FxWirePro- Major Crypto levels and bias summary 
Bitcoin Cracks $75K as $1.3B ETF Exodus and Middle East Jitters Spook Bulls; Bears Eye $70K 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Wall Street Analysts Weigh in on Latest NFP Data 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Ether Breaks Below $2,100: Triple EMA “Sell-the-Rally” Setup Targets $1,900 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Short covering: Initiated shorts in BTCV2019 (CME BTC Futures October deliveries) at $8,380 on October 1st, (marked at 6.58% or $552). Hedging positions should remain intact.
The rationale: CME BTC Futures price chart shows a sharp gap down pattern, whereas the underlying price of Bitcoin (at Coinbase) is inching above $7,878 level after this weekends’ halting at $7,762 levels. The September’s lows were also at this juncture ($7,712.45 to be precise).
At the beginning of this week, amid a phenomenon of gap filling between BTCV2019 and BTCUSD (the underlying spot price), we could foresee some support zone at $7,451 - $7,704 zone. And so is the demand for the CME futures book may be generated by the some mild rally in the BTC spot market, occurring during CME’s closing hours.
While volumes of futures contracts are most likely to nullify and fill these gaps on the back of above event.
And hence, potential short covering rallies are foreseen and we also wish to unwind our above positions for profit booking about 6.58% for now.
