Self-Custody Support from Michael Saylor
MicroStrategy founder Michael Saylor has expressed support for self-custody, following criticism over his previous comments supporting regulated custody methods for Bitcoin. Saylor said he supports it for those who have the ability to self-custody, but emphasized that individuals and institutions should also have the freedom to choose self-custody options. His previous comments supporting regulated entities like BlackRock and Fidelity have been criticized by prominent members of the crypto community, such as Ethereum founder Vitalik Buterin. This debate comes amid growing interest in traditional investment products like spot Bitcoin ETFs.
Brad Garlinghouse: Get Ready for a Crypto Reset
Ripple CEO Brad Garlinghouse has stated that he foresees a “reset” in the crypto industry following the upcoming US elections, regardless of which candidate wins. Speaking at DC Fintech Week, Garlinghouse described the Biden administration as “hostile” to crypto, while expressing hope for progress in the future. Garlinghouse noted that candidates Kamala Harris and Donald Trump approach crypto differently, and that Trump has positioned himself as a “crypto president.” Ripple continues to support pro-crypto politicians, with Garlinghouse slamming Senator Elizabeth Warren and supporting Republican opponent John Deaton. Ripple continues its legal battle with the SEC over the classification of XRP as a security.
Artificial Intelligence and the Rise of Memecoin in Solana
Solana’s (SOL) price has surged over the past week, outperforming cryptocurrencies like Bitcoin (BTC) and Ether (ETH), with an 11% gain. This rally was fueled by increased blockchain activity, including memecoin trends on Solana-based DeFi protocols and tokenization by AI brokers. Network revenues have exceeded $4 million in transaction fees, while the number of active users has surpassed 8 million. Additionally, open interest in SOL futures has increased significantly, suggesting strong bets on future price gains.
Bitcoin Whales on Track for a Record
The number of Bitcoin whales holding at least 1,000 BTC has reached 1,678, the highest level since January 2021, increasing confidence in Bitcoin’s price potential. The accumulation of these large investors and the increasing demand for US-listed spot ETFs provide an optimistic outlook for Bitcoin. While the accumulation of retail investors has slowed, large investors have accumulated significantly more Bitcoin. Bitcoin is currently trading above $67,000, and analysts are targeting $80,000 to $100,000 by the end of the year.
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BITCOIN (BTC)
BTC is priced at $67,364 with a 1.07% gain as of the morning hours. First of all, the 67,950.00 level has been determined as an important resistance point. If the price exceeds this level, there is a possibility of an increase towards the 68,500.00 and then 69,000.00 levels. However, these resistance levels should be evaluated as areas where sellers can be effective. Below, there is a support zone at 66,000.00. If the price falls below this level, a pullback towards the 64,605.71 levels may occur. Movements below this level may indicate that selling pressure may increase. The 67,950.00 level stands out as resistance, while the 66,000.00 level stands out as support.
ETHEREUM (ETH)
ETH is priced at $2557 with a 1.28% gain as of the morning hours. First of all, there is a significant resistance point at the upper level at 2,819.69. If the price approaches this level, there is a possibility of a pullback or resistance to 2,800.00. If this level is exceeded, 2,880.00 levels can be targeted. Below, there is a support zone at 2,461.59. This level can act as an important defense line in case the price moves down. If the price falls below this level, a drop to 2,338.99 levels can be experienced. In addition, 2,680.00 and 2,640.00 levels should also be considered, as these levels are potential resistance points that can cause fluctuations in the short term.
RIPPLE (XRP)
XRP is priced at $0.531 with a 0.99% loss as of the morning hours. Among the upper resistance levels, if the price approaches the 0.5900 level, it is likely to encounter significant resistance here. If a close occurs above this level, the price may rise to the 0.6500 levels. The lower support levels are determined as 0.5100 and 0.4900. These levels can act as important support zones in downward movements. The 0.4900 level in particular is a support point that should be noted in declines. When the price movements are examined, it is observed that XRP showed significant fluctuation in previous time frames, followed by a consolidation around 0.5400. The price rose to the 0.5500 levels, but there was a pullback here again.
AVALANCHE (AVAX)
AVAX is priced at $27.11 with a 1.35% loss in value as of the morning hours. Upper resistance levels are between 29.00 and 30.00. If the price holds permanently above these levels, upward movements can be expected to continue. Especially the 29.00 level stands out as an important resistance point in the short term. Lower support levels are determined as 26.37 and 25.00. If the price tests the 26.37 level and closes below this level, a pullback towards the 25.00 level may occur. In addition, the consolidation movement seen at the 27.50 level may be a critical area for determining the direction of the price. When the price movements are examined, it is observed that a pullback is seen after a move towards the 28.50 level, and then it falls back to around 27.00.
SOLANA (SOL)
SOL is priced at $173.49 with a 1.52% gain as of the morning hours. The upper resistance level stands out as 176.00, and if a permanent hold is achieved above this level, the price can be expected to move higher. In addition, the 180.00 level can be seen as a potentially important target. The lower support levels are determined as 163.70 and 160.00. If the price tests the 163.70 level and closes below this level, a pullback towards the 160.00 level may occur. When the price movements are examined, it is observed that it is in an uptrend starting from the 160.00 level. This situation reveals that its current position at the 173.22 level is an important indicator for a potential reversal or continuation.
