☀️ 10.21 Crypto Morning Brief
$BTC 83139 was up nearly 2% over 24 hours, after churning between 81,200 and 83,439 yesterday. $ETH gained 2.3% to $2,455. The Fear & Greed Index climbed to 63—“Greed” is back. Sentiment can turn around fast.
U.S. spot BTC ETFs saw their biggest single-day net inflow in a month on Monday, at $527 million. All of it went into BlackRock’s IBIT, which took in $665 million on its own. The curious part: ETFs for $ETH saw net outflows of $103 million over the same period, marking a fourth straight day of outflows. This money is flowing into BTC, not signaling confidence in the market as a whole.
Meanwhile, Brent crude climbed above $111 a barrel, bringing inflation back into the conversation. This rally is largely a “rates story”: Treasury yields fell, and crypto prices stabilized along with them. Leveraged longs were just flushed out last week, and there aren’t enough new buyers yet to make the rally particularly solid.
The market is also quite divided: 38 of the TOP 50 were up, with a median gain of 2.2%, but TON plunged 24% in a day, while privacy coins $ZEC jumped 11.6%. IOST surged 31.8%, while AVA fell 20%—a real battle of the titans.
Tonight, the EIA inventory report will show whether oil prices have more room to run. U.S. initial jobless claims are due Thursday, followed by the Fed’s rate decision next Wednesday. October opened near 83,592; historically, the month averages a 13% gain. Sentiment is back, but the shadow of high oil prices hasn’t lifted yet.
$BTC 83139 was up nearly 2% over 24 hours, after churning between 81,200 and 83,439 yesterday. $ETH gained 2.3% to $2,455. The Fear & Greed Index climbed to 63—“Greed” is back. Sentiment can turn around fast.
U.S. spot BTC ETFs saw their biggest single-day net inflow in a month on Monday, at $527 million. All of it went into BlackRock’s IBIT, which took in $665 million on its own. The curious part: ETFs for $ETH saw net outflows of $103 million over the same period, marking a fourth straight day of outflows. This money is flowing into BTC, not signaling confidence in the market as a whole.
Meanwhile, Brent crude climbed above $111 a barrel, bringing inflation back into the conversation. This rally is largely a “rates story”: Treasury yields fell, and crypto prices stabilized along with them. Leveraged longs were just flushed out last week, and there aren’t enough new buyers yet to make the rally particularly solid.
The market is also quite divided: 38 of the TOP 50 were up, with a median gain of 2.2%, but TON plunged 24% in a day, while privacy coins $ZEC jumped 11.6%. IOST surged 31.8%, while AVA fell 20%—a real battle of the titans.
Tonight, the EIA inventory report will show whether oil prices have more room to run. U.S. initial jobless claims are due Thursday, followed by the Fed’s rate decision next Wednesday. October opened near 83,592; historically, the month averages a 13% gain. Sentiment is back, but the shadow of high oil prices hasn’t lifted yet.