WEBVTT
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A warm welcome to all the DJs, the farmers, and the hodlers and the day traders out there.
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You're now listening to the weekly crypto forecast by CoinMarketCap.
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I'm your new host for today.
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I'm Shane, the PR from the marketing team at CMC.
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And I'll be straight with you.
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This is my very first time hosting this show.
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So if you are a regular here, you know the drill better than I do.
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So bear with me and honestly tell you how I'm doing in that chat, and I'd rather uh hear it from you.
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And the good news is I've got the best possible person next to me, with me, uh with us, as always, is Alice, CMC's research lead.
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So Alice, thank you for not making me do this alone.
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How's this going?
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Hi, Shane.
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Great to have you on board.
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Very happy to uh, I guess for the audience to have a bit of a change as well.
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I'm doing great.
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I'm doing very well.
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I went to uh Singapore last week for Token 2049.
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Uh back in Dubai now, uh, and the market seems to be uh having a lot of actions as well.
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So overall, I'm doing well.
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How are you?
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I'm pretty cool.
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It seems like you've got a lot to say.
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So uh here's how I'm going to approach today.
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Uh, since I'm the new person in the room, which means when Alice says something that if I don't know about it, I'm going to stop her and ask.
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Because if I'm not following it, chances are some of you and either.
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So think of me as your person in here, and I'll ask the questions you would ask.
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So let me do a quick bit of housekeeping.
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And while I do this, shout out where you are listening from as well.
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Um, you can catch us live every Monday on the CMC app.
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Just turn on your notifications on.
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And if you miss it, every episode is on the CMC Live Hub and on Spotify and the Apple podcast as well.
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So, really, you've got no excuse.
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Um, one more thing, and this one matters.
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Nothing we say on this show is financial advice.
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Always do your own research before you ape into anything, and the views you hear today are ours and ours alone.
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They don't necessarily represent the views of CoinMarketCap.
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Right, Alice, let's kick it off.
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Um, how bullish are you feeling heading into this week?
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Uh yeah, let's start with some numbers first.
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So I hope you guys can see my screen because I'm multitasking at the moment and you can see me doing this live in action.
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Okay, so as we speak, the total market cap for crypto has dipped a little bit right now at 2.79 trillion USD.
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24-hour trade volume is relatively active actually at 75 billion USD, up 87% for the past 24 hours.
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BTC dominance, as you can see here, 59.4%.
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Ether has come up a little bit at 11%.
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And why that's the reason?
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Because altcoin season is coming back.
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I know it probably doesn't feel like so for some of you guys because BTC dropping around 84k and now actually deep to 82.
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We will talk about that a bit later, don't worry.
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But let's look at some headline numbers, right?
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Cryptofair and grid index, we are dead centered in the neutral uh zone.
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A month ago, we were in greed.
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So if you guys take a look at it for the past 30 days, the market has jumped around quite a bit.
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Right now, it's giving me a 55 in the neutral zone uh with BTC priced at around 82k.
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I think the market has seen a bit of uh actions for the past 48 hours, especially now coming back to the liquidations.
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I want to show you guys the uh the liquidation that we had.
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Let me bring up where is my liquidation?
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But yeah, I will show you guys for the past 24 hours, especially when BTC has been chopping up and down a little bit.
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We actually have liquidation mostly uh around the short positions getting liquidated.
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Um so that is currently, I think the directors market is trading, trending that way.
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But for the altcoin season index, we are actually 61 uh at the moment.
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Uh it refreshes every five minutes.
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So for altcoin season, we haven't seen this high level for a while now because for the past 30 days, we've been chopping up and down.
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Right now, 62, 63 is around the highest with weakness for the past month.
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So, what is driving it and what are some of the key um, I guess, performers for the past 90 days?
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Pump.5 is leading the pack with 26 uh X, sorry, 2.6x for the past 90 days, followed by a few other, you know, uh scattered around all the different DeFi sector.
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We have infrastructure, we have AI, we have uh privacy tokens um coming back to DeFi, but actually we didn't see meme coin taking taking that role.
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So for the altcoin performance for the past 90 days, it's still very much DeFi infrastructure and privacy, as we are saying.
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So, yes, that is roughly around the market, but let's look at some of the K levels.
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Bitcoin, as we speak, is at 82,568.
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It is down about 3.5% for the past seven days.
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What is driving it?
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Number one is ETF outflows.
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We had about 1.3 uh billion in total ETF spot outflows, and Bitcoin backed in about 600 or so million outflows.
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So ETF outflow is one of the drivers, and directives position is another.
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There's a big TA section coming out later as well.
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Ether got hit hard, 2.5k around at the moment, down 6.5% for the past seven days.
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Across the board, you can see BMB is also down about 5%.
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XRP got hit around 8.4%.
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It has a bit of its unique reason for the for the patch that they released.
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But then we'll discuss that in the news section as well.
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So it's down about 8%.
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Right now, it's still above 100 and 108.
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Uh, across the board, as you guys can see, it's an ocean of red, but on average, we are having a bit of uh around 5.8% pullback for the top 30 tokens in the market at the moment.
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But that means we also have the gainers.
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Let's look at some of the things that are pumping for the past seven days and what are the reasons.
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So, for on my screen, you can say StarkNet is leading the pack.
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Uh, it is it is uh up about let me tell you up about 75% for the past seven days.
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What is driving it is it's having a major unlock this week.
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On the 15th of October, it will unlock 127 million tokens.
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That's about quite a meaningful circulating supply of that unlock.
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So, as as uh this as a driving factor, Starknet is having quite a bit of uh action at the moment.
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And then leading by Celestia, Celestia is impacted by its the V3 architecture released on Drive, which is a large on-chain options venue, and they are now using Celestia as the backbone.
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And Layer Zero is also giving us quite a good uplift around 19% for the past seven days.
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They're gonna have 23 million tokens getting unlocked on the 20th of October, and also people are bullish on it because of the continued positive sentiment around the Atlas fee buyback mechanism.
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And last but not least, I want to point out near protocol.
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Of course, we have BINSH and the MIME coin pumping as well.
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I don't know how much of this is related to CZ posting it six packs, but meme coin is getting a bit of uh pump.
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But NIR is something I want to discuss with you guys.
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NIR is up 11% on the week, and for the past 24 hours, you guys can see it's uh having quite a bit of momentum as well.
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So, what is happening?
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Because apart from you can use agentic charts to analyze on the TA side as well, but let's look at some of the core things that are analyzed by CMC AI because NIR is waiting on its governance change, it's now going to uh cap its maximum annual issuance to 1.6%.
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It was 2.5% before, but they are now downgrading it to 1.6.
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It's great because that means limited supplies, and that has been one of the main driving factors for it.
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But it's not just that, because if you check on why it's near price up today, apart from the fundamental reasons we discussed, it's also a surge on the futures, open interest, open interest and short liquidation forced squeeze to have that big of a push on the momentum of NIR's price.
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Right now, NIR is at 5.56, but can it continue the bullishness of it?
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A few things to watch out for, right?
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Number one, check out the directors market, check out the liquidation, because majority of the bullish governance token issuance uh you know cap limit has been priced in already.
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So now it's very much a director's driven market.
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So things like this you can use CMC AI to check.
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And that has been a lot for me to talk about uh for the market's overview.
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Back to you, Shani.
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So it's been a market that's moving a lot, but not really going anywhere, which makes me want to know is what's actually driving it.
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So, Alice, can you take us into the news?
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Uh yeah, sure.
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A lot happened in the market.
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Gosh, we have a lot of topics.
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Uh, let's talk about ledger first.
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For the people tuning in, let me check how many audiences we have right now.
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Uh yeah, we have quite a bit uh on with us at the moment.
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Let's talk about ledger.
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Later on, I'm gonna pivot into Token 2049 because I want to give you guys a bit of update there as well.
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And then we will probably cover some quick regulations from China side and let's look at what strategy is doing, what ETF is doing.
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I saw a few comments of you guys asking what would be the price of BTC and where do we go from here.
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Hold on, we're gonna go to that part.
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So that is covered in today's news as well.
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All right, so Shane, if you're ready, let's get started with Ledger because what a mess, what a mess in the market for Ledger.
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Uh, because Ledger confirmed a hardware implant in reseller devices, and that has caused users to lose 86 million USD.
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It's not directly related to it.
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Um, it's it's actually the middleman.
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But Shane, I want to ask you imagine, right?
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Buying a hardware wallet to keep your crypto safe, and the device itself turns out to be the theft.
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Oh my god.
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Oh, that's like very hard to imagine.
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Yeah, exactly.
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So let's break it down uh in terms of what happened.
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So, what happened right now is that devices sold through a third-party reseller, um, it's named uh cryptobillies, were tempered with.
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So that means you know, every confirmed uh theft traces back to that channel.
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The reported loss over 90 million dollars across 300 plus wallets.
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Ledger says its own system uh and direct sell channels weren't affected.
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It's the middleman crypto bills as they have stopped selling the hardware wallets.
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But the community isn't convinced it's just one reseller.
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Uh no, you're right, because the analyst Dark Force flagged 20 plus potentially risky resellers, including some Lazat, you know, the North uh Korea related.
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Yeah, so that's unconfirmed.
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But if you bought from one of them in the last six months, consider moving your phones.
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And this one, you didn't just a software bug.
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Yeah, correct.
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Because this attack is a physical thing, right?
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So researchers found uh authorized hardware implanted inside the devices, and the new newer versions may be hidden behind the screen as well.
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So that's kind of the crazy thing, I guess.
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One user opened up a laser stacks, the flagship, and found an extra board, a cellular module, and what looks like an antenna.
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I guess so.
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So the device could send data out on its own with no Wi-Fi needed.
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And that is how the hack was happened this time.
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The official theory is that it grabs your state face, right?
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While you write it down.
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Um Slowness founder called the attackers top-tier hardware hackers as well.
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And how how has the industry responded?
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Right, because it's quite a mess, isn't it?
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Because Ledger's advice here is that if your device came from an affected channel and you haven't set it up, don't initialize it.
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Right?
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So just don't use it.
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If you have, then you can move your funds to a new device from an official channel and generate a fresh seed freeze there as well.
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So resellers now have to source only through the authorized channels and return units can't be resold as well.
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So I guess in this case, it's it's really just you you can't trust anyone in the middle.
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And the best channel is probably to buy directly from ledger.
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But even that is really scary because people thought Cold Wallet is the go-to place.
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Yeah, right.
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Um the second piece argues AI makes all of this worse.
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Yeah, exactly.
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So I guess because now custody in the AI era is a bit different because AI makes uh fishing sites, fake support agents, and personalized scams that are far more convincing than before now.
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So I would say even on EVM chains, right?
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That's a two of three safe uh when it comes to fixed starts with uh multi-sig and with one key on a phone, one on a laptop, and one backs up offline.
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So there's no single point of failure in that case.
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But AI is also useful outside those uh the devices as well, because if you have it design your custody plan and then have it play the theft to find your weakest link, it can help work that way as well.
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So when it comes to the AI era and the safety of it, we've seen this year.
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Um it's it's there's so many hacks in this space.
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So I think it's really gotta be very careful now, even with Cold Wallet, having things like this.
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Yeah, attackers have already operated, so your setup should operate as well.
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Indeed, indeed.
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I think that's the lessons we've learned from the ledger story here.
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Okay.
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Um, completely different direction.
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Listeners might find out like Alice, you were not here with us last week as you were at Token 24-9 in Singapore.
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So, can you tell us something about what they have like what people actually care about there?
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Uh yeah, sure.
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So for now we move on to part two because I want to give us uh a bit of update on what I saw at Token.
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Token was crazy.
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Why?
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Because back then, if you guys remember, every crypto conference, it is crypto people asking Wall Street for approval.
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But this year I felt different because I there were so many Wall Street institutions' names there.
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Goldman Sachs was there, Morgan Stanley was there, uh Nasdaq was there, BlackRock was there, and a lot of their people like in charge of the division were speaking at the conference as well.
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So now this year, it really feels like Wall Street wanted crypto distribution.
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What were they talking about?
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The number one topic was tokenization, tokenization of treasuries, of IPOs, uh, of stocks, all put them on crypto rail.
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So that's interesting because now finally the pitch has flipped.
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Nasdaq CEO probably produced some of the most concrete plans because he it uh Adana, that's the that's the CEO for Nasdaq, mentioned that tens of billions of collateral that is currently stuck between institutions can actually be benefited from tokenized being tokenized.
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Because if you guys think when it comes to tokenization of all the financial instruments, the main target people are not retail investors like us, bigger institutions.
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Because if institutions can tok can have some of their trading instruments put on crypto route, that means they can free up some of the capital they can do with you know yield strategies, they can they can just uh do with better settlement, and that would bring a lot more efficiency back to the market.
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So this is not really a crypto argument, it's more of you know financial instructor argument.
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So that's definitely the number one talked about thing at token 2049.
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How are we gonna bring the existing stocks on-chain starting from 23-hour trading, starting by Nasdaq, because there's already a CC framework in place in December this year?
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And they're gonna gradually switch on to 24-7 when the risk framework is up.
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It's also about pre-IPOs because how are we gonna tokenize equities of companies directly and we launch them as tokens for global market access as opposed to IPO at one capital market?
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For example, right now you're gonna choose if you want to go IPO on Nasdaq or if you want to go IPO on Linux Stock Exchange or at Hong Kong Stock Exchange, et cetera.
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But now, with a lot of the AI companies having such insane market cap estimations, it's going to be very difficult for a single market to accompany that much liquidity.
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So it makes sense, you know, in nowadays, like nowadays, AI products go global, their users are global, so their access to capital should be global as well.
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But also this morning I was reading out of token 2049, Goldman actually improved valuations for crypto and upgrading uh equity to overweight in the next few months and bomb to overweight for the next 12 months as well.
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So it seems Goldman Sachs is bullish on tokenized stocks and also um they have quite a good outlook uh later on towards AI-related equities as well.
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So that's quite interesting to see.
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That's a lot.
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Thanks, Alice, for sharing your experience from uh Singapore.
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Um, so let's go from Singapore to Beijing, China, because that one got a lot of attention over this weekend.
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Yeah, I don't know if you saw it on your news feed or not.
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This seems to be so popular, like that was the biggest movement, yeah, in the Chinese community.
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We saw it, but we didn't know um why it didn't get catched on in the English-speaking community as well.
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So, why is this so important?
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Why are Chinese KOLs uh and uh I guess Chinese blockchain people are so excited about this?
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Everyone was reading this as if, you know, is China gonna unbank crypto?
00:19:23.680 --> 00:19:28.480
It's such a monumental movement, and I think even Binance tweeted about this as well.
00:19:28.640 --> 00:19:44.160
But let's look at the details and what actually is happening here because the headline is Beijing orders a national blockchain network, and other Asia regulators are keeping uh open doors as well.
00:19:44.319 --> 00:19:49.039
Um, it seems towards regulations are towards a more open direction.
00:19:49.200 --> 00:19:58.880
On the 9th of October, the Communist Party Central Committee and the State Council published a 19-measured economic policy document.
00:19:59.039 --> 00:20:04.079
Um, so this is according to Chinese official media wang.
00:20:04.240 --> 00:20:11.279
They call for building a national blockchain network alongside an integrated national computing power network.
00:20:11.599 --> 00:20:20.559
So the aim for that is for it to sit in the section of linking the real economy to the digital economy.
00:20:20.799 --> 00:20:26.319
And that also means the manufacturing upgrades and national data infrastructure gets a lift as well.
00:20:26.559 --> 00:20:32.319
So it's very rare for blockchain as a keyword to appear in mainstream Chinese media.
00:20:32.559 --> 00:20:34.720
People were really celebrating this.
00:20:34.799 --> 00:20:35.759
But let's look at it.
00:20:35.920 --> 00:20:37.680
Does this mean this is crypto?
00:20:37.839 --> 00:20:44.400
Not really, because this is there's no mention of Bitcoin or there's no mention of you know stable coins, etc.
00:20:44.960 --> 00:20:56.400
But it seems to be again echoing Token 2049 key theme that big institutions are now moving on chain, and China is looking at that direction as well.
00:20:56.559 --> 00:21:10.079
So building a national blockchain network to integrate its uh the national computing power network um to link the real economy with the digital economy seems to be the direction for China.
00:21:10.319 --> 00:21:14.160
So that seems to be the government side that talks about blockchain.
00:21:14.319 --> 00:21:17.359
Um, how about let's talk about who's actually buying?
00:21:17.519 --> 00:21:20.319
Because Saylor was back at this week, right?
00:21:20.559 --> 00:21:28.240
Uh yeah, people didn't expect uh Saylor to publish things because today is a holiday for the US market.
00:21:28.400 --> 00:21:30.880
The bond market is not trading today.
00:21:31.039 --> 00:21:35.440
Um, so it's quite, I guess it's quite rare for us to see the announcement.
00:21:35.759 --> 00:21:40.880
Strategy disclosed that they bought another 250 Bitcoin last week.
00:21:40.960 --> 00:21:51.039
Uh its total holdings is now 848,250 BTC on their book.
00:21:51.200 --> 00:21:57.039
So yeah, it's a great movement from Michael, Michael Saylor, and strategy keep on buying the market as well.
00:21:57.680 --> 00:21:57.920
Right.
00:21:58.079 --> 00:21:59.759
Now, now give me the bad news because.
00:22:00.160 --> 00:22:05.440
Because I look at the ETF flows this morning and it looks uh it was wasn't so pretty.
00:22:05.759 --> 00:22:09.759
Yeah, so the ETF side is having quite a bit of a shock.
00:22:10.000 --> 00:22:20.240
The DAT is buying, sailor is buying 250 BTC, but the larger, the Lion's shot share, the uh ETF side seems to be selling it.
00:22:20.400 --> 00:22:22.720
Because let's look at what has what happened.
00:22:22.960 --> 00:22:26.880
We had such a great past few weeks, guys.
00:22:27.119 --> 00:22:34.960
3.5 billion dollars of inflows into ETFs for the past few weeks, right?
00:22:35.440 --> 00:22:42.559
And last week it ended it all because crypto ETFs lost 1.3 billion USD last week.
00:22:42.799 --> 00:22:46.240
Does that mean Wall Street is now changing its mind on Bitcoin?
00:22:46.400 --> 00:22:55.440
Let's look at it because ETF has gone from being the catalyst to now actually being a thermal stats for the market.
00:22:56.240 --> 00:23:02.160
What I mean by that is uh Bitcoin last week lost about 617 million USD.
00:23:02.400 --> 00:23:07.519
Ether lost about 500 million USD in the ETF outflows, right?
00:23:07.839 --> 00:23:16.240
Uh it's it's it's making us thinking, you know, when we have major ETF outflows like that, we see the market price reacting to it.
00:23:16.400 --> 00:23:25.119
Maybe that's the reason why we're seeing BTC dropping down from 85K, 84K to now 82K.
00:23:25.359 --> 00:23:32.160
And even the good news coming out from China over the weekend didn't give the market that much of an uplift.
00:23:32.319 --> 00:23:33.440
So what is happening?
00:23:33.599 --> 00:23:37.039
It doesn't seem to be institutions are leaving crypto.
00:23:37.200 --> 00:23:44.400
It's rather they are shifting attention to the bond market because US 10-year bond is at 5.2% yield.
00:23:44.480 --> 00:23:48.079
We haven't seen that for since 2002.
00:23:48.319 --> 00:23:50.079
Okay, 2002.
00:23:50.400 --> 00:24:05.039
So that's why some of the institutions are looking to reallocate their capital, maybe pulling it out from things like Bitcoin that doesn't give a yield to chase a yield of 5.2% on the US Treasury.
00:24:05.279 --> 00:24:10.799
But what's really interesting is which funds actually had the had the outflow?
00:24:11.039 --> 00:24:14.960
Because the one coming from BTC is not from the BlackRock fund.
00:24:15.200 --> 00:24:18.079
It's actually from Fidelity and ARC.
00:24:18.319 --> 00:24:19.920
So Kathy Woods ARC.
00:24:20.240 --> 00:24:22.319
These two are the major outflows.
00:24:22.480 --> 00:24:29.599
It seems to be, you know, IBIT, the BlackRock, iShare's uh Bitcoin Trust, seems flat.
00:24:29.759 --> 00:24:33.680
It didn't have the outflow that uh we were describing.
00:24:33.839 --> 00:24:40.480
So it seems the believers keep on believing maybe some institutions are shifting away because of the yield hike.
00:24:40.880 --> 00:24:41.920
So that's the reason.
00:24:42.000 --> 00:24:59.279
But if you look at Ethereum, Ethereum seems to be a bit more bearish in terms of ETF outflows because it's been nine days, continuous days of outflows, and ether did and the outflows were left from the largest uh ETHA, the IShare fund as well.
00:24:59.440 --> 00:25:10.720
So to me, that seems institutions are shifting away from Ethereum and maybe potentially to something else, either a safer asset or maybe rotating into our coins.
00:25:10.960 --> 00:25:11.440
We don't know.
00:25:11.759 --> 00:25:12.079
Okay.
00:25:12.480 --> 00:25:16.799
Um, so that's the case from the fundamental side.
00:25:16.960 --> 00:25:19.200
Um let me take the other half of that.
00:25:19.359 --> 00:25:22.319
Let me show you what the chart actually says.
00:25:22.480 --> 00:25:29.039
Um, I'm new here and I'm not going to stand up on my first show and pretend that I'm a chart analysis.
00:25:30.319 --> 00:25:35.359
So I did what I'd actually do, which is use our CMC own tool.
00:25:35.599 --> 00:25:39.519
So we have been building something called a genetic charts.
00:25:39.680 --> 00:25:46.640
Uh, the short version, you pull out a chart, you ask it a question in plain English, and it reads the chart back to you.
00:25:46.960 --> 00:25:51.599
Structure, support, resistance, momentum, volume.
00:25:51.759 --> 00:25:56.720
And the bit I actually like is that it tells you what would prove it wrong.
00:25:56.960 --> 00:26:02.160
Most chart analysis you read online tells you where it thinks price is going.
00:26:02.400 --> 00:26:08.400
This thing tells you the exact level where it owns its own read stops working.
00:26:08.559 --> 00:26:11.039
Um, that's a much more useful thing to know.
00:26:11.279 --> 00:26:17.839
So I ran Bitcoin through it this morning, and I'm just going to walk you through what it said.
00:26:18.160 --> 00:26:20.640
And I will say a usual disclaimer.
00:26:20.799 --> 00:26:29.599
So this is analysis, not advice, and I'm reading you a tool's output, not a recommendation uh from me or from CMC.
00:26:30.240 --> 00:26:32.240
And here's what it found.
00:26:32.480 --> 00:26:36.960
Bitcoin bought in at the start of July around 58,000.
00:26:37.359 --> 00:26:39.680
It's at 83.2 now.
00:26:40.000 --> 00:26:49.039
So it's up something like 40% in three months, and it's been making higher highs and higher lows in the whole way.
00:26:49.519 --> 00:26:54.880
On the daily chart, um, that is a healthy uptrend and it is still intact.
00:26:55.200 --> 00:26:59.759
But zoom out one more level to the weekly and it's a range.
00:26:59.920 --> 00:27:09.119
And the highs in the range have been getting lower, and zooming to the four hour end is going sideways, confirming nothing.
00:27:09.440 --> 00:27:18.960
So, same chart, three time frames, three different answers, weekly says range, daily says uptrend, four hours says wait.
00:27:19.200 --> 00:27:26.079
Um, and I think which one you listen to depends entirely on whether you're trading this week or holding for the year.
00:27:26.240 --> 00:27:31.440
Now, here's the part where they all agree, and this is the one thing I'd write down.
00:27:31.599 --> 00:27:39.759
Um there's a level at roughly 82 and a half thousand that four completely different methods all point at.
00:27:40.000 --> 00:27:54.079
The 30-day average is there, the 38% retracement is there, the support that shows up on both the daily and the weekly is there, and the structural level that holds this whole uptrend together is there.
00:27:54.319 --> 00:27:59.039
Four unrelated methods landing inside a$200 band.
00:27:59.759 --> 00:28:01.039
So that's the line.
00:28:01.279 --> 00:28:05.839
We are at 83.2, so it's about 1% below us.
00:28:06.240 --> 00:28:10.319
While daily closes stay above it, this is a pullback.
00:28:10.559 --> 00:28:16.160
A daily close below it doesn't make it a bear market, but it does end the constructive read.
00:28:16.319 --> 00:28:20.720
Below that, the real support zone is 81 to 82.
00:28:20.960 --> 00:28:23.039
That's being tested repeatedly.
00:28:23.359 --> 00:28:34.640
And if that went, the next meaningful area is 76 to 77 and a half, which would be a much bigger retracement and a different conversation entirely.
00:28:34.880 --> 00:28:48.000
Going the other way, um the nearest ceiling is about 83.8, which is basically right on top of us, and then generally nothing until um 87 to 87.4.
00:28:48.799 --> 00:28:51.920
And that's a big one because it contains a recent hike.
00:28:52.559 --> 00:28:54.559
And here's the detail I like.
00:28:54.720 --> 00:29:00.480
For a break above there to mean anything, it wants the daily close around 8084.
00:29:00.799 --> 00:29:04.400
That's the top of the zone, plus half a day's average range.
00:29:04.640 --> 00:29:06.880
Anything less and it's just a week.
00:29:07.200 --> 00:29:10.079
Two honest caveats before I came back.
00:29:10.319 --> 00:29:13.599
So one momentum um has normalized.
00:29:13.839 --> 00:29:17.519
RSI is about 54, which is dead neutral.
00:29:17.680 --> 00:29:20.559
Uh that's not a warning, but it's not fuel either.
00:29:20.720 --> 00:29:23.680
It says consolidation, not acceleration.
00:29:24.000 --> 00:29:26.799
Second, uh, this is the one that matters.
00:29:27.039 --> 00:29:31.359
The volume isn't there, the heaviest participation was during the move up.
00:29:31.599 --> 00:29:33.359
Recent volume is mixed.
00:29:33.680 --> 00:29:42.640
So if Bitcoin does clear that resistance, which whether volume comes with it, a breakout and thin volume is how you get trapped.
00:29:42.960 --> 00:29:51.759
So three numbers, 82.5 is a line, 81 to 82 is a floor under it, 87 is a ceiling.
00:29:52.000 --> 00:29:55.039
Everything in between, I could I can call it a noise.
00:29:55.200 --> 00:29:57.680
And again, not advice, go pull up this.
00:29:57.759 --> 00:30:00.640
You can go pull up this on CMC yourself.
00:30:00.880 --> 00:30:08.880
Okay, I think uh that's a perfect handover because I've just given you levels, Alice, and Alice is about to tell you about supply.
00:30:09.119 --> 00:30:30.559
Uh yeah, let's look at it because in terms of uh the debate in the market for whether this is going to be the, you know, if if the deep for BTC is over behind us, because people are looking at 84K as a very K level to watch out.
00:30:30.720 --> 00:30:34.640
I think Shane, you mentioned in your TA as well, right?
00:30:34.880 --> 00:31:02.720
Because quite a few things uh people are looking at whether uh the deep is done, because that's one of the most debated topics on QuanMarketCap community today, is the deep behind us, because people were feeling you know, a rejection at 87k and a flash drop below 84k seems to be a fake out, or maybe is this a start of a deeper lag.
00:31:02.880 --> 00:31:05.519
I think the TA there just now is very, very useful.
00:31:05.599 --> 00:31:10.799
And the gentic chart is something you guys definitely should use, or should um should try.
00:31:10.880 --> 00:31:15.759
Because let me share, let me see if I can share my my agentic chart with you guys.
00:31:16.000 --> 00:31:22.880
So this you if you go on to Quan Market Cap, you can have all the different um like you can see the pop-up there.
00:31:22.960 --> 00:31:25.039
So you you can get on there and you can ask questions.
00:31:25.200 --> 00:31:32.000
For example, uh, give me the TA for Bitcoin based on daily chart, like Shanya was doing.
00:31:32.160 --> 00:31:40.000
And then CMC agentic charts can help you plot out the K-levels, analyze the market, and it's plugged into CMC AI as well.
00:31:40.079 --> 00:31:45.839
So we'll have quite a good all-around analysis for it for you guys.
00:31:46.000 --> 00:31:52.000
So it's not just, you know, uh it's not just the Bitcoin that you can do, can do with some other tokens as well.
00:31:52.160 --> 00:31:52.799
You can choose.
00:31:52.960 --> 00:31:54.880
I saw people are asking about XRP.
00:31:54.960 --> 00:31:58.079
Feel free to try it out on XRP by yourself.
00:31:58.160 --> 00:32:02.000
I'm just gonna let my agent run on the things here, right?
00:32:02.240 --> 00:32:05.119
So that is on Bitcoin.
00:32:05.200 --> 00:32:10.079
But I guess the argument, the debate here is is BTC gonna drop?
00:32:10.240 --> 00:32:12.960
Because now 82 seems a bit scary at the moment.
00:32:13.039 --> 00:32:15.839
I saw a few comments flying through.
00:32:16.079 --> 00:32:19.359
People were saying, oh, I anticipate 70k for BTC.
00:32:19.519 --> 00:32:25.920
Come on, guys, we find we finally moved away from the 770s, finally got into the 80s.
00:32:26.160 --> 00:32:30.400
I really sincerely hope we don't dig back into the 770k again.
00:32:30.559 --> 00:32:34.319
And this week, Wednesday, CPI print.
00:32:34.480 --> 00:32:40.640
That is going to be the last CPI print before the end of October FOMC meeting.
00:32:40.720 --> 00:32:46.400
On the 28th of October, we're gonna have one more fat interest rate decisions, right?
00:32:46.480 --> 00:32:54.559
If it um by the look of it, 14 out of 16 seems to be agreeing on increasing the rate again.
00:32:54.720 --> 00:33:00.720
So, what that will do, it's gonna basically run through the market again, like what they did in September.
00:33:00.880 --> 00:33:02.480
Gold is likely to suffer.
00:33:02.640 --> 00:33:12.079
Bitcoin, we will have to say by that point if we can actually get an uplift because we are more like NASDAQ, or are we gonna get a hate because we're more like gold?
00:33:12.240 --> 00:33:19.759
Um, so review what happened in September, and that's likely to play out again end of October because of Fed interest decisions.
00:33:19.920 --> 00:33:30.240
So, on the shorter term, then how do you trade before end of October, mostly on derivative positions, mostly on um, you know, the volume in the market.
00:33:30.319 --> 00:33:33.119
So track liquidity before you track the price.
00:33:33.279 --> 00:33:38.960
So that's why a lot of the CMC AI tools and the genetic charts can be of that use as well.
00:33:39.599 --> 00:33:47.440
But again, because we saw BDC back above 84K earlier this morning, it did come back down to 82K.
00:33:47.920 --> 00:34:00.400
But let's definitely watch out around the 14th to 16th of October, around the uh CPI print time to see if the market is going to price in an early interest rate hike or not.
00:34:00.559 --> 00:34:07.119
So, yeah, so that concludes on the uh TA and on the BTC price analysis side.
00:34:07.359 --> 00:34:13.360
One last thing I have for you guys before we wrap up today's podcast is on the token analogs.
00:34:14.320 --> 00:34:22.480
So I have quite a few names to share with you guys, and some of them are indeed causing the price movement of the token itself.
00:34:22.719 --> 00:34:26.559
So going through the list, number one, I have Aptos.
00:34:26.960 --> 00:34:30.719
It is going to let me bring up the token unlocks page for you guys later as well.
00:34:30.800 --> 00:34:35.280
So Aptos Ticker APT, it is getting unlocked on the 11th.
00:34:35.519 --> 00:34:44.239
Sorry, it was a it's going to get unlocked for about 0.6% of circulating supply valued around 9.5 million USD.
00:34:44.320 --> 00:34:49.280
So that is uh midnight um today, morning, depending on your time zones.
00:34:49.360 --> 00:35:02.079
And number two, I have Starknet Tigger STRK getting unlocked on the 15th of October for about 3.3% of circulating supply valued around 14 million USD.
00:35:02.239 --> 00:35:13.840
Number three, I have SI, Tiger SEI, getting unlocked on the 15th of October for about 0.8% of circulating supply, valued around 3.7 million USD.
00:35:14.000 --> 00:35:25.760
Number four, I have Arbitrum, Ticker ARB, getting unlocked on the 16th of October for about 1.5% of circulating supply valued around 18.4 million USD.
00:35:26.239 --> 00:35:39.440
Number five, I have Kurnos, Ticker CRO, uh getting unlocked on the 17th of October for about 2.33% of circulating supply valued around 70 million USD.
00:35:39.599 --> 00:35:43.280
Those are the major unlocks for this week.
00:35:43.599 --> 00:35:50.400
So yeah, if you get if you already hold those tokens, just pay attention to the volatility closer to time.
00:35:50.639 --> 00:35:51.199
Cool.
00:35:51.360 --> 00:35:55.119
Um that's a wrap on this week's weekly crypto forecast.
00:35:55.280 --> 00:35:58.800
Um, before we go, a quick heads up, and this one's important.
00:35:59.119 --> 00:36:02.480
Nothing we've shared on this show is financial advice again.
00:36:02.639 --> 00:36:11.039
The views and opinions you heard today are ours and ours alone, and they don't necessarily represent the views of CoinMarketCap.
00:36:11.360 --> 00:36:15.039
Always do your own research before you ape into any token.
00:36:15.360 --> 00:36:17.199
And we will be back at 3 p.m.
00:36:17.440 --> 00:36:18.719
UTC next Monday.
00:36:18.880 --> 00:36:19.519
See you.
00:00:03.759 --> 00:00:10.000
A warm welcome to all the DJs, the farmers, and the hodlers and the day traders out there.
00:00:10.480 --> 00:00:14.640
You're now listening to the weekly crypto forecast by CoinMarketCap.
00:00:14.960 --> 00:00:16.320
I'm your new host for today.
00:00:16.399 --> 00:00:20.160
I'm Shane, the PR from the marketing team at CMC.
00:00:20.239 --> 00:00:21.839
And I'll be straight with you.
00:00:22.079 --> 00:00:25.280
This is my very first time hosting this show.
00:00:25.440 --> 00:00:29.280
So if you are a regular here, you know the drill better than I do.
00:00:29.519 --> 00:00:36.399
So bear with me and honestly tell you how I'm doing in that chat, and I'd rather uh hear it from you.
00:00:36.560 --> 00:00:45.439
And the good news is I've got the best possible person next to me, with me, uh with us, as always, is Alice, CMC's research lead.
00:00:45.600 --> 00:00:48.560
So Alice, thank you for not making me do this alone.
00:00:48.640 --> 00:00:49.359
How's this going?
00:00:49.600 --> 00:00:50.240
Hi, Shane.
00:00:50.640 --> 00:00:52.159
Great to have you on board.
00:00:52.399 --> 00:00:56.399
Very happy to uh, I guess for the audience to have a bit of a change as well.
00:00:56.560 --> 00:00:57.359
I'm doing great.
00:00:57.439 --> 00:00:58.399
I'm doing very well.
00:00:58.560 --> 00:01:01.759
I went to uh Singapore last week for Token 2049.
00:01:01.920 --> 00:01:07.760
Uh back in Dubai now, uh, and the market seems to be uh having a lot of actions as well.
00:01:07.920 --> 00:01:09.359
So overall, I'm doing well.
00:01:09.439 --> 00:01:09.840
How are you?
00:01:10.079 --> 00:01:10.879
I'm pretty cool.
00:01:11.120 --> 00:01:13.200
It seems like you've got a lot to say.
00:01:13.439 --> 00:01:16.159
So uh here's how I'm going to approach today.
00:01:16.239 --> 00:01:24.640
Uh, since I'm the new person in the room, which means when Alice says something that if I don't know about it, I'm going to stop her and ask.
00:01:24.799 --> 00:01:29.120
Because if I'm not following it, chances are some of you and either.
00:01:29.359 --> 00:01:34.959
So think of me as your person in here, and I'll ask the questions you would ask.
00:01:35.280 --> 00:01:38.799
So let me do a quick bit of housekeeping.
00:01:38.959 --> 00:01:42.560
And while I do this, shout out where you are listening from as well.
00:01:42.719 --> 00:01:46.400
Um, you can catch us live every Monday on the CMC app.
00:01:46.560 --> 00:01:48.799
Just turn on your notifications on.
00:01:48.879 --> 00:01:56.319
And if you miss it, every episode is on the CMC Live Hub and on Spotify and the Apple podcast as well.
00:01:56.560 --> 00:01:58.560
So, really, you've got no excuse.
00:01:58.959 --> 00:02:01.680
Um, one more thing, and this one matters.
00:02:01.840 --> 00:02:05.920
Nothing we say on this show is financial advice.
00:02:06.159 --> 00:02:12.800
Always do your own research before you ape into anything, and the views you hear today are ours and ours alone.
00:02:12.960 --> 00:02:16.560
They don't necessarily represent the views of CoinMarketCap.
00:02:16.800 --> 00:02:18.879
Right, Alice, let's kick it off.
00:02:19.039 --> 00:02:22.960
Um, how bullish are you feeling heading into this week?
00:02:23.280 --> 00:02:26.400
Uh yeah, let's start with some numbers first.
00:02:26.560 --> 00:02:31.919
So I hope you guys can see my screen because I'm multitasking at the moment and you can see me doing this live in action.
00:02:32.000 --> 00:02:40.000
Okay, so as we speak, the total market cap for crypto has dipped a little bit right now at 2.79 trillion USD.
00:02:40.159 --> 00:02:48.240
24-hour trade volume is relatively active actually at 75 billion USD, up 87% for the past 24 hours.
00:02:48.479 --> 00:02:51.280
BTC dominance, as you can see here, 59.4%.
00:02:51.759 --> 00:02:54.479
Ether has come up a little bit at 11%.
00:02:54.879 --> 00:02:56.080
And why that's the reason?
00:02:56.240 --> 00:02:58.479
Because altcoin season is coming back.
00:02:58.960 --> 00:03:07.199
I know it probably doesn't feel like so for some of you guys because BTC dropping around 84k and now actually deep to 82.
00:03:07.520 --> 00:03:09.680
We will talk about that a bit later, don't worry.
00:03:09.759 --> 00:03:11.840
But let's look at some headline numbers, right?
00:03:12.000 --> 00:03:17.599
Cryptofair and grid index, we are dead centered in the neutral uh zone.
00:03:17.759 --> 00:03:19.520
A month ago, we were in greed.
00:03:19.599 --> 00:03:25.599
So if you guys take a look at it for the past 30 days, the market has jumped around quite a bit.
00:03:25.759 --> 00:03:32.240
Right now, it's giving me a 55 in the neutral zone uh with BTC priced at around 82k.
00:03:32.319 --> 00:03:41.840
I think the market has seen a bit of uh actions for the past 48 hours, especially now coming back to the liquidations.
00:03:41.919 --> 00:03:45.280
I want to show you guys the uh the liquidation that we had.
00:03:45.520 --> 00:03:47.840
Let me bring up where is my liquidation?
00:03:48.000 --> 00:03:55.039
But yeah, I will show you guys for the past 24 hours, especially when BTC has been chopping up and down a little bit.
00:03:55.360 --> 00:04:01.439
We actually have liquidation mostly uh around the short positions getting liquidated.
00:04:01.599 --> 00:04:06.560
Um so that is currently, I think the directors market is trading, trending that way.
00:04:06.719 --> 00:04:11.360
But for the altcoin season index, we are actually 61 uh at the moment.
00:04:11.439 --> 00:04:13.680
Uh it refreshes every five minutes.
00:04:13.919 --> 00:04:21.439
So for altcoin season, we haven't seen this high level for a while now because for the past 30 days, we've been chopping up and down.
00:04:21.600 --> 00:04:26.879
Right now, 62, 63 is around the highest with weakness for the past month.
00:04:27.040 --> 00:04:34.240
So, what is driving it and what are some of the key um, I guess, performers for the past 90 days?
00:04:34.480 --> 00:04:46.160
Pump.5 is leading the pack with 26 uh X, sorry, 2.6x for the past 90 days, followed by a few other, you know, uh scattered around all the different DeFi sector.
00:04:46.399 --> 00:04:56.879
We have infrastructure, we have AI, we have uh privacy tokens um coming back to DeFi, but actually we didn't see meme coin taking taking that role.
00:04:57.040 --> 00:05:04.879
So for the altcoin performance for the past 90 days, it's still very much DeFi infrastructure and privacy, as we are saying.
00:05:05.120 --> 00:05:11.199
So, yes, that is roughly around the market, but let's look at some of the K levels.
00:05:11.439 --> 00:05:15.519
Bitcoin, as we speak, is at 82,568.
00:05:15.680 --> 00:05:18.800
It is down about 3.5% for the past seven days.
00:05:18.959 --> 00:05:20.000
What is driving it?
00:05:20.160 --> 00:05:21.920
Number one is ETF outflows.
00:05:22.000 --> 00:05:29.920
We had about 1.3 uh billion in total ETF spot outflows, and Bitcoin backed in about 600 or so million outflows.
00:05:30.000 --> 00:05:33.759
So ETF outflow is one of the drivers, and directives position is another.
00:05:33.920 --> 00:05:36.879
There's a big TA section coming out later as well.
00:05:37.040 --> 00:05:44.000
Ether got hit hard, 2.5k around at the moment, down 6.5% for the past seven days.
00:05:44.240 --> 00:05:47.360
Across the board, you can see BMB is also down about 5%.
00:05:48.000 --> 00:05:50.800
XRP got hit around 8.4%.
00:05:51.199 --> 00:05:56.319
It has a bit of its unique reason for the for the patch that they released.
00:05:56.480 --> 00:05:58.720
But then we'll discuss that in the news section as well.
00:05:58.879 --> 00:06:00.079
So it's down about 8%.
00:06:00.399 --> 00:06:02.879
Right now, it's still above 100 and 108.
00:06:03.279 --> 00:06:16.480
Uh, across the board, as you guys can see, it's an ocean of red, but on average, we are having a bit of uh around 5.8% pullback for the top 30 tokens in the market at the moment.
00:06:16.720 --> 00:06:19.759
But that means we also have the gainers.
00:06:19.920 --> 00:06:25.439
Let's look at some of the things that are pumping for the past seven days and what are the reasons.
00:06:25.600 --> 00:06:30.000
So, for on my screen, you can say StarkNet is leading the pack.
00:06:30.079 --> 00:06:37.360
Uh, it is it is uh up about let me tell you up about 75% for the past seven days.
00:06:37.519 --> 00:06:42.079
What is driving it is it's having a major unlock this week.
00:06:42.240 --> 00:06:46.480
On the 15th of October, it will unlock 127 million tokens.
00:06:46.639 --> 00:06:52.399
That's about quite a meaningful circulating supply of that unlock.
00:06:52.560 --> 00:06:59.360
So, as as uh this as a driving factor, Starknet is having quite a bit of uh action at the moment.
00:06:59.519 --> 00:07:13.120
And then leading by Celestia, Celestia is impacted by its the V3 architecture released on Drive, which is a large on-chain options venue, and they are now using Celestia as the backbone.
00:07:13.199 --> 00:07:19.680
And Layer Zero is also giving us quite a good uplift around 19% for the past seven days.
00:07:22.879 --> 00:07:34.800
They're gonna have 23 million tokens getting unlocked on the 20th of October, and also people are bullish on it because of the continued positive sentiment around the Atlas fee buyback mechanism.
00:07:34.959 --> 00:07:37.600
And last but not least, I want to point out near protocol.
00:07:37.839 --> 00:07:40.480
Of course, we have BINSH and the MIME coin pumping as well.
00:07:40.639 --> 00:07:47.839
I don't know how much of this is related to CZ posting it six packs, but meme coin is getting a bit of uh pump.
00:07:47.920 --> 00:07:50.480
But NIR is something I want to discuss with you guys.
00:07:50.720 --> 00:07:58.800
NIR is up 11% on the week, and for the past 24 hours, you guys can see it's uh having quite a bit of momentum as well.
00:07:58.959 --> 00:08:00.079
So, what is happening?
00:08:00.240 --> 00:08:19.680
Because apart from you can use agentic charts to analyze on the TA side as well, but let's look at some of the core things that are analyzed by CMC AI because NIR is waiting on its governance change, it's now going to uh cap its maximum annual issuance to 1.6%.
00:08:20.079 --> 00:08:24.399
It was 2.5% before, but they are now downgrading it to 1.6.
00:08:24.560 --> 00:08:30.319
It's great because that means limited supplies, and that has been one of the main driving factors for it.
00:08:30.480 --> 00:08:49.039
But it's not just that, because if you check on why it's near price up today, apart from the fundamental reasons we discussed, it's also a surge on the futures, open interest, open interest and short liquidation forced squeeze to have that big of a push on the momentum of NIR's price.
00:08:49.200 --> 00:08:54.559
Right now, NIR is at 5.56, but can it continue the bullishness of it?
00:08:54.720 --> 00:08:56.399
A few things to watch out for, right?
00:08:56.480 --> 00:09:07.840
Number one, check out the directors market, check out the liquidation, because majority of the bullish governance token issuance uh you know cap limit has been priced in already.
00:09:07.919 --> 00:09:10.480
So now it's very much a director's driven market.
00:09:10.639 --> 00:09:13.759
So things like this you can use CMC AI to check.
00:09:13.919 --> 00:09:19.600
And that has been a lot for me to talk about uh for the market's overview.
00:09:19.679 --> 00:09:20.639
Back to you, Shani.
00:09:21.039 --> 00:09:28.240
So it's been a market that's moving a lot, but not really going anywhere, which makes me want to know is what's actually driving it.
00:09:28.399 --> 00:09:30.879
So, Alice, can you take us into the news?
00:09:31.279 --> 00:09:32.559
Uh yeah, sure.
00:09:32.720 --> 00:09:34.320
A lot happened in the market.
00:09:34.480 --> 00:09:36.639
Gosh, we have a lot of topics.
00:09:36.799 --> 00:09:39.279
Uh, let's talk about ledger first.
00:09:39.519 --> 00:09:43.919
For the people tuning in, let me check how many audiences we have right now.
00:09:44.159 --> 00:09:47.919
Uh yeah, we have quite a bit uh on with us at the moment.
00:09:48.159 --> 00:09:49.600
Let's talk about ledger.
00:09:49.759 --> 00:09:56.320
Later on, I'm gonna pivot into Token 2049 because I want to give you guys a bit of update there as well.
00:09:56.559 --> 00:10:05.919
And then we will probably cover some quick regulations from China side and let's look at what strategy is doing, what ETF is doing.
00:10:06.159 --> 00:10:12.639
I saw a few comments of you guys asking what would be the price of BTC and where do we go from here.
00:10:13.039 --> 00:10:15.120
Hold on, we're gonna go to that part.
00:10:15.200 --> 00:10:17.360
So that is covered in today's news as well.
00:10:17.600 --> 00:10:26.559
All right, so Shane, if you're ready, let's get started with Ledger because what a mess, what a mess in the market for Ledger.
00:10:26.639 --> 00:10:36.639
Uh, because Ledger confirmed a hardware implant in reseller devices, and that has caused users to lose 86 million USD.
00:10:36.799 --> 00:10:38.960
It's not directly related to it.
00:10:39.360 --> 00:10:41.759
Um, it's it's actually the middleman.
00:10:42.080 --> 00:10:45.039
But Shane, I want to ask you imagine, right?
00:10:45.200 --> 00:10:51.360
Buying a hardware wallet to keep your crypto safe, and the device itself turns out to be the theft.
00:10:52.000 --> 00:10:52.799
Oh my god.
00:10:53.039 --> 00:10:55.279
Oh, that's like very hard to imagine.
00:10:55.600 --> 00:10:56.559
Yeah, exactly.
00:10:56.720 --> 00:10:59.759
So let's break it down uh in terms of what happened.
00:11:00.000 --> 00:11:10.639
So, what happened right now is that devices sold through a third-party reseller, um, it's named uh cryptobillies, were tempered with.
00:11:10.799 --> 00:11:15.759
So that means you know, every confirmed uh theft traces back to that channel.
00:11:15.919 --> 00:11:20.799
The reported loss over 90 million dollars across 300 plus wallets.
00:11:20.960 --> 00:11:27.039
Ledger says its own system uh and direct sell channels weren't affected.
00:11:27.120 --> 00:11:32.080
It's the middleman crypto bills as they have stopped selling the hardware wallets.
00:11:32.639 --> 00:11:36.000
But the community isn't convinced it's just one reseller.
00:11:36.559 --> 00:11:50.399
Uh no, you're right, because the analyst Dark Force flagged 20 plus potentially risky resellers, including some Lazat, you know, the North uh Korea related.
00:11:50.559 --> 00:11:52.799
Yeah, so that's unconfirmed.
00:11:52.879 --> 00:11:57.919
But if you bought from one of them in the last six months, consider moving your phones.
00:11:58.399 --> 00:12:01.519
And this one, you didn't just a software bug.
00:12:01.759 --> 00:12:02.559
Yeah, correct.
00:12:02.879 --> 00:12:05.600
Because this attack is a physical thing, right?
00:12:05.679 --> 00:12:14.799
So researchers found uh authorized hardware implanted inside the devices, and the new newer versions may be hidden behind the screen as well.
00:12:14.879 --> 00:12:16.720
So that's kind of the crazy thing, I guess.
00:12:17.039 --> 00:12:25.679
One user opened up a laser stacks, the flagship, and found an extra board, a cellular module, and what looks like an antenna.
00:12:26.000 --> 00:12:26.639
I guess so.
00:12:26.879 --> 00:12:31.919
So the device could send data out on its own with no Wi-Fi needed.
00:12:32.000 --> 00:12:34.080
And that is how the hack was happened this time.
00:12:34.240 --> 00:12:39.360
The official theory is that it grabs your state face, right?
00:12:39.519 --> 00:12:40.720
While you write it down.
00:12:40.879 --> 00:12:45.600
Um Slowness founder called the attackers top-tier hardware hackers as well.
00:12:45.840 --> 00:12:48.240
And how how has the industry responded?
00:12:48.480 --> 00:12:50.639
Right, because it's quite a mess, isn't it?
00:12:50.720 --> 00:12:59.759
Because Ledger's advice here is that if your device came from an affected channel and you haven't set it up, don't initialize it.
00:12:59.919 --> 00:13:00.080
Right?
00:13:00.240 --> 00:13:01.679
So just don't use it.
00:13:01.840 --> 00:13:09.279
If you have, then you can move your funds to a new device from an official channel and generate a fresh seed freeze there as well.
00:13:09.440 --> 00:13:16.559
So resellers now have to source only through the authorized channels and return units can't be resold as well.
00:13:16.720 --> 00:13:22.559
So I guess in this case, it's it's really just you you can't trust anyone in the middle.
00:13:22.720 --> 00:13:28.559
And the best channel is probably to buy directly from ledger.
00:13:28.639 --> 00:13:34.480
But even that is really scary because people thought Cold Wallet is the go-to place.
00:13:34.720 --> 00:13:35.440
Yeah, right.
00:13:35.600 --> 00:13:39.279
Um the second piece argues AI makes all of this worse.
00:13:39.600 --> 00:13:40.480
Yeah, exactly.
00:13:40.720 --> 00:13:56.399
So I guess because now custody in the AI era is a bit different because AI makes uh fishing sites, fake support agents, and personalized scams that are far more convincing than before now.
00:13:56.559 --> 00:14:00.639
So I would say even on EVM chains, right?
00:14:00.720 --> 00:14:11.600
That's a two of three safe uh when it comes to fixed starts with uh multi-sig and with one key on a phone, one on a laptop, and one backs up offline.
00:14:11.759 --> 00:14:14.480
So there's no single point of failure in that case.
00:14:14.639 --> 00:14:27.679
But AI is also useful outside those uh the devices as well, because if you have it design your custody plan and then have it play the theft to find your weakest link, it can help work that way as well.
00:14:27.840 --> 00:14:33.759
So when it comes to the AI era and the safety of it, we've seen this year.
00:14:33.919 --> 00:14:37.200
Um it's it's there's so many hacks in this space.
00:14:37.360 --> 00:14:42.399
So I think it's really gotta be very careful now, even with Cold Wallet, having things like this.
00:14:42.639 --> 00:14:47.360
Yeah, attackers have already operated, so your setup should operate as well.
00:14:47.759 --> 00:14:48.879
Indeed, indeed.
00:14:48.960 --> 00:14:52.720
I think that's the lessons we've learned from the ledger story here.
00:14:53.039 --> 00:14:53.360
Okay.
00:14:53.759 --> 00:14:55.919
Um, completely different direction.
00:14:56.080 --> 00:15:03.279
Listeners might find out like Alice, you were not here with us last week as you were at Token 24-9 in Singapore.
00:15:03.679 --> 00:15:08.639
So, can you tell us something about what they have like what people actually care about there?
00:15:08.960 --> 00:15:09.919
Uh yeah, sure.
00:15:10.159 --> 00:15:17.519
So for now we move on to part two because I want to give us uh a bit of update on what I saw at Token.
00:15:17.759 --> 00:15:19.279
Token was crazy.
00:15:19.519 --> 00:15:20.000
Why?
00:15:20.240 --> 00:15:28.720
Because back then, if you guys remember, every crypto conference, it is crypto people asking Wall Street for approval.
00:15:28.799 --> 00:15:34.799
But this year I felt different because I there were so many Wall Street institutions' names there.
00:15:35.200 --> 00:15:47.120
Goldman Sachs was there, Morgan Stanley was there, uh Nasdaq was there, BlackRock was there, and a lot of their people like in charge of the division were speaking at the conference as well.
00:15:47.279 --> 00:15:52.639
So now this year, it really feels like Wall Street wanted crypto distribution.
00:15:52.799 --> 00:15:54.080
What were they talking about?
00:15:54.240 --> 00:16:05.440
The number one topic was tokenization, tokenization of treasuries, of IPOs, uh, of stocks, all put them on crypto rail.
00:16:05.840 --> 00:16:09.679
So that's interesting because now finally the pitch has flipped.
00:16:09.919 --> 00:16:27.919
Nasdaq CEO probably produced some of the most concrete plans because he it uh Adana, that's the that's the CEO for Nasdaq, mentioned that tens of billions of collateral that is currently stuck between institutions can actually be benefited from tokenized being tokenized.
00:16:28.000 --> 00:16:37.600
Because if you guys think when it comes to tokenization of all the financial instruments, the main target people are not retail investors like us, bigger institutions.
00:16:37.759 --> 00:16:54.639
Because if institutions can tok can have some of their trading instruments put on crypto route, that means they can free up some of the capital they can do with you know yield strategies, they can they can just uh do with better settlement, and that would bring a lot more efficiency back to the market.
00:16:54.879 --> 00:17:01.120
So this is not really a crypto argument, it's more of you know financial instructor argument.
00:17:01.200 --> 00:17:06.079
So that's definitely the number one talked about thing at token 2049.
00:17:06.160 --> 00:17:18.880
How are we gonna bring the existing stocks on-chain starting from 23-hour trading, starting by Nasdaq, because there's already a CC framework in place in December this year?
00:17:18.960 --> 00:17:23.359
And they're gonna gradually switch on to 24-7 when the risk framework is up.
00:17:23.519 --> 00:17:37.279
It's also about pre-IPOs because how are we gonna tokenize equities of companies directly and we launch them as tokens for global market access as opposed to IPO at one capital market?
00:17:37.519 --> 00:17:46.079
For example, right now you're gonna choose if you want to go IPO on Nasdaq or if you want to go IPO on Linux Stock Exchange or at Hong Kong Stock Exchange, et cetera.
00:17:46.240 --> 00:18:01.119
But now, with a lot of the AI companies having such insane market cap estimations, it's going to be very difficult for a single market to accompany that much liquidity.
00:18:01.279 --> 00:18:11.119
So it makes sense, you know, in nowadays, like nowadays, AI products go global, their users are global, so their access to capital should be global as well.
00:18:11.359 --> 00:18:29.200
But also this morning I was reading out of token 2049, Goldman actually improved valuations for crypto and upgrading uh equity to overweight in the next few months and bomb to overweight for the next 12 months as well.
00:18:29.359 --> 00:18:40.400
So it seems Goldman Sachs is bullish on tokenized stocks and also um they have quite a good outlook uh later on towards AI-related equities as well.
00:18:40.480 --> 00:18:41.759
So that's quite interesting to see.
00:18:42.079 --> 00:18:42.720
That's a lot.
00:18:42.880 --> 00:18:45.680
Thanks, Alice, for sharing your experience from uh Singapore.
00:18:46.400 --> 00:18:54.000
Um, so let's go from Singapore to Beijing, China, because that one got a lot of attention over this weekend.
00:18:54.400 --> 00:18:57.680
Yeah, I don't know if you saw it on your news feed or not.
00:18:57.839 --> 00:19:03.839
This seems to be so popular, like that was the biggest movement, yeah, in the Chinese community.
00:19:04.000 --> 00:19:10.319
We saw it, but we didn't know um why it didn't get catched on in the English-speaking community as well.
00:19:10.480 --> 00:19:11.839
So, why is this so important?
00:19:12.000 --> 00:19:18.960
Why are Chinese KOLs uh and uh I guess Chinese blockchain people are so excited about this?
00:19:19.200 --> 00:19:23.599
Everyone was reading this as if, you know, is China gonna unbank crypto?
00:19:23.680 --> 00:19:28.480
It's such a monumental movement, and I think even Binance tweeted about this as well.
00:19:28.640 --> 00:19:44.160
But let's look at the details and what actually is happening here because the headline is Beijing orders a national blockchain network, and other Asia regulators are keeping uh open doors as well.
00:19:44.319 --> 00:19:49.039
Um, it seems towards regulations are towards a more open direction.
00:19:49.200 --> 00:19:58.880
On the 9th of October, the Communist Party Central Committee and the State Council published a 19-measured economic policy document.
00:19:59.039 --> 00:20:04.079
Um, so this is according to Chinese official media wang.
00:20:04.240 --> 00:20:11.279
They call for building a national blockchain network alongside an integrated national computing power network.
00:20:11.599 --> 00:20:20.559
So the aim for that is for it to sit in the section of linking the real economy to the digital economy.
00:20:20.799 --> 00:20:26.319
And that also means the manufacturing upgrades and national data infrastructure gets a lift as well.
00:20:26.559 --> 00:20:32.319
So it's very rare for blockchain as a keyword to appear in mainstream Chinese media.
00:20:32.559 --> 00:20:34.720
People were really celebrating this.
00:20:34.799 --> 00:20:35.759
But let's look at it.
00:20:35.920 --> 00:20:37.680
Does this mean this is crypto?
00:20:37.839 --> 00:20:44.400
Not really, because this is there's no mention of Bitcoin or there's no mention of you know stable coins, etc.
00:20:44.960 --> 00:20:56.400
But it seems to be again echoing Token 2049 key theme that big institutions are now moving on chain, and China is looking at that direction as well.
00:20:56.559 --> 00:21:10.079
So building a national blockchain network to integrate its uh the national computing power network um to link the real economy with the digital economy seems to be the direction for China.
00:21:10.319 --> 00:21:14.160
So that seems to be the government side that talks about blockchain.
00:21:14.319 --> 00:21:17.359
Um, how about let's talk about who's actually buying?
00:21:17.519 --> 00:21:20.319
Because Saylor was back at this week, right?
00:21:20.559 --> 00:21:28.240
Uh yeah, people didn't expect uh Saylor to publish things because today is a holiday for the US market.
00:21:28.400 --> 00:21:30.880
The bond market is not trading today.
00:21:31.039 --> 00:21:35.440
Um, so it's quite, I guess it's quite rare for us to see the announcement.
00:21:35.759 --> 00:21:40.880
Strategy disclosed that they bought another 250 Bitcoin last week.
00:21:40.960 --> 00:21:51.039
Uh its total holdings is now 848,250 BTC on their book.
00:21:51.200 --> 00:21:57.039
So yeah, it's a great movement from Michael, Michael Saylor, and strategy keep on buying the market as well.
00:21:57.680 --> 00:21:57.920
Right.
00:21:58.079 --> 00:21:59.759
Now, now give me the bad news because.
00:22:00.160 --> 00:22:05.440
Because I look at the ETF flows this morning and it looks uh it was wasn't so pretty.
00:22:05.759 --> 00:22:09.759
Yeah, so the ETF side is having quite a bit of a shock.
00:22:10.000 --> 00:22:20.240
The DAT is buying, sailor is buying 250 BTC, but the larger, the Lion's shot share, the uh ETF side seems to be selling it.
00:22:20.400 --> 00:22:22.720
Because let's look at what has what happened.
00:22:22.960 --> 00:22:26.880
We had such a great past few weeks, guys.
00:22:27.119 --> 00:22:34.960
3.5 billion dollars of inflows into ETFs for the past few weeks, right?
00:22:35.440 --> 00:22:42.559
And last week it ended it all because crypto ETFs lost 1.3 billion USD last week.
00:22:42.799 --> 00:22:46.240
Does that mean Wall Street is now changing its mind on Bitcoin?
00:22:46.400 --> 00:22:55.440
Let's look at it because ETF has gone from being the catalyst to now actually being a thermal stats for the market.
00:22:56.240 --> 00:23:02.160
What I mean by that is uh Bitcoin last week lost about 617 million USD.
00:23:02.400 --> 00:23:07.519
Ether lost about 500 million USD in the ETF outflows, right?
00:23:07.839 --> 00:23:16.240
Uh it's it's it's making us thinking, you know, when we have major ETF outflows like that, we see the market price reacting to it.
00:23:16.400 --> 00:23:25.119
Maybe that's the reason why we're seeing BTC dropping down from 85K, 84K to now 82K.
00:23:25.359 --> 00:23:32.160
And even the good news coming out from China over the weekend didn't give the market that much of an uplift.
00:23:32.319 --> 00:23:33.440
So what is happening?
00:23:33.599 --> 00:23:37.039
It doesn't seem to be institutions are leaving crypto.
00:23:37.200 --> 00:23:44.400
It's rather they are shifting attention to the bond market because US 10-year bond is at 5.2% yield.
00:23:44.480 --> 00:23:48.079
We haven't seen that for since 2002.
00:23:48.319 --> 00:23:50.079
Okay, 2002.
00:23:50.400 --> 00:24:05.039
So that's why some of the institutions are looking to reallocate their capital, maybe pulling it out from things like Bitcoin that doesn't give a yield to chase a yield of 5.2% on the US Treasury.
00:24:05.279 --> 00:24:10.799
But what's really interesting is which funds actually had the had the outflow?
00:24:11.039 --> 00:24:14.960
Because the one coming from BTC is not from the BlackRock fund.
00:24:15.200 --> 00:24:18.079
It's actually from Fidelity and ARC.
00:24:18.319 --> 00:24:19.920
So Kathy Woods ARC.
00:24:20.240 --> 00:24:22.319
These two are the major outflows.
00:24:22.480 --> 00:24:29.599
It seems to be, you know, IBIT, the BlackRock, iShare's uh Bitcoin Trust, seems flat.
00:24:29.759 --> 00:24:33.680
It didn't have the outflow that uh we were describing.
00:24:33.839 --> 00:24:40.480
So it seems the believers keep on believing maybe some institutions are shifting away because of the yield hike.
00:24:40.880 --> 00:24:41.920
So that's the reason.
00:24:42.000 --> 00:24:59.279
But if you look at Ethereum, Ethereum seems to be a bit more bearish in terms of ETF outflows because it's been nine days, continuous days of outflows, and ether did and the outflows were left from the largest uh ETHA, the IShare fund as well.
00:24:59.440 --> 00:25:10.720
So to me, that seems institutions are shifting away from Ethereum and maybe potentially to something else, either a safer asset or maybe rotating into our coins.
00:25:10.960 --> 00:25:11.440
We don't know.
00:25:11.759 --> 00:25:12.079
Okay.
00:25:12.480 --> 00:25:16.799
Um, so that's the case from the fundamental side.
00:25:16.960 --> 00:25:19.200
Um let me take the other half of that.
00:25:19.359 --> 00:25:22.319
Let me show you what the chart actually says.
00:25:22.480 --> 00:25:29.039
Um, I'm new here and I'm not going to stand up on my first show and pretend that I'm a chart analysis.
00:25:30.319 --> 00:25:35.359
So I did what I'd actually do, which is use our CMC own tool.
00:25:35.599 --> 00:25:39.519
So we have been building something called a genetic charts.
00:25:39.680 --> 00:25:46.640
Uh, the short version, you pull out a chart, you ask it a question in plain English, and it reads the chart back to you.
00:25:46.960 --> 00:25:51.599
Structure, support, resistance, momentum, volume.
00:25:51.759 --> 00:25:56.720
And the bit I actually like is that it tells you what would prove it wrong.
00:25:56.960 --> 00:26:02.160
Most chart analysis you read online tells you where it thinks price is going.
00:26:02.400 --> 00:26:08.400
This thing tells you the exact level where it owns its own read stops working.
00:26:08.559 --> 00:26:11.039
Um, that's a much more useful thing to know.
00:26:11.279 --> 00:26:17.839
So I ran Bitcoin through it this morning, and I'm just going to walk you through what it said.
00:26:18.160 --> 00:26:20.640
And I will say a usual disclaimer.
00:26:20.799 --> 00:26:29.599
So this is analysis, not advice, and I'm reading you a tool's output, not a recommendation uh from me or from CMC.
00:26:30.240 --> 00:26:32.240
And here's what it found.
00:26:32.480 --> 00:26:36.960
Bitcoin bought in at the start of July around 58,000.
00:26:37.359 --> 00:26:39.680
It's at 83.2 now.
00:26:40.000 --> 00:26:49.039
So it's up something like 40% in three months, and it's been making higher highs and higher lows in the whole way.
00:26:49.519 --> 00:26:54.880
On the daily chart, um, that is a healthy uptrend and it is still intact.
00:26:55.200 --> 00:26:59.759
But zoom out one more level to the weekly and it's a range.
00:26:59.920 --> 00:27:09.119
And the highs in the range have been getting lower, and zooming to the four hour end is going sideways, confirming nothing.
00:27:09.440 --> 00:27:18.960
So, same chart, three time frames, three different answers, weekly says range, daily says uptrend, four hours says wait.
00:27:19.200 --> 00:27:26.079
Um, and I think which one you listen to depends entirely on whether you're trading this week or holding for the year.
00:27:26.240 --> 00:27:31.440
Now, here's the part where they all agree, and this is the one thing I'd write down.
00:27:31.599 --> 00:27:39.759
Um there's a level at roughly 82 and a half thousand that four completely different methods all point at.
00:27:40.000 --> 00:27:54.079
The 30-day average is there, the 38% retracement is there, the support that shows up on both the daily and the weekly is there, and the structural level that holds this whole uptrend together is there.
00:27:54.319 --> 00:27:59.039
Four unrelated methods landing inside a$200 band.
00:27:59.759 --> 00:28:01.039
So that's the line.
00:28:01.279 --> 00:28:05.839
We are at 83.2, so it's about 1% below us.
00:28:06.240 --> 00:28:10.319
While daily closes stay above it, this is a pullback.
00:28:10.559 --> 00:28:16.160
A daily close below it doesn't make it a bear market, but it does end the constructive read.
00:28:16.319 --> 00:28:20.720
Below that, the real support zone is 81 to 82.
00:28:20.960 --> 00:28:23.039
That's being tested repeatedly.
00:28:23.359 --> 00:28:34.640
And if that went, the next meaningful area is 76 to 77 and a half, which would be a much bigger retracement and a different conversation entirely.
00:28:34.880 --> 00:28:48.000
Going the other way, um the nearest ceiling is about 83.8, which is basically right on top of us, and then generally nothing until um 87 to 87.4.
00:28:48.799 --> 00:28:51.920
And that's a big one because it contains a recent hike.
00:28:52.559 --> 00:28:54.559
And here's the detail I like.
00:28:54.720 --> 00:29:00.480
For a break above there to mean anything, it wants the daily close around 8084.
00:29:00.799 --> 00:29:04.400
That's the top of the zone, plus half a day's average range.
00:29:04.640 --> 00:29:06.880
Anything less and it's just a week.
00:29:07.200 --> 00:29:10.079
Two honest caveats before I came back.
00:29:10.319 --> 00:29:13.599
So one momentum um has normalized.
00:29:13.839 --> 00:29:17.519
RSI is about 54, which is dead neutral.
00:29:17.680 --> 00:29:20.559
Uh that's not a warning, but it's not fuel either.
00:29:20.720 --> 00:29:23.680
It says consolidation, not acceleration.
00:29:24.000 --> 00:29:26.799
Second, uh, this is the one that matters.
00:29:27.039 --> 00:29:31.359
The volume isn't there, the heaviest participation was during the move up.
00:29:31.599 --> 00:29:33.359
Recent volume is mixed.
00:29:33.680 --> 00:29:42.640
So if Bitcoin does clear that resistance, which whether volume comes with it, a breakout and thin volume is how you get trapped.
00:29:42.960 --> 00:29:51.759
So three numbers, 82.5 is a line, 81 to 82 is a floor under it, 87 is a ceiling.
00:29:52.000 --> 00:29:55.039
Everything in between, I could I can call it a noise.
00:29:55.200 --> 00:29:57.680
And again, not advice, go pull up this.
00:29:57.759 --> 00:30:00.640
You can go pull up this on CMC yourself.
00:30:00.880 --> 00:30:08.880
Okay, I think uh that's a perfect handover because I've just given you levels, Alice, and Alice is about to tell you about supply.
00:30:09.119 --> 00:30:30.559
Uh yeah, let's look at it because in terms of uh the debate in the market for whether this is going to be the, you know, if if the deep for BTC is over behind us, because people are looking at 84K as a very K level to watch out.
00:30:30.720 --> 00:30:34.640
I think Shane, you mentioned in your TA as well, right?
00:30:34.880 --> 00:31:02.720
Because quite a few things uh people are looking at whether uh the deep is done, because that's one of the most debated topics on QuanMarketCap community today, is the deep behind us, because people were feeling you know, a rejection at 87k and a flash drop below 84k seems to be a fake out, or maybe is this a start of a deeper lag.
00:31:02.880 --> 00:31:05.519
I think the TA there just now is very, very useful.
00:31:05.599 --> 00:31:10.799
And the gentic chart is something you guys definitely should use, or should um should try.
00:31:10.880 --> 00:31:15.759
Because let me share, let me see if I can share my my agentic chart with you guys.
00:31:16.000 --> 00:31:22.880
So this you if you go on to Quan Market Cap, you can have all the different um like you can see the pop-up there.
00:31:22.960 --> 00:31:25.039
So you you can get on there and you can ask questions.
00:31:25.200 --> 00:31:32.000
For example, uh, give me the TA for Bitcoin based on daily chart, like Shanya was doing.
00:31:32.160 --> 00:31:40.000
And then CMC agentic charts can help you plot out the K-levels, analyze the market, and it's plugged into CMC AI as well.
00:31:40.079 --> 00:31:45.839
So we'll have quite a good all-around analysis for it for you guys.
00:31:46.000 --> 00:31:52.000
So it's not just, you know, uh it's not just the Bitcoin that you can do, can do with some other tokens as well.
00:31:52.160 --> 00:31:52.799
You can choose.
00:31:52.960 --> 00:31:54.880
I saw people are asking about XRP.
00:31:54.960 --> 00:31:58.079
Feel free to try it out on XRP by yourself.
00:31:58.160 --> 00:32:02.000
I'm just gonna let my agent run on the things here, right?
00:32:02.240 --> 00:32:05.119
So that is on Bitcoin.
00:32:05.200 --> 00:32:10.079
But I guess the argument, the debate here is is BTC gonna drop?
00:32:10.240 --> 00:32:12.960
Because now 82 seems a bit scary at the moment.
00:32:13.039 --> 00:32:15.839
I saw a few comments flying through.
00:32:16.079 --> 00:32:19.359
People were saying, oh, I anticipate 70k for BTC.
00:32:19.519 --> 00:32:25.920
Come on, guys, we find we finally moved away from the 770s, finally got into the 80s.
00:32:26.160 --> 00:32:30.400
I really sincerely hope we don't dig back into the 770k again.
00:32:30.559 --> 00:32:34.319
And this week, Wednesday, CPI print.
00:32:34.480 --> 00:32:40.640
That is going to be the last CPI print before the end of October FOMC meeting.
00:32:40.720 --> 00:32:46.400
On the 28th of October, we're gonna have one more fat interest rate decisions, right?
00:32:46.480 --> 00:32:54.559
If it um by the look of it, 14 out of 16 seems to be agreeing on increasing the rate again.
00:32:54.720 --> 00:33:00.720
So, what that will do, it's gonna basically run through the market again, like what they did in September.
00:33:00.880 --> 00:33:02.480
Gold is likely to suffer.
00:33:02.640 --> 00:33:12.079
Bitcoin, we will have to say by that point if we can actually get an uplift because we are more like NASDAQ, or are we gonna get a hate because we're more like gold?
00:33:12.240 --> 00:33:19.759
Um, so review what happened in September, and that's likely to play out again end of October because of Fed interest decisions.
00:33:19.920 --> 00:33:30.240
So, on the shorter term, then how do you trade before end of October, mostly on derivative positions, mostly on um, you know, the volume in the market.
00:33:30.319 --> 00:33:33.119
So track liquidity before you track the price.
00:33:33.279 --> 00:33:38.960
So that's why a lot of the CMC AI tools and the genetic charts can be of that use as well.
00:33:39.599 --> 00:33:47.440
But again, because we saw BDC back above 84K earlier this morning, it did come back down to 82K.
00:33:47.920 --> 00:34:00.400
But let's definitely watch out around the 14th to 16th of October, around the uh CPI print time to see if the market is going to price in an early interest rate hike or not.
00:34:00.559 --> 00:34:07.119
So, yeah, so that concludes on the uh TA and on the BTC price analysis side.
00:34:07.359 --> 00:34:13.360
One last thing I have for you guys before we wrap up today's podcast is on the token analogs.
00:34:14.320 --> 00:34:22.480
So I have quite a few names to share with you guys, and some of them are indeed causing the price movement of the token itself.
00:34:22.719 --> 00:34:26.559
So going through the list, number one, I have Aptos.
00:34:26.960 --> 00:34:30.719
It is going to let me bring up the token unlocks page for you guys later as well.
00:34:30.800 --> 00:34:35.280
So Aptos Ticker APT, it is getting unlocked on the 11th.
00:34:35.519 --> 00:34:44.239
Sorry, it was a it's going to get unlocked for about 0.6% of circulating supply valued around 9.5 million USD.
00:34:44.320 --> 00:34:49.280
So that is uh midnight um today, morning, depending on your time zones.
00:34:49.360 --> 00:35:02.079
And number two, I have Starknet Tigger STRK getting unlocked on the 15th of October for about 3.3% of circulating supply valued around 14 million USD.
00:35:02.239 --> 00:35:13.840
Number three, I have SI, Tiger SEI, getting unlocked on the 15th of October for about 0.8% of circulating supply, valued around 3.7 million USD.
00:35:14.000 --> 00:35:25.760
Number four, I have Arbitrum, Ticker ARB, getting unlocked on the 16th of October for about 1.5% of circulating supply valued around 18.4 million USD.
00:35:26.239 --> 00:35:39.440
Number five, I have Kurnos, Ticker CRO, uh getting unlocked on the 17th of October for about 2.33% of circulating supply valued around 70 million USD.
00:35:39.599 --> 00:35:43.280
Those are the major unlocks for this week.
00:35:43.599 --> 00:35:50.400
So yeah, if you get if you already hold those tokens, just pay attention to the volatility closer to time.
00:35:50.639 --> 00:35:51.199
Cool.
00:35:51.360 --> 00:35:55.119
Um that's a wrap on this week's weekly crypto forecast.
00:35:55.280 --> 00:35:58.800
Um, before we go, a quick heads up, and this one's important.
00:35:59.119 --> 00:36:02.480
Nothing we've shared on this show is financial advice again.
00:36:02.639 --> 00:36:11.039
The views and opinions you heard today are ours and ours alone, and they don't necessarily represent the views of CoinMarketCap.
00:36:11.360 --> 00:36:15.039
Always do your own research before you ape into any token.
00:36:15.360 --> 00:36:17.199
And we will be back at 3 p.m.
00:36:17.440 --> 00:36:18.719
UTC next Monday.
00:36:18.880 --> 00:36:19.519
See you.
