Good morning, everyone!
Overnight recap: BTC pulled back from near 78,900, dipping to around 76,700 intraday, and is now trading at about 77,200, down roughly 1.7% over 24 hours. ETH is around 2,260, down about 1.3%; SOL is around 92.4, down about 2.7%.
The total market cap has also contracted, while BTC dominance remains relatively high, suggesting investors would rather stick with comparatively resilient assets. After the Binance hack, withdrawals resumed in phases. According to the official figures, net outflows on the first day were about $3.6 billion; third-party data showed even larger outflows over 24 hours. The Fear and Greed Index is at 38, and sentiment remains fearful.
News:
1. Voting in the U.S. midterm elections takes place today, making short-term macroeconomic disruptions hard to avoid.
2. Brazil-based exchange Mercado Bitcoin was also hit by a security incident and suspended deposits and withdrawals, further heightening industry concerns about custody and hot and cold wallets.
3. Falling oil prices have failed to boost risk appetite, as the crypto market is still digesting concerns over whether funds are safe on exchanges.
Today's outlook:
$BTC First, watch whether BTC can hold around 76,000. A sustained hold would be needed before talking about a recovery. Resistance is around 78,000, then near yesterday's high of 78,800–79,000.
$ETH Watch the 2,200–2,230 range below; a break could bring the sentiment level near 2,150 into view. Resistance is at 2,300–2,320.
$SOL Watch support at 91–90.8, with resistance near yesterday's high of 95–96.
Volatility could increase before the election results are in. I recommend managing position sizes carefully.
Overnight recap: BTC pulled back from near 78,900, dipping to around 76,700 intraday, and is now trading at about 77,200, down roughly 1.7% over 24 hours. ETH is around 2,260, down about 1.3%; SOL is around 92.4, down about 2.7%.
The total market cap has also contracted, while BTC dominance remains relatively high, suggesting investors would rather stick with comparatively resilient assets. After the Binance hack, withdrawals resumed in phases. According to the official figures, net outflows on the first day were about $3.6 billion; third-party data showed even larger outflows over 24 hours. The Fear and Greed Index is at 38, and sentiment remains fearful.
News:
1. Voting in the U.S. midterm elections takes place today, making short-term macroeconomic disruptions hard to avoid.
2. Brazil-based exchange Mercado Bitcoin was also hit by a security incident and suspended deposits and withdrawals, further heightening industry concerns about custody and hot and cold wallets.
3. Falling oil prices have failed to boost risk appetite, as the crypto market is still digesting concerns over whether funds are safe on exchanges.
Today's outlook:
$BTC First, watch whether BTC can hold around 76,000. A sustained hold would be needed before talking about a recovery. Resistance is around 78,000, then near yesterday's high of 78,800–79,000.
$ETH Watch the 2,200–2,230 range below; a break could bring the sentiment level near 2,150 into view. Resistance is at 2,300–2,320.
$SOL Watch support at 91–90.8, with resistance near yesterday's high of 95–96.
Volatility could increase before the election results are in. I recommend managing position sizes carefully.