Blum Crypto ($BLUM) has officially commenced its pre-market listing on the crypto exchange Gate.io, providing traders an early opportunity to engage with the token before its public launch.
The pre-minting process started on Oct. 16, 2024, at 2:00 p.m. UTC, allowing users to stake USDT to mint Blum Pre-Tokens. Pre-market Pre-Token spot trading subsequently began at midnight on Oct. 17.
This initiative allows users to stake USDT to mint Blum Pre-Tokens, facilitating early trading activity.
The pre-market listing is designed to attract investors who are interested in capitalizing on potential price movements before the token becomes more widely available. Gate.io users can benefit from minting opportunities, which enable them to create Blum tokens through USDT staking.
As the pre-market trading is now live, participants can trade the minted tokens on the $BLUM/USDT market. This trading phase often presents unique opportunities due to the volatility typically observed in the initial stages of a token's market presence.
Early investors may acquire tokens at lower prices, which can be advantageous as prices stabilize post-launch.
For Indonesian traders, this pre-market engagement offers a chance to monitor trades closely and refine their strategies in response to rapid price fluctuations. The announcement from Gate.io contains further details regarding the listing and trading process for interested users.
In addition to trading opportunities, the pre-market listing is expected to generate interest among the broader crypto community, particularly those looking to maximize profits through strategic staking and trading practices.
For comprehensive information, users are encouraged to consult the official Gate.io announcement regarding Blum’s pre-market listing.
This initiative marks a significant step for Blum Crypto as it prepares for its official market debut.

QCP Capital’s latest market update highlights the influence of the upcoming U.S. elections on financial markets, with a particular focus on cryptocurrencies like bitcoin (BTC). Analysts predict increased volatility as the elections near, with potential outcomes shaping investor sentiment and price movements.
QCP Analysts Link U.S. Elections to Crypto Market Movements
QCP Capital‘s analysts observe that the U.S. elections are now driving market dynamics, with just two weeks to go. Betting markets are showing a significant lead for Donald Trump over Kamala Harris, which has fueled discussions around new economic policies. The market update notes that a possible Trump presidency could lead to increased tariffs and tax reductions, contributing to a rally in the U.S. dollar and pushing U.S. bond yields higher.
QCP’s market analysis states:

The QCP update further emphasizes the importance of upcoming U.S. economic data, particularly the Non-Farm Payrolls (NFP) report, which will be released next Friday. As the last labor market report before the Federal Reserve’s next meeting, QCP’s analysts believe it could shape expectations on future interest rate decisions, adding to market uncertainty and potential shifts in asset prices.
“All eyes are on the NFP release next Friday as uncertainty around the labor market persists,” QCP said. “As the last NFP report before the next Fed meeting, it will play a critical role in shaping expectations for the Fed’s next move on interest rates.”

The cryptocurrency market is experiencing a downturn, closely mirroring the decline in the stock market. On Wednesday, Bitcoin saw a significant drop of over 2.5% in the past 24 hours, with its price hovering around $65,000. This decline has dashed hopes of breaking the $70,000 threshold, which had gained traction just a week prior. The downward trajectory underscores the growing volatility in the crypto market and highlights the interconnectedness between cryptocurrencies and traditional financial markets.

The decline in Bitcoin can be attributed to mounting pressure on technology stocks, particularly Tesla (TSLA-2.01%), which is set to release its latest earnings after the closing bell. Analysts anticipate that Tesla will report earnings per share of 60 cents, a decrease from 66 cents a year ago, although the figure marks an improvement from 52 cents in the previous quarter, according to estimates from FactSet (FDS-0.28%). Revenue is projected to hit $25.4 billion, compared to $23.3 billion in the third quarter of 2023 and $25.5 billion in the preceding quarter.

Meanwhile, the yield on the benchmark 10-year U.S. Treasury note has continued its upward climb, reaching 4.23%—a level not seen since July. Higher bond yields traditionally create downward pressure on equity valuations. When Treasury yields rise, it suggests that investors are increasingly concerned about the economic outlook, leading them to favor safer investments like bonds over stocks.
Other significant cryptocurrencies have also faced losses. Ether, the second-largest cryptocurrency by market capitalization, has experienced a decline of over 3% in the last 24 hours, currently trading around $2,500. Cardano fell by more than 3.5%, Avalanche dropped by over 4.5%, and the popular meme coin Shiba Inu decreased by approximately 3%.
Overall, the global cryptocurrency market capitalization has contracted by 2%, now standing at $2.2 trillion, according to data from CoinMarketCap.

Candlestick charts originated from Japanese rice trading and have become a staple tool for traders globally. The patterns formed by the candlesticks help predict future price action based on historical patterns.
1. Bullish Reversal Patterns
These indicate a potential change from a downtrend to an uptrend:
Hammer: Small body with a long lower shadow; signals a bullish reversal after a downtrend.
Bullish Engulfing: A larger green candlestick fully engulfs a prior red candlestick.
Piercing Line: A gap down followed by a green candle closing above the midpoint of the previous red candle.
Morning Star: A three-candle pattern with a large red candle, a small body, and a large green candle signaling reversal.
Three White Soldiers: Three consecutive green candlesticks with rising prices.
2. Bearish Reversal Patterns
These signal the possibility of a reversal from an uptrend to a downtrend:
Shooting Star: A small body with a long upper shadow; indicates a bearish reversal.
Bearish Engulfing: A red candlestick completely engulfs a prior green candle.
Dark Cloud Cover: A green candle followed by a red one that closes below the midpoint of the green.
Evening Star: The opposite of the Morning Star, indicating the start of a downtrend.
Three Black Crows: Three consecutive red candlesticks with falling prices.
3. Continuation Patterns
These patterns suggest the current trend will continue:
Rising Three Methods: Three small red candlesticks within the range of two large green candles, signaling the uptrend will continue.
Falling Three Methods: The opposite, signaling the continuation of a downtrend.
Data Points from Candlestick Patterns:
Hammer/ Inverted Hammer: When these appear after a downtrend, they signal a bullish reversal. Traders may look for confirmation with a green candlestick after the hammer.
Doji: Represents indecision in the market, where the open and close prices are nearly identical. It can indicate a reversal if seen after a long trend.
Engulfing Patterns: Large shifts in sentiment, with the new candle overpowering the previous one.
Three White Soldiers/Black Crows: Indicate strong continuation in trend direction, whether bullish (soldiers) or bearish (crows).
Importance for Traders
Candlestick patterns, when combined with other technical indicators (e.g., RSI, MACD), can provide a stronger trading signal.
Timing Entry/Exit: Recognizing patterns like the Morning Star or Evening Star helps traders enter or exit at key market points.
Risk Management: Patterns like Doji and Engulfing serve as early warning signals of market indecision or possible reversal, which helps in setting stop-losses effectively.
In conclusion, candlestick patterns provide traders with actionable insights into market sentiment. By understanding and using these patterns, traders can better anticipate future price movements and make informed decisions on buying, selling, or holding assets.