weakened and risk appetite faded. A well-telegraphed upgrade is often priced in before it arrives, and in the short run, broader market direction tends to outweigh network news.What could change the interpretationThe bullish case strengthens if exchanges shorten their SOL deposit times and payment firms build on the faster settlement. That would be evidence that the upgrade is turning into real usage. The case weakens if the network suffers instability in the weeks after the switch, given Solana’s history of outages. Client concentration is another risk to track. Alpenglow currently runs on Anza’s Agave client, and a compatible version of Jump Crypto’s Firedancer client has not been announced.What to watch nextExchange deposit policies. The clearest sign the upgrade matters to users is exchanges crediting SOL deposits faster.Live finality versus the target. Watch whether finality settles near 150 milliseconds under real load, not just at quiet times.Network stability. The first few weeks under a new consensus system are the main test.Client diversity. Any news on a Firedancer build that supports Alpenglow would reduce reliance on a single client.Agave 4.5. The next upgrade, targeted for December, would let a single transaction reference more accounts, which the Solana Foundation says could enable more efficient swap routes. This article was written by Eamonn Sheridan at investinglive.com.

The swings in bitcoin continue. The price is currently down nearly $3,000, trading near $81,000 after reaching a low of $80,836. Today’s high reached $84,294, below yesterday’s high at $84,774.Both highs stalled ahead of the next key upside swing level at $85,578. Buyers had their shot to extend the recovery, but they could not reach that hurdle. Today, sellers have taken back control.Bitcoin follows the risk-off flowsThe move lower has been helped by risk-off sentiment across the equity markets:Nasdaq Composite: Down 2.56%.Nasdaq 100: Down 2.82%.Bitcoin is following the equity market’s lead—at least today. When investors are reducing risk, bitcoin can get caught in the same selling flow. That is what the price action is showing in this session.The lower swing area is back in playTechnically, today’s decline has taken the price into a lower swing area between $80,100 and $81,183. That area has helped define the bottom of bitcoin’s consolidation range since September 18. Monday’s low at $80,595 also stalled within that zone.That gives traders a clear area to watch. Buyers need to defend support and push the price back above $81,183 to begin easing the immediate downside pressure. Holding support would give them a foothold, but they would still need to build on it.For sellers, the next step is a sustained break below the lower boundary. Call $80,000 the line in the sand. Get below and stay below, and the door opens for more downside momentum.What comes next on a break?Below the consolidation range, the 38.2% retracement of the move higher from the July low comes in at $76,052. That becomes the next major technical target if sellers can establish control below $80,000.The distinction is important: testing support is one thing. Breaking below it and staying below it is another. Sellers need that next shove to turn another swing within the range into a break out of the range.In the video above, I take a look at bitcoin’s latest swings, the support being tested, and what buyers and sellers need to do next. This article was written by Greg Michalowski at investinglive.com.

Solana came under renewed pressure as escalating Middle East tensions weighed on risk sentiment, with reports of US military preparations for potential strikes on Iran adding to concerns about another direct confrontation. The combination of rising oil prices, growing economic concerns and a hawkish Federal Reserve creates a very challenging backdrop for the crypto market. If the conflict escalates further, SOL could remain vulnerable to a broader risk-off move.Solana has also completed the Alpenglow upgrade which went live on mainnet on October 21, replacing TowerBFT and targeting transaction finality of around 150 milliseconds, down from approximately 12.8 seconds.Looking ahead, tomorrow's US Flash PMIs could trigger further volatility given the lingering growth concerns. Weaker than expected data could intensify growth fears, weigh further on risk sentiment and trigger another selloff in SOL. Stronger data, on the other hand, might ease the concerns and lead to a short-term relief rally, although it wouldn’t change the bigger picture as it would just reinforce the need for further Fed tightening, thus limiting the recovery. SOLANA TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Solanais back under pressure as renewed Middle East tensions weighed on risk sentiment. We have a key support zone around the 97.00 level. If the price gets there, we can expect the buyers to step in, with a defined risk below the support, to position for a rally into the 148.00 level. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the major upward trendline next.  SOLANA TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have a minor support zone around the 103.50 level. We can expect the dip-buyers to step in here, with a defined risk below the support, to keep targeting the resistance zone around the 113.00 level. The sellers, on the other hand, will want to see the price breaking lower to extend the drop into the 97.00 support. SOLANA TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we have a minor downward trendline defining the current bearish momentum. The sellers will likely continue to lean on the trendline, with a defined risk above it, to keep pushing into the 97.00 support. The buyers, on the other hand, will look for a break higher to pile in for a rally into the 113.00 level next. The red lines define the average daily range for today.UPCOMING CATALYSTSToday we get the latest US Jobless Claims figures, while tomorrow we conclude the week with the US Flash PMIs.  This article was written by Giuseppe Dellamotta at investinglive.com.

Ethereum came under renewed pressure as escalating Middle East tensions weighed on risk sentiment. The weakness began late yesterday following reports that the US military was reducing its troop presence at bases across the region, while the State Department ordered staffing cuts at diplomatic posts amid rising security risks and the possibility of renewed military action against Iran.The selling pressure intensified after The New York Times reported that the US and Israeli militaries had developed detailed plans for potential strikes on Iran following the US midterm elections. The report also said that the US was building up its military presence, with three aircraft carriers, thousands of Marines, fighter jets and special operations units expected to be fully deployed by early November.The prospects of another direct conflict amid increasing growth concerns and a hawkish Fed are all strong bearish drivers for the crypto market. Tomorrow’s US Flash PMIs could be another major catalyst given lingering growth concerns.Weaker-than-expected data could intensify growth fears, weigh further on risk sentiment and trigger a selloff in Ethereum. Strong data, on the other hand, could alleviate fears of an economic slowdown and lead to a short-term relief rally, but it wouldn’t change the bigger picture as it would just reinforce the need for rate hikes.  ETHEREUM TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Ethereumis pulling back a bit after the escalation in the Middle East tensions. If we get a pullback into the major trendline and the 2,360 support, we can expect the buyers to step in, with a defined risk below the trendline, to position for a rally into the 3,400 level. The sellers, on the other hand, will want to see the price breaking below the trendline to open the door for new lows and target the 1,900 level next.ETHEREUM TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see the price is breaking below the minor upward trendline that was defining the recent bullish momentum. We can expect the sellers to pile in on the break, with a defined risk above the trendline, to extend the pullback into the major trendline. The buyers, on the other hand, will be better off waiting for the price to fall into the major trendline to have a better risk to reward setup. ETHEREUM TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, there’s not much we can add here, although we have a minor downward trendline that could act as resistance in case we get a slight pullback. The sellers will likely continue to lean on the trendline, with a defined risk above it, to keep pushing into new lows. Some aggressive buyers, on the other hand, might wait for a break higher to start positioning for a rally into the 2,577 level next. The red lines define the average daily range for today.UPCOMING CATALYSTSToday we get the latest US Jobless Claims figures, while tomorrow we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.