The market is still cold. Today, BTC fell directly below 26,000 and approached 25,000. The approval of the first ETF in Europe two days ago did not stimulate the market. This wave of spikes also broke through the pressure level that many people said. It feels that the bear market will continue for a long time. I wonder if this wave of spikes is a good opportunity to increase positions.

Evergrande filed for bankruptcy, and the negative impact has just begun. Musk sold 373 million dollars of Bitcoin, and SpaceX has cleared its position. The two pieces of news stunned the market and directly hit the support level near 25,200, with strong buying. Next, 25,200 will become an important support level.


In addition, OP is very strong. As long as there is a decline, gradually build positions and wait for the Cancun upgrade in the fourth quarter.


The contract is also very rare. 170,000 people were liquidated, with a total amount of 1 billion US dollars. In this market, you must set a stop loss and take out insurance.

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4 altcoins set to rise: VET, HBAR and GRT, KAVA

KNOW、HBAR

Bluntz also mentioned VeChain (VET) and Hedera (HBAR) on his watchlist as altcoins that could see big gains if Bitcoin rebounds. The analyst said: “Some altcoins that I thought were dead are starting to look good. VeChain seems very close to a breakout, and Hedera’s strong breakout looks very promising.”

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GRT

As of this writing, VeChain’s native asset VET is trading at $0.0172, and Hedera’s native asset HBAR is trading at $0.0619. In addition, the analyst gave a positive review to blockchain indexing protocol The Graph (GRT), saying that “GRT is on the verge of a strong breakout.”

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KAVA

KAVA, the token that powers the decentralized lending Kava protocol, rose about 3% on Thursday to trade near $0.75, having found decent support at its June low of $0.73.

The cryptocurrency is currently trading near the bottom of its 2023 range, which means now could be a good time to buy on the dip.

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