First, a look at the market:

$BTC 80,913.3 (-0.86%)

$ETH 2381.74 (-0.88%)

BNB 739.8 (+0.51%)

SOL 102.57 (-1.65%)

Some pressure, but it’s too early to call a trend reversal.

What people are discussing on the Square:

#比特币算力创七个月新高 #以太坊Hoodi测试网Glamsterdam硬分叉推迟

Sentiment and capital flows:

Fear and Greed Index: 51 (neutral), up 1 from yesterday

BTC network-wide account long/short ratio: 2.15, with longs at 68.3%

News:

1. South Korea’s leading exchange announces the listing of AXIS (KRW market)

2. Bitcoin remains range-bound as the market focuses on the Fed decision, Strategy’s earnings report, and the U.S. midterm elections

3. Chinese national extradited to the U.S. over alleged involvement in a crypto scam targeting Americans, with more than $36.9 million in funds involved

Biggest gainers and losers:

Top gainers: IRYS +302.19%, BIRB +189.66%, IN +55.94%

Top decliners: JCT -40.63%, MAGMA -24.25%, Q -20.09%

My take:

Until volume picks up, treat every breakout with a healthy dose of skepticism.

What do you think of today's market? Share your thoughts in the comments.