The cryptocurrency market digest (BTC). Overview for 11.10.2023

The price of BTC declined to 27,112 USD on Wednesday.

From a fundamental standpoint, the market is still uneventful, with no indications about the progress of Bitcoin ETF application approvals. The first updates are expected next week, but there is no certainty that they will be positive.

The cryptocurrency sector does not react to investors shifting away from fiat platforms in their risk aversion attempts or risk sentiments. The correlation between BTC’s value and the S&P 500 and Nasdaq indices appears minimal.

Technical levels remain unchanged. Resistance levels are sequentially positioned at 28,000 USD and then 28,500 USD. These levels must be firmly surpassed to target a rise of 30,000 USD.

The cryptocurrency market capitalisation has decreased to 1.06 trillion USD. BTC’s share has risen to 50.1%, while ETH has declined to 17.7%.

Quant launches transaction security technology

Quant has announced the launch of a solution to make blockchain-based banking transactions even more secure. The technology, known as Overledger Authorise, aims to resolve payment-related challenges within the banking sector.

Fidelity considers BTC the safest token

The Fidelity fund confidently believes in BTC’s security as a cryptocurrency. Fidelity Digital Assets’ research states that BTC is both the scarcest and the most decentralised token in the world. Fidelity suggests that BTC is best valued as a monetary commodity. This viewpoint might spark debate among other participants in the cryptocurrency market.