The crypto market is awash in red this morning—not a surprise 😐. BTC has retreated to $81,361.97, down 3.47% in just 24 hours, even though spot Bitcoin ETFs have recorded $1.07 billion in inflows over the past three sessions. Ethereum is no better, with ETH down 3.41% to $2,392.31. Notably, Ethereum ETFs are seeing record net outflows of $1.08 billion this October, wiping out all of September’s gains.
Market breadth is dire, with only 6% of the top 100 coins staying in the green and total 24-hour volume reaching $4.5 billion. GTC stands out, rising 28.98% against the broader trend, while $ALT plunged as much as 38.75%, perhaps due to widespread stop-loss selling.
With September CPI coming in higher than expected at 3.7% and the FOMC meeting just around the corner next week (October 27–28), the market is firmly in defensive mode. Keeping portfolio exposure low or focusing on assets with independent sources of inflows seems like a sensible strategy right now.
Anyone still managing to hold on to gains in this market? Feel free to share 😏.
#Write2Earn #CryptoAnalysis #TradingStrategy
Market breadth is dire, with only 6% of the top 100 coins staying in the green and total 24-hour volume reaching $4.5 billion. GTC stands out, rising 28.98% against the broader trend, while $ALT plunged as much as 38.75%, perhaps due to widespread stop-loss selling.
With September CPI coming in higher than expected at 3.7% and the FOMC meeting just around the corner next week (October 27–28), the market is firmly in defensive mode. Keeping portfolio exposure low or focusing on assets with independent sources of inflows seems like a sensible strategy right now.
Anyone still managing to hold on to gains in this market? Feel free to share 😏.
#Write2Earn #CryptoAnalysis #TradingStrategy