Crypto 8/10:
#BTC sideways around 84–86k—should we be FOMOing yet?
A fairly "quiet" start to the month
The market is slightly in the green. BTC is up 1.88% over the past 24 hours to around $86,400, up nearly 3.8% for the week and more than 8.5% for the month. The main reason is that expectations of a Fed rate hike in October have cooled following weaker-than-expected U.S. jobs data, and the USD has also weakened. Cheaper money makes it easier for capital to flow into risk assets like crypto.
Bitcoin: moving sideways in a range
BTC is moving sideways in a range of around $83,500–$86,600, with the moving averages below providing support. Whether it goes up or down this month depends on which way price breaks out of this range.
The positives:
• BTC broke above $84,000 on October 2, gaining 43% in Q3 thanks to the SEC’s new custody rules and institutional inflows.
• "Uptober" has some basis: BTC has been in the green in 6 of the last 8 Octobers.
• A daily close above ~$86,600 would make an extended rally more likely.
• A break below ~$83,500 means we should be cautious; price could retest lower levels.
Ethereum: lagging behind its big brother
ETH is moving considerably slower than BTC. It’s trading around $2,690–$2,730, with the nearest resistance at $2,775–$2,800, while ETH ETF flows are still net negative. It needs to break above $2,800 on strong volume to look convincing; otherwise, it could easily get pushed back down.
Altcoins: not every coin is taking off
BNB is up 1.69% to nearly $797, Zcash is up more than 2%, and Bittensor is the only one among the large-cap group to post a slight decline. Money is being selective—not every altcoin is going up.
In the short term, I’m leaning neutral, with a slight positive bias. BTC is stronger than ETH, and the two levels to watch are $83,500 and $86,600. This is just my personal view, not investment advice. Do your own research and manage your capital carefully, folks. Love you.
See you in the next post!
#TeiNguyen #Write2Earn #BTC