Mooners and Shakers: Bitcoin Stable as Analysts Look Lower and CommBank Pauses on Crypto Pilot – Stockhead

Bitcoin is trying to make another attempt to support US$30k ​​at the time of writing. But there’s hardly a lot of confidence in the market right now – something that happens to CommBank.

Last November, the Commonwealth Bank of Australia announced its planned step into the world of crypto trading† Australia’s largest bank then announced a pilot program for a service that would eventually allow more than 6.5 million CommBank app users to buy and sell up to 10 cryptos, including BitcoinEthereumand Litecoin

The program was also underway, but as of today, the pause button has been pressed, with no exact timetable as to when it will resume. The dust raised by the Terra LUNA fiasco may need to settle first.

In a technical briefing this week, as reported by the guardthe bank’s CEO, Matt Comyn, noted:

“As the events of the past week have intensified, it is clearly a highly volatile sector that continues to hold tremendous interest. But beyond that volatility and awareness and I think the scale, certainly globally, you see a lot of interest from regulators and people thinking about the best way to regulate that.”

Comyn added that CommBank, which participated in the $400 million funding round of the Gemini crypto exchange and custodian company last November, still plans to restart the crypto trading pilot.

But, the CEO added, there are “still a few things we want to work on in the regulatory area to make sure that’s the most appropriate.”

Oh well, further and up… (after chopping sideways or possibly falling off another cliff first).

Top 10 overview

With the total crypto market cap of approximately US$1.35 trillion, up 3.6% since this time yesterday, here is the current state of affairs in the top 10 tokens – according to CoinGekko

It looks just a little bit healthier than at this time yesterday, as does the industry’s key sentiment indicator – the Crypto Fear & Greed Index – which we thought could be a single digit today.

It’s jumped a point in 100 since Wednesday, making it only marginally less likely to get wet in its pants in its extremely anxious state.


So what are different analysts seeing these days? WhaleMap, which tracks and analyzes the trading patterns and movements of major Bitcoin investors, is seeing support levels well below the $30k the market is currently targeting.

About US$24k to $26k is where it is, apparently, otherwise… see you in “goblin town” as the crypto kidz say.

Want something a little more bullish in the short term? Yesterday we said @Roman_Trading has been fairly consistently bearish over the past few months, but just over five hours ago (at the time of writing) saw a “head and shoulders inverted” pattern on a low time frame. That often precedes a rise, although it may have already played out, pushing Bitcoin back above US$30k.

I’m not saying it’s a move that will hold up, but it looks like he made another correct short-term decision.

Meanwhile, Rekt Capital, another solid chart watcher, is a trader who watches the RSI (relative strength index) — which is a “momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions,” according to Investopedia

Seeing the Bitcoin RSI so low and “overold” seems a bit tempting, indicating that a market bottom in theorybe close.

But… on the other hand… as author and trader “Cheds” recently pointed out, RSI trends can linger for a long time.

With a market cap range of about US$11.3 billion to about US$563 million in the rest of the top 100, let’s find some of the biggest 24-hour winners and losers at the time of writing.


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

Gala (GALA), (mc: US$639 million) +7%

Synthetix (SNX), (MC: US$604 million) 7%

Cosmos (ATOM), (mc: US$3.16 billion) 5%

The sandpit (SAND), (mc: US$1.59 billion) 5%


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

Terra (LUNA), (mc: US$919 million) -19%

Chain (XCN), (mc: US$1.56 billion) -15%

Convex Finance (CVX), (mc: US$640 million) -6%

Waves (WAVES), (mc: US$617 million) -5%

Uppers and downers: lower caps

Among the crypto unicorns (well below in some cases), here is just a selection that catches our eye…


SLIDE (DIA), (market cap: US$43 million) +48%

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

PolySwarm (NCT), (mc: US$37 million) +36%

Keep3rV1 (KP3R), (mc: US$57 million) +35%

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


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

retreeb (TREEB), (mc: US$16 million) -18%

Tokemak (TOKE), (mc: US$72 million) -16%

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

Anchor protocol (ANC), (mc: US$36 million) -13%

Around the blocks

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#Mooners #Shakers #Bitcoin #Stable #Analysts #CommBank #Pauses #Crypto #Pilot #Stockhead

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