The crypto evening news roundup hasn’t arrived yet, so I wrote this myself.
As for the market during the day, $BTC crashed below 80,000 over the weekend, then climbed back above 80,000 and has been hovering there. People in the crypto community are still arguing over whether this is a breather or if it’s going to search for a lower bottom. The liquidation wave from the weekend into the day was pretty intense: longs got washed out in a big way, and a lot of leverage was cleared. Next week, all eyes are on the 10/28 FOMC meeting—that hasn’t changed.
Things have been lively around the on-chain Lookonchain crowd: some are still dumping ENA, while a whale is adding margin to hold on to a $ETH long position. Meanwhile, the number of stablecoin-holding addresses at $SOL has passed the 14 million mark, and the narrative is still that people are “actually using it.” Some are watching for capital to flow back into ZEC. It isn’t moving in sync with BTC, so don’t chase it too aggressively.
For reference only, not investment advice.
As for the market during the day, $BTC crashed below 80,000 over the weekend, then climbed back above 80,000 and has been hovering there. People in the crypto community are still arguing over whether this is a breather or if it’s going to search for a lower bottom. The liquidation wave from the weekend into the day was pretty intense: longs got washed out in a big way, and a lot of leverage was cleared. Next week, all eyes are on the 10/28 FOMC meeting—that hasn’t changed.
Things have been lively around the on-chain Lookonchain crowd: some are still dumping ENA, while a whale is adding margin to hold on to a $ETH long position. Meanwhile, the number of stablecoin-holding addresses at $SOL has passed the 14 million mark, and the narrative is still that people are “actually using it.” Some are watching for capital to flow back into ZEC. It isn’t moving in sync with BTC, so don’t chase it too aggressively.
For reference only, not investment advice.