Bitcoin moved within the range of 29640-30799 during the day
Now the price of the main cryptocurrency is 30593
Market capitalization 1.16 trillion, dominance index 51.2%, fear index 55
Stock markets opened neutral. The dollar index is above 106, the 10-year bond yield is approaching 5%, Asian indices are falling, and S&P 500 futures are still slightly positive.
The main risk for the market is no longer the Fed rate increase, but the situation with an extreme increase in bond yields. This entails an increase in the cost of servicing public debt, a debt crisis, problems for banks and in the real estate sector. In addition, the situation is fraught with recession in the economy, while inflation remains high. As always, you will have to start the printer to resolve any problems that arise.
This week, the most important day for the markets will be October 24, 2023, when META, MSFT, GOOGL reports will be released. Then Amazon will report on 10/26.
Based on the results, we will see whether the S&P 500 will remain above 4200 or return to the levels at the beginning of the year.
The priority option for today is Bitcoin in the range with the lower limit at 29700-29800 and the upper limit at 30800-31000
Alternative - consolidation above 31000
The alts are coming to life, some are showing strong growth (LINK, which finally broke through 10, APT, which is up 25% lately, STX, with about the same result). But the high dominance index and the price of Ethereum, which is far behind Bitcoin, indicate that the real growth of alts is yet to come.
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