  The latest moves in crypto markets, in context By the CoinDesk Markets Team Edited by Bradley Keoun September 21, 2021 Sponsored by  (Price data as of September 21 @ 11:30 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
Good morning, and welcome to First Mover. Here's what's happening this morning:
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Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers:
Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
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Market Moves by Omkar Godbole Bitcoin Bounces Off 6-Week Low, Tracking Recovery in Stocks Bitcoin continues to take cues from equity markets amid macro uncertainty, seeming to contradict the popular narrative of the cryptocurrency being a safe haven like gold.
The cryptocurrency has bounced to $43,000 from the 1-1/2-month low of $40,200 reached early today, with futures tied to the S&P 500 signaling a risk reset with a 1% gain. Major European stock indices are also trading higher alongside weakness in the safe-haven U.S. dollar despite lingering concerns about China’s property market and its contagion risk for the global economy.
Fears that cash-strapped Chinese property giant Evergrande would default on its interest payments rocked global markets on Monday, sending bitcoin, S&P 500, and growth-sensitive risk assets lower. Evergrande’s Chairman Xu Jiayin sent a letter to 125,000 employees on Monday, saying the company would soon “walk out of the darkness.” The company’s real test lies ahead as $83.5 million interest payment is due on Thursday, and another $47.5 million payment is due on Sept. 29. A default could bring another round of panic selling in risk assets.  The 200-day moving average at $45,813 may offer resistance ahead of the Sept. 18 high of $48,825. (CoinDesk/TradingView) Some experts are worried that an impending drawdown in fiscal spending would lead to an economic slowdown in the coming quarters and weigh over risk assets. According to the Wall Street Journal, the U.S. government could run out of cash and hit the debt ceiling between mid-October and mid-November. On Sunday, U.S. Treasury Secretary Janet Yellen renewed a call for raising the debt ceiling, warning that a failure to do so may trigger a historical financial crisis.
However, for now, the market focus seems to have shifted to the two-day Federal Reserve (Fed) scheduled to begin later today.
According to some observers, the central bank may refrain from announcing the withdrawal of asset purchases or early rate hikes, given the possibility of a messy spillover of China’s property market woes into the global economy. Read the original story here:
Technician's Take by Damanick Dantes, CMT 
Bitcoin Holds $40K Support; Initial Resistance at $47K Bitcoin (BTC) is stabilizing as buyers defended support around the $40,000-$42,000 breakout range. The cryptocurrency is oversold on intraday charts, which could encourage further upside towards the $47,000 resistance level.
BTC was trading around $43,000 at press time and is roughly flat over the past 24 hours.
Bitcoin four-hour price chart shows the cryptocurrency dipping into oversold levels. (TradingView, CoinDesk) Read the original story here:
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BOLO Be on the lookout for the following events today:
ICYMI In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV:
China’s Evergrande Default Risk Could Have Ripple Effect in Crypto Markets "First Mover" speaks on Chinese real estate developer Evergrande's default risk and its impact on the crypto markets with Matthew Sigel, Head of Digital Assets Research at ETF and mutual fund manager VanEck, and Paul Brody, Principal & Global Innovation Leader at Ernst and Young, shares his insights into Ernst & Young's collaboration with Polygon on Ethereum scaling. Plus, Abraham Sutherland, former deputy associate counsel during the George W. Bush administration and energy developer Saker Group director, provides insights into crypto regulations.
A Message from CoinDesk  Financial advisors are taking a cautious approach to bitcoin as client interest in the space increases and new products offer retail investors easier access to this new asset class. As trusted guides, advisors cannot risk falling behind, even if the jury is still out on bitcoin's role in a client's portfolio. At Bitcoin for Advisors 2021on Oct. 6, Michael Kitces and Tyrone Ross share insights from the front lines. Apply today.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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