decrypt

One detail first: this announcement comes from Decrypt itself, about its own product. Read it as a launch notice, not independent news.

Decrypt says it is launching The Information Exchange on Solana, with Decrypt as the media destination, Myriad as the infrastructure and a token called MYR tying it together.

Another consumer app picking Solana is a small plus for the network. But one media token does not change $SOL demand in a way you can see on a chart, and the market agrees.

SOL is at 119.97, up 1.46% in 24 hours. $BTC is up 1.41% over the same period. That is the market moving SOL, not this headline. Volume is 0.96 times its 7-day average, so nothing unusual is happening. Hourly RSI is 52.8, neutral.

On the week SOL is up 4.7%, trading inside a range from 112.52 to 124.95, about 4.0% under the top.

My view: neutral on SOL, no trade from this news.
A break above 124.95 with volume clearly above average would be the first real signal of new demand.
A drop under 112.52 would break the week's range to the downside.

What I will watch is simple: whether this product brings real users on-chain in the coming weeks. Adoption shows up in activity long before it shows up in price.

#Solana #Decrypt

$BTC at 83,210: breakout or drop?

$BTC trades at US$83,210 after Decrypt reported that the U.S. government moved $103 M worth of seized Bitcoin and BNB, without explaining why.

That same day, $UNI fell 9.5% and $DOGE fell 6.7%, both on modest volumes.

My take: the government move could signal a future sale or simply secure custody; for now, there is no confirmation that these assets will be liquidated.

Technically, the RSI is at 31.9, and the EMA20 (84,806) is below the EMA50 (84,865), confirming the bearish trend on the 4-hour chart. The next support is at 82,563; a break below it would open the way to 80,000. On the other hand, key resistance is at 85,092; a close above it would invalidate the bearish scenario and open the way to a target of 86,973.

Will it break 85,092 or retest 82,563? 🟢/🔴

#BTC #Decrypt

This is not financial advice. Do your own research before investing.

Crypto fund outflows add selling pressure
Today's market coverage reports continued Bitcoin and Ethereum ETF outflows in October. This is adding to the cautious outlook, although price direction can change quickly.
#Decrypt

Solana reaches a 7-month peak, forecasts a "spectacular breakout" by the end of the year

The price of Solana ($SOL ) has just reached its highest level in the past 7 months, trading at nearly 225 USD, up 25% in the last 30 days. Matt Hougan, Chief Investment Officer of Bitwise, noted that SOL has all the necessary conditions for a “spectacular breakout” by the end of the year, similar to what Bitcoin and Ethereum have experienced.

Factors driving the increase

According to Hougan, the strong growth of #solana is driven by two main factors: capital inflows from exchange-traded products (ETP) and companies hoarding tokens in their treasury. Many listed companies have accumulated hundreds of millions of dollars in SOL. Recently, Forward Industries even announced plans to raise 1.65 billion USD to build a Solana treasury, a move that could have a significant impact on SOL's price due to its relatively small market capitalization.

Outlook from ETF

The SEC's decision to approve spot funds #ETF is also approaching, with applications from Bitwise, Canary Funds, and 21Shares. Although approval is not guaranteed, many experts believe that Solana ETF funds are highly likely to be approved by 2025. Analysts predict that the combination of institutional capital inflow and the approval of ETF funds will create an ideal environment for Solana to continue strong growth and potentially set a new high by the end of this year. #Decrypt