Cryptocurrency market capitalization has fallen significantly over the past 24 hours, with nearly $500 million of bullish bets against cryptocurrencies liquidated. Bitcoin traders who bet on the high lost more than $122 million, while Ethereum bets lost nearly $100 million, the highest loss since July, according to data from Coinglass.
Meanwhile, as the market continues to witness disruptions due to geopolitical pressures, investors are eagerly migrating to Cutushi, a new DeFi project on its way to revolutionizing the meme coin market. The project’s impressive multi-chain DEX exchange is rated as one of the best on the market, and experts predict significant growth for the CUTO token.
Cutushi – A new Ethereum meme coin making waves across the market
Recent market turmoil has seen investors shift to popular upcoming projects with great potential. Cutushi is a project inspired by traditional Chinese lucky cats and the teachings of Satoshi Nakamoto.
People used to place beckoning cats in their homes to harness the power of good luck. Cutushi aims to bring that to the blockchain. In addition to Nakamoto’s original vision for blockchain technology: decentralization, privacy, and financial freedom, Kutoshi is building a community where investors are empowered to make decisions.
The team focuses on decentralization and wealth creation, while putting security, anonymity, and privacy at the center of everything they do. To achieve that goal, the Cutushi ecosystem is packed with amazing tools and features. Among them, there are also plenty of multi-chain DEX exchanges that allow cross-chain trading.
Another notable feature is Kutoshi farming, where investors are rewarded for participating in quests. There’s also Cutshi Academy where you can learn more about projects and cryptography. In the ongoing pre-sale, CUTO will sell for $0.015. With supply limited to 440 million yen and supported by a deflationary mechanism, analysts expect a 40x rise in the near future.
Bitcoin price falls amid rising political tensions
Bitcoin, the popular cryptocurrency, has fallen over the past 24 hours. The decline is in response to a massive outflow of $242.53 million from Bitcoin ETFs on October 1, according to SosoValue data. Bitcoin CoinMarketCap data shows a decline of just 3% on the weekly price chart as the coin faces a bearish trend.
According to Tradingview technical analysis, Bitcoin market sentiment is neutral, with the Fear and Greed index reading 42 (Fear). Bitcoin, which failed to break above the major resistance trend line at $65,000 over the past few days, has seen its value struggle to maintain the $61,000 support zone. However, BTC is still trading above its 50-day SMA and Coincodex predicts it will rise to $86,000 soon.
According to Ali Martinez of X, traders are taking advantage of the drop to buy more BTC on Binance, with more than 60% going long on Bitcoin. Market data shows that Bitcoin whales have purchased more than 50,000 BTC worth about $3.15 billion in the past week, with analysts predicting significant growth in the coming weeks. Signs of a comeback could see Bitcoin price reach $70,000 in October.
Which coins are worth investing in in October?
October seemed like a promising start, but it’s already starting to change direction as Bitcoin’s price struggles to take control. With BTC price facing a big battle at the $65,000 level, Cutushi could be a good option. The new project is already attracting attention, with experts predicting a significant rally ahead of its listing.
For more information on the CUTO presale, please visit the CUTO website.
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