Merlin welcomes Online Trading Academy instructor Vishal Subandh to the show for an update on what is happening in the Indian Markets. Vishal shares with viewers several trade setups for the Nifty, Bank Nifty and the USDINR. The topic also looks at other strong & weak sectors in India as well as a great look at market correlation.
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Ripple and Stellar remain under pressure, with both altcoins correcting slightly. XRP nears the key $1.00 support zone on Thursday, while XLM trades below critical technical levels. Mixed derivatives and on-chain metrics suggest cautious sentiment, leaving both tokens vulnerable to further downside while offering hope for a potential recovery.
Bitcoin is trading around $63,000 after three consecutive days of losses. The US Consumer Price Index for July met market expectations of 3.4% the previous day, resulting in a mild rebound in BTC above $64,000, but it was lost later in the day, leading to a bearish close. Virtuals Protocol and OKB have emerged as top performers over the last 24 hours.
Bitcoin is showing signs of growing market exhaustion, with weakening liquidity and subdued demand leaving the market vulnerable to a sharp move, according to a Glassnode report on Wednesday. The firm stated that Bitcoin is trading between two important cost-basis levels as market activity has fallen to its lowest point since 2019.
