🚨 Crypto’s “fuel” is drying up: digital dollars fell by 6.6 BILLION in just 2 months 👀
Wall Street is bouncing back today, but Bitcoin isn’t following, and here’s why.
▪️ Bitcoin (~73,800): USDT, the digital dollar used to buy crypto, lost around $6.6B in 60 days—the biggest drop since 2022 and more than double the decline after FTX collapsed. Every rally in this cycle was fueled by new digital dollars; without them, buyers are in short supply. The good news: ETF outflows fell from $430M to $95M by the end of trading yesterday, Tuesday.
▪️ Ethereum (~2,050): over the past 24 hours, more bullish bets on ETH were liquidated than on Bitcoin, even though its market is half the size. That’s money flowing out, not just fear. 2,000 is the wall: if it breaks, the next floor is around 1,970.
▪️ AVAX (~8.50): the New York Stock Exchange will use Avalanche technology on its own private network to settle tokenized stocks. A major credibility boost, but the market is now asking how much of that will benefit the token. Holding 8.40 is key; losing it opens the door to 7.80.
With the market putting the odds of the Fed raising rates in December at ~90%, new money is waiting.
Are dollars coming back to crypto, or is it still not the right time? 👇
#Bitcoin #ETH #AVAX
Wall Street is bouncing back today, but Bitcoin isn’t following, and here’s why.
▪️ Bitcoin (~73,800): USDT, the digital dollar used to buy crypto, lost around $6.6B in 60 days—the biggest drop since 2022 and more than double the decline after FTX collapsed. Every rally in this cycle was fueled by new digital dollars; without them, buyers are in short supply. The good news: ETF outflows fell from $430M to $95M by the end of trading yesterday, Tuesday.
▪️ Ethereum (~2,050): over the past 24 hours, more bullish bets on ETH were liquidated than on Bitcoin, even though its market is half the size. That’s money flowing out, not just fear. 2,000 is the wall: if it breaks, the next floor is around 1,970.
▪️ AVAX (~8.50): the New York Stock Exchange will use Avalanche technology on its own private network to settle tokenized stocks. A major credibility boost, but the market is now asking how much of that will benefit the token. Holding 8.40 is key; losing it opens the door to 7.80.
With the market putting the odds of the Fed raising rates in December at ~90%, new money is waiting.
Are dollars coming back to crypto, or is it still not the right time? 👇
#Bitcoin #ETH #AVAX
