$NEAR took the hardest hit, falling by more than 10%. With market liquidity so thin, even a small wave of sell orders can create a deep dip, and liquidations of long positions accelerated the decline further.
$DOGE followed the broader market down, dropping 3% to 4%. It has no momentum of its own right now and is basically taking its cues from BTC.
$FIL did have one bright spot: its six-year vesting period ends on October 15, after which the issuance of new tokens will be sharply reduced (some say by 75%). It rallied against the trend for a few days after the news came out. But given the broader market conditions, it still faces pullback pressure after the gains.
Market sentiment is fragile right now, and the chain reaction from leveraged liquidations is severe, so I wouldn’t recommend rushing to buy the dip. The key thing to watch next is the US CPI data on October 15, which will likely determine whether we see a rebound or a further decline.
#BTC #NEAR #FIL
$DOGE followed the broader market down, dropping 3% to 4%. It has no momentum of its own right now and is basically taking its cues from BTC.
$FIL did have one bright spot: its six-year vesting period ends on October 15, after which the issuance of new tokens will be sharply reduced (some say by 75%). It rallied against the trend for a few days after the news came out. But given the broader market conditions, it still faces pullback pressure after the gains.
Market sentiment is fragile right now, and the chain reaction from leveraged liquidations is severe, so I wouldn’t recommend rushing to buy the dip. The key thing to watch next is the US CPI data on October 15, which will likely determine whether we see a rebound or a further decline.
#BTC #NEAR #FIL