Crypto has been on a real roller coaster this week—what a ride.
Bitcoin is now hovering around $82,450, barely up 1% over the past 24 hours, but down nearly 3% for the week. It hit a high of $87,000 on Sunday, then fell for several days in a row, bringing its rally to an abrupt halt. Ethereum fared even worse: a 1.3% bounce on the day did little to help, with losses of 7% for the week.
Why the drop? Three big headwinds are weighing on the market: rising energy prices, persistent interest-rate worries, and a potential hardware wallet security issue. Ledger is investigating reports of customer funds going missing. The devices involved were reportedly purchased from a third-party distributor in Southeast Asia, and $86 million is said to have been lost—but that has not been confirmed. The news has added to market jitters. $LUMIA $STRK $ETH #以太坊ETF连续9日净流出 #STRK24小时上涨约20% #btc走勢
Oil prices are adding to the pressure, too. Trump announced a deal with Putin to supply Russian diesel, and November heating oil futures immediately fell 1.6% to $4.66 per gallon. The yield on 10-year U.S. Treasury bonds is hovering around 5.25%, and rose two basis points on the day.
The flow of funds is even more painful. Spot Bitcoin ETFs saw $681.1 million in outflows last week, ending a three-week streak of inflows. Ethereum ETFs saw even bigger outflows of $542.1 million, marking nine consecutive trading days of withdrawals. BlackRock's ETHA alone accounted for nearly 88% of them. Solana ETFs also saw $24.8 million in outflows, ending a 14-week streak of inflows. Across all three categories, about $1.25 billion left in a single week.
Everyone is now waiting for next week's CPI and PPI inflation reports. The data will have a direct bearing on whether the Fed holds rates steady at the end of October or raises them again in December. Once the inflation figures come out, Treasury yields, the dollar, and Bitcoin could all be in for a big shake-up.
Do you think Bitcoin's latest move is a correction or the start of a bear market? With Ethereum ETFs bleeding this much, is it time to buy the dip or get out fast? Share your thoughts in the comments.
Bitcoin is now hovering around $82,450, barely up 1% over the past 24 hours, but down nearly 3% for the week. It hit a high of $87,000 on Sunday, then fell for several days in a row, bringing its rally to an abrupt halt. Ethereum fared even worse: a 1.3% bounce on the day did little to help, with losses of 7% for the week.
Why the drop? Three big headwinds are weighing on the market: rising energy prices, persistent interest-rate worries, and a potential hardware wallet security issue. Ledger is investigating reports of customer funds going missing. The devices involved were reportedly purchased from a third-party distributor in Southeast Asia, and $86 million is said to have been lost—but that has not been confirmed. The news has added to market jitters. $LUMIA $STRK $ETH #以太坊ETF连续9日净流出 #STRK24小时上涨约20% #btc走勢
Oil prices are adding to the pressure, too. Trump announced a deal with Putin to supply Russian diesel, and November heating oil futures immediately fell 1.6% to $4.66 per gallon. The yield on 10-year U.S. Treasury bonds is hovering around 5.25%, and rose two basis points on the day.
The flow of funds is even more painful. Spot Bitcoin ETFs saw $681.1 million in outflows last week, ending a three-week streak of inflows. Ethereum ETFs saw even bigger outflows of $542.1 million, marking nine consecutive trading days of withdrawals. BlackRock's ETHA alone accounted for nearly 88% of them. Solana ETFs also saw $24.8 million in outflows, ending a 14-week streak of inflows. Across all three categories, about $1.25 billion left in a single week.
Everyone is now waiting for next week's CPI and PPI inflation reports. The data will have a direct bearing on whether the Fed holds rates steady at the end of October or raises them again in December. Once the inflation figures come out, Treasury yields, the dollar, and Bitcoin could all be in for a big shake-up.
Do you think Bitcoin's latest move is a correction or the start of a bear market? With Ethereum ETFs bleeding this much, is it time to buy the dip or get out fast? Share your thoughts in the comments.