Trading Desk Insights
BTC slipped hard toward $119,700 early, dragging sentiment across the board, while ETH reneged on its weekly gains and slid 3%. BTC then rallied up to $122,500, hitting the lower trend line on the 30‑minute chart. That zone proved sticky as resistance and reversed any breakout hopes fast. SOL tried to rally too, up 4% this morning, but eventually capitulated with the rest of the market.
Pulling back to the daily frame, downside remains on the table. The 20‑day MA 117,500 and 50‑day MA 115,000 now loom as plausible targets if the sellers take over. That said, traders in BTC are still holding onto optimism, recent profit taking has clipped its run, but conviction hasn’t fully broken.
The real litmus test coming is ETF flows, are we seeing durable spot demand? The market is currently undergoing a leverage reset, with volatility clearing out excess positions on both sides. Open interest in global BTC futures remains elevated, just under the all‑time high 755,000 BTC. Vols across 14, 30, 90‑day expiries have jumped to 30‑day highs, signaling that the market is bracing for a big move ahead.
Privacy plays are flickering back to life. ZEC is up 80% on the week, and Monero, DASH, even smaller names like Railgun have logged 24h moves in the 30–40% range. The rotation into the privacy sector is interesting capital is hunting fresh narratives just as the majors are catching their breath.
On the macro side, the Fed’s October 29 meeting is looming large and has markets in a cautious posture. The U.S. government shutdown just hit its 10th day after the Senate failed yet again to pass funding. The dearth of fresh U.S. economic data is narrowing catalysts, leaving investors to lean heavily on earnings. And with earnings season kicking off next week, that may be our next directional shove.
Crypto Charts
ETF Flow
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
Contact Us
Sign up to receive more exclusive market coverage:
Start trading with Secure Digital Markets today by e-mailing:
trading@securedigitalmarkets.com