  The latest moves in crypto markets, in context By the CoinDesk Markets Team Edited by Omkar Godbole, Senior Reporter October 4, 2021 Sponsored by  (Price data as of October 4 @ 11:00 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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– Omkar Godbole
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 OMG Rally Continues Even as Bitcoin Takes a Breather While bitcoin and the broader crypto market look to be taking a breather, OMG, the native token of scaling solution OMG Network, has reached a 3.5-year high of $18 on Coinbase.
The token has charted a six-fold rally since July 19. Analysts said OMG is benefitting from surging investor interest in so-called layer 2 or “L2″ scaling projects that facilitate faster and cheaper transactions and help reduce the load on Ethereum’s blockchain.  OMG token's daily price chart (Source: TradingView) OMG's continued rise amid lackluster action in bitcoin represents market maturity – a shift from the early days of purely sentiment-based trading led by bitcoin.  OMG's exchange balance hits there-year low (Source: Glassnode) OMG’s rally is accompanied by an exodus of coins from exchanges. A slide in exchange balance is widely taken to represent strong holding sentiment. Read the original story here:
Technician's Take by Damanick Dantes, CMT  Bitcoin Declines From $48K Resistance Bitcoin (BTC) has pulled back slightly from the $48,000 resistance as short-term indicators reached overbought levels over the weekend. The next level of support is seen around $45,000, which could stabilize the pullback.  Bitcoin's four-hour price chart with RSI (Source: 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:
Did Jerome Powell’s Comment on Crypto Regulation Send Bitcoin Price Higher? "First Mover" hosts dig into today's market actions: bitcoin is up more than 10% after Fed Chair Jerome Powell said the U.S. has no intention to ban cryptocurrencies. Ben Cruikshank, Head of Flourish, provides his analysis. The U.S. bipartisan infrastructure bill is delayed in the House of Representatives, but House Speaker Nancy Pelosi promises a vote today. House Financial Services Committee member Rep. Tom Emmer (R-Minn.) joins our discussion. Plus, Zero Hash is eyeing expansion into DeFi and NFTs after raising $35 million. Co-founder Edward Woodford provides more details.
A Message from CoinDesk  While the pandemic has stunted some industries, fintech development and adoption have accelerated. Join executives from across the financial and technology sectors at Accelerate Finance: Money in a Mobile World on Oct. 13 to understand what's next in tech and how consumer expectations are driving change. Register now.
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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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