Crypto Market Insights 28th September 2022

  • Bitcoin & Ethereum are down 12% & 25%, respectively, over the past fortnight.
  • The Cosmos 2.0 whitepaper was revealed on Monday, citing interchain security, major new structures for the Cosmos Hub, and a new issuance model for the $ATOM token.
  • Crypto market maker Wintermute suffered a $160m DeFi exploit last Tuesday. The firm still owes $200m in outstanding DeFi debt to several counterparties but has reassured its community that its OTC business has not been affected.
  • US interest rates increased 75 basis points at last week’s FOMC conference.
  • Traditional markets, the S&P 500 & the Nasdaq 100, are down 10.7% & 10.9%, respectively, over the past fortnight.
  • Greythorn views that Bitcoin will remain below $23,000 over the upcoming week.
  • If price decreases, $18,750 is the next significant support, followed by $14,000 as a relatively weak level of support.
  • If price increases, the first resistance is $19,500, which is set to weaken after this week’s expiration. $21,000 and $22,000 are the following levels of significant resistance.

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Greythorn Asset Management

Melbourne-based asset management firm, focused primarily on Tech | Web3 | Crypto | Blockchain | DYOR/NFA. Subscribe to hear our latest industry insights.