Analysis

BNB bullish rally has hit a wall as the $600 resistance level proves to be a formidable barrier. After an impressive upward run, momentum has stalled, and downside pressure is starting to build. 

Investing.com-- The Federal Reserve’s first interest rate cut in over four years quelled market fears of a recession, Goldman Sachs (NYSE:GS) said, with improved risk appetite likely to boost rate-sensitive Asian currencies. 

Bitwise Chief Investment Officer Matt Hougan has recently highlighted a growing trend of top financial advisors “allocating to cryptocurrency” in their portfolios.

EUR/USD cut away bearish sentiment and rallied back into recent highs on Tuesday, taking another unsuccessful run at 1.1200. The Euro itself has little reason to be bid up by traders, but a broad-market weakening in the Greenback is helping to keep Fiber bidding action on the high side.

Investing.com -- Bank of America (NYSE:BAC) double-downgraded Triumph Group (NYSE:TGI) to Underperform from Buy, citing concerns about the company's reliance on uncertain production rates from Boeing (NYSE:BA) and Airbus.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.30 on Wednesday. WTI price edges higher amid the positive development surrounding Chinese stimulus measures and ongoing geopolitical tensions in the Middle East. 

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently making a retest that could prove significant for BTC’s price.

Dogecoin holders are working tirelessly to change the crypto’s trajectory after previous weeks of stagnation and disinteresting price action. Notably, on-chain data suggests that large holders of Dogecoin are working on extending a promising price rally last week.

Investing.com -- Tesla's (NASDAQ:TSLA) latest version of its Full Self-Driving software is "suspect" and still requires improvement to ensure Robotaxi operations can be safely undertaken, independent automotive research firm AMCI Testing said in a Tuesday statement.   

The European Central Bank (ECB) governing council member Klaas Knot said on Tuesday that the central bank is likely to continue to cut interest rates at least through the first half of 2025, to a level between 2% and 3%, per Reuters.

Some top coins of Solana, Bitcoin, and even Ethereum are edging higher. However, while holders are barely up double digits over the past week, a meme coin trader on Solana is swimming in profits at spot rates.

Expectations for the Dogecoin price remain high as a crypto analyst has predicted a rally to a new all-time high for the meme coin.

China’s bumper stimulus package has supported emerging market FX, reviving the carry trade. 

Polymarket, a decentralized prediction market platform, is reportedly seeking to secure $50 million in a new funding round and is considering launching its own token.

U.K. equities started mixed on Tuesday, with rises in Industrial Metals & Mining, Personal Goods, Life Insurance; and losses in General Industrials, Electricity, Food & Drug Retailers sectors.

USD/JPY is channeling higher in a short-term uptrend. 

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark.

Japanese manufacturing activity shrank more than expected in September as major automakers continued to grapple with production disruptions, while services activity picked up on strong consumer demand. 

The global digital asset investment market has significantly rebounded recently, marking a strong recovery for crypto-based funds. According to CoinShares, global crypto investment products brought in $321 million in net inflows last week.

Chinese stocks are primed for a rebound in the coming months, Gavekal Research said in a note, stating that they were undervalued after prolonged underperformance, and that Beijing was likely to unveil more stimulus measures.