Dear Teroxx Community,

This week we saw a crypto-market that took Bitcoin to a new all-time high! So we saw positive movements even if the market now has to face greater resistance.

Weekly overview

As usual, we are also providing detailed videos for those who want to delve deeper into the subject.

Latest crypto news

Major Bitcoin investors, the so-called “whales”, are currently selling parts of their assets to institutional investors, while the shortage of the crypto-currency is becoming increasingly acute.
As data from several sources show, although more and more Bitcoin (BTC) is being deposited and offered for sale on crypto exchanges, demand, especially from institutional investors, continues to be significantly greater than the existing supply.

Synthetic assets, one of the most interesting fields of application in the field of decentralised financial services (DeFi), is slowly becoming more and more competitive. So now two new projects are about to bring scalability and a broader range of services to the market.
Accordingly, the decentralised trading platform Injective Protocol introduced “synthetic” gold on its Layer 2 test network Solstice for the first time on Friday.
Trading platforms for synthetic assets such as Injective often have problems in providing sufficient liquidity. In order to offer financial products that reflect price movements of assets in the real world, a broad pool of liquidity is needed to absorb the corresponding fluctuations.

The S&P Dow Jones Indices are a joint venture between S&P Global, the CME Group and News Corp. The Group plans to launch cryptographic currency indices for the first time in 2021, it has confirmed. “As digital assets such as crypto currencies are a rapidly evolving asset class, it is time to launch independent, reliable and user-friendly benchmarks,” said Peter Roffman, global head of innovation and strategy at S&P DJI.
This reaffirms Wall Street’s commitment to Bitcoin and other digital currencies and underlines the interest in the institutional sector.

Technical term of the week

All-time-high: The all-time high defines a point that is the highest ever measured for an asset. In traditional investment products this is the US dollar (or other FIAT currency) value. An all-time high usually also represents a high level of resistance.

Crypto Market

This week a very “spectacular” event took place in the crypto currency market. Bitcoin could reach a new all-time high*. Thus the positive market sentiment was maintained. However, the new high could not bring any further bullish movements into the market, which resulted in smaller sell-offs. As a result, the market was uneventful and without volatility sideways.
Altcoins were not able to reach new all-time highs, so the market was / is clearly dominated by Bitcoin. We are now between the all-time high resistance at ~$19,900, which was strengthened by repeated testing, and the local support at $18,500.
The market is still in a bullish trend. Sales continue to be bought back heavily.

*Based on Binance Spot Price

Bulish outlook: If support levels continue to hold, there could be a year-end rally, which would drive the markets. Opportunities would then arise, especially in altcoins.

Bearish Outlook: $18,500 must hold as support. A loss of these price levels could lead to larger sell-offs down to $17,000.