/ Crypto Weekly

Crypto Execs on the Run, Influencers Are Fined, and 500 Millon Dollar Hack but All Isn’t Bad!

As Q3 wrapped up, the gears are turning in the crypto space as governments started cracking their whips and crypto Twitter began a witch hunt on questionable influencers!

At a glance...




  • Kim Kardashian in trouble with the SEC 💁‍♀️
  • Do Kwon is the real “Catch Me If You Can” 🏃💨
  • Russia and Crypto drama are heating up again 🔥
  • Bitcoin is not moving 🐌


Top Market Trends:

  • Ethereum (ETH) outperformed the Nasdaq, gold, and bonds in Q3 2022.
  • The European Union gave its final approval to yet another round of sanctions on Russia - this time it bans cross-border payments from Russian crypto accounts.
  • SEC fines superstar influencer Kim Kardashian with a $1.26 million price tag after failing to disclose that she was paid $250,000 to promote EMAX, an obscure crypto offered by EthereumMax.
  • MakerDAO starts their $500 million investment into traditional assets in order to strengthen the project's balance sheet with exposure to low-risk asset such as treasury and corporate bonds.

Movers and Shakers

Top 7-day Gainers:

  1. CSPR +22.22%
  2. EGLD +14.31%
  3. RSR +12.77%
  4. CVX +12.62%
  5. MKR +12.04%

Top 7-day Losers:

  1. LEO -11.63%
  2. CHZ -8.09%
  3. MIOTA -6.64%
  4. LDO -5.61%
  5. HT -5.15%

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Technical Summary

Bitcoin Pulse
The world is watching as Bitcoin (BTC) just confirmed a daily candle above a nearly year long down trend, but the trading community is undecided. Is this really a break out or a fake out?

  • Bulls are targeting $22K - $23K as the next area of resistance.
  • Bears are claiming a bearish flag pattern that will result in a intermediate target zone of $19.3k - $18.9k.
  • Bitcoin has been hovering around the $20k price for the last 48 hours. According to the latest weekly report from Arcane Research, BTC’s volatility has reached significantly low levels - these levels usually are succeeded by significant surges.

1-Hour BTC/USD

As we go into the weekend, we can see the price has stalled around the $20,000 region which is to be expected given we reclaimed last week's High of the week.

"Oh no, it’s a bear!"

Next week, we could see an early week bearish move into the discount of the range before bullish momentum takes over or bulls fail to take hold and bear crash price through the $18,000 level.

1-Day BTC/USD

BTC has been within its weekly range since the 31st of May - the price has tested discount prices for bearish moves and has been in a bearish move since.

Bull in a china shop!

Now that we've reached discount prices for potential bullish movement, the price has been within a consolidation as it pulls in liquidity from both buyers and sellers ready for the next move, either we break the weekly range low and continue bearish to 2020 prices, or we make our next bullish move up into the $22,000-$26,000 price range.

Altcoins on the Move

Ethereum (ETH) outperformed the NASDAQ, gold and bonds in Q3 2022. The ETH/USD price saw a break above a major bearish trend line with resistance near $1,355 on the hourly chart. If Ethereum fails to climb above the $1,400 resistance, it could start a downside correction.

  • Binance bridge hit by $570 million crypto hack, enabling hackers to move BNB tokens off the network - BNB saw a 4% price drop.
  • EGLD holders get a win with a 7D 15% gain as Elrond’s latest development shows their push of creating the “New Internet” with a deal featuring Opera!
  • Crypto Twitter claims that Terra Classic will soon explode since Binance completes a 5.5B burn of LUNC - LUNC is down 2.22% on the 7D.

1-Day ETH/USD

After the market downturn of May 2022 from $2165 to $880 - the price steadily recovered to the breakeven point of those traders who had shorted the market.

ETH eyeing an extreme test

Since then we've seen price reach back down to the discount of this range and retesting the important level of $1281 where bulls entered the market, a potential orderflow is now on the cards for a bullish move to test the $2000 range, if the bears are still in waiting, then we could see an extreme test of the entire range to below $1000.

Newsworthy:

  • Coinbase is helping reduce fees for Ethereum Layer 2 Rollups by supporting EIP-4844.
  • Twitter user ZachXBT investigates YouTuber and crypto influencer Lark Davis for “promoting low-cap projects to his audience just to dump on them shortly after.”
  • US job openings fell more than expected in August, the 1.2 million decline is the biggest since April 2020 - as the darkening economic outlook continues.
  • South Korean authorities started the process of canceling the passport of Terraform Labs founder Do Kwon.
  • Russia continues its hate-love relationship with crypto by blocking access to Crypto Exchange OKX.

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Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.

Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.