The market flashed green when I checked the screens this morning. BTC is holding at $83,423.34 (+2.45%) after signs of an October bottom. ETH is also strong, up 3.57% to $2,509.29. 24-hour trading volume across the top 100 reached $4,123,591,166, which is fairly modest.
Market breadth is positive: 78% of the top 100 coins are in the green. $GNS leads with a gain of +111.05%, while BAT is also impressive at +27.72%, suggesting capital is rotating into small-cap altcoins. On the other hand, GTC fell 17.67%, and Blur lost 14.32% overnight.
The macro backdrop has eased, with the odds of a Fed rate hike in October now at just 18%. However, U.S. Treasury yields and geopolitical uncertainty remain wild cards. Ethereum ETFs are seeing persistent outflows in particular: $85.4 million was withdrawn on October 12 alone, extending the streak to nine consecutive sessions of net outflows. ETH is still under pressure.
Today, watch to see whether BTC can hold its current level and how capital rotates. Will altcoins keep soaring, or will profits flow back to the market leaders? For ETH, the key question is whether ETF outflows will finally stop.
GNS surged more than 100% overnight—anyone manage to take early profits on this one? 🤓
Market breadth is positive: 78% of the top 100 coins are in the green. $GNS leads with a gain of +111.05%, while BAT is also impressive at +27.72%, suggesting capital is rotating into small-cap altcoins. On the other hand, GTC fell 17.67%, and Blur lost 14.32% overnight.
The macro backdrop has eased, with the odds of a Fed rate hike in October now at just 18%. However, U.S. Treasury yields and geopolitical uncertainty remain wild cards. Ethereum ETFs are seeing persistent outflows in particular: $85.4 million was withdrawn on October 12 alone, extending the streak to nine consecutive sessions of net outflows. ETH is still under pressure.
Today, watch to see whether BTC can hold its current level and how capital rotates. Will altcoins keep soaring, or will profits flow back to the market leaders? For ETH, the key question is whether ETF outflows will finally stop.
GNS surged more than 100% overnight—anyone manage to take early profits on this one? 🤓