Mooners and Shakers: Bitcoin Steady As Analysts Look Less and CommBank Pauses On Crypto Pilot

Bitcoin is attempting to break another $30K support at the time of writing. But there is not much confidence in the market at the moment – something via CommBank.

Last November, the Commonwealth Bank of Australia revealed its planned foray into the world of cryptocurrency trading. Australia’s largest bank then announced a pilot program for a service that will eventually enable more than 6.5 million CommBank users to buy and sell up to 10 cryptocurrencies, including BitcoinAnd EthereumAnd Litecoin.

The program was also in progress, but as of today its pause button has been pressed, with no specific time frame yet on when it will resume. Dust from a Terra LUNA failure may need to settle first.

In this week’s tech briefing, as I mentioned WatchmanMatt Komen, the bank’s CEO, said:

“As the events of the last week have consolidated, it is clear that it is a very volatile sector and still presents a huge amount of interest. But along with that volatility and awareness and I think the scale, certainly global, you can see that there is a lot of interest from regulators and people who are They are thinking of the best way to organize it.”

Komen added that CommBank, which participated in a $400 million cryptocurrency exchange and custody fund Gemini funding round last November, still intends to restart the crypto trading pilot.

But, the CEO added, “there are still some things we want to work through on the regulatory front to make sure that’s the most appropriate.”

Ah well, forward and up… (after cutting aside or potentially falling off another cliff first).

Overview of the top 10

With the total market capitalization of cryptocurrencies at around $1.35 trillion, up 3.6% since this time yesterday, here is the current state of the top 10 coins – according to CoinGecko.

It looks a little healthier than it did yesterday, as does the number one sentiment indicator in the industry – the Crypto Fear & Greed Index – which we thought could be number one today.

He’s actually up 1 point out of 100 since Wednesday, making him less likely to wet his pants very slightly in his very dreaded state.

Source: the alternative

So what do many analysts see today? WhaleMap, which tracks and analyzes the trading patterns and movements of large Bitcoin investors, detects support levels just below the $30K USD that the market is launching at the moment.

About $24,000 to $26,000 is where it’s at, apparently, otherwise… See you in ‘Puck Town’ as the crypto kidz says.

Want something more bullish in the short term? Yesterday we said Roman_Trading has been somewhat bearish in recent months, but five hours ago (at the time of writing), it was spotting an “inverted head and shoulders” pattern on a lower time frame. This is often preceded by a move higher, although it may have already taken place, causing Bitcoin to pull back above $30K once again.

I’m not saying it’s a move that will last, but it looks like he made another valid short-term call.

Meanwhile, a robust chart watcher, Rekt Capital is one such trader to look to the RSI (Relative Strength Index) — a “momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions,” according to Investopedia. .

Seeing the Bitcoin RSI at this low and “oversold” looks kind of exciting, indicating that a market bottom could, in theorybe soon.

But…then again…as the author and trader “Cheds” recently pointed out, RSI trends can last for a long time.

Sweeping a market cap range of between $11.3 billion and approximately $563 million in the rest of the top 100, let’s find some of the biggest gainers and losers over 24 hours at press time.

daily pumps

XDC Network (XDC), (market capitalization: $589 million) +11%

expensive Gala, (MC: 639 million USD) + 7%

synthetic (SNX), (MC: $604 million) 7%

Cosmos (ATOM), (MC: 3.16 billion USD) 5%

sand (Sand), (MC: 1.59 billion USD) 5%

daily skis

TerraUSD (UST), (market capitalization: $891 million) ($0.078) -22%

Tera Luna (MC: $919 million) -19%

Series (XCN), (MC: 1.56 billion USD) -15%

convex finance (CVX), (MC: $640 million) -6%

waves (WAVES), (MC: $617 million) -5%

Upper and lower parts: lowercase letters

Going below crypto unicorns (in some cases much less), here’s a selection that catches our eye…

daily pumps

DIA (DIA), (market capitalization: $43 million) + 48%

Marilyn (POND), (mc: $44 million) + 41%

Polysurm (NCT), (MC: $37 million) + 36%

Keep3rV1 (KP3R), (MC: 57 million USD) + 35%

slope (RAMP), (mc: $18 million) + 29%

daily skis

goldfinch (GFI), (market capitalization: $13 million) -21%

Retrip (TREEB), (MC: 16 million USD) -18%

Tokemak (token), (MC: 72 million USD) -16%

UniLend Finance (UFT), (mc: $15 million) -16%

Anchor Protocol (ANC), (MC: $36 million) -13%

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