A brutal plunge in the early hours! I could run myself ragged delivering takeout and still never keep up with the marketâs fall đ
Just after 1 a.m., the market suddenly plunged. No matter how many orders I delivered, I couldnât keep up with the speed of the coin prices dropping. If last Octoberâs black swan comes around again, Iâm turning my phone face down.
Interest rates were raised to 3.75%â4% in September, and most officials said there would be another hike before the end of the year. Expectations of tighter monetary policy grew, bulls trampled over one another, and a huge number of long positions were liquidated.
â $BTC : After several failed attempts to hold above 87,000, the price fell back to around 81,000 and traded in the 82,900 range during the morning session.
81,000 is a key hard support level in the short term. If it holds, the price may keep ranging; if it breaks, the 80,000 mark will be just around the corner.
â $ETH : The trend is even weaker. 2,400 is the current line of defense; if it breaks, the price could fall further. Its movement is closely tied to Bitcoin. If BTC canât hold steady, it will be hard for ETH to make a move of its own.
â $SOL : It fell 8% in a single day, dropping to around 106 and underperforming major coins. Spot ETFs have seen small outflows for three consecutive days. If support at 108 doesnât hold, it will most likely keep searching for a bottom. When Bitcoin wobbles, altcoins feel the pressure first.
Many people blame the entire decline on the news. But early bull markets are naturally volatileâthatâs how weak-handed holders get shaken out.
Donât rush to buy the dip for now. Wait for support to hold and for market sentiment to settle before considering a move.
#仄ć€Șććç Ž2500çŸć #SolanaèźĄćć°ćșćæ¶éŽçŒ©èł200æŻ«ç§ #æŻçčćžéć€äœżçšć°ćææ433äžæbtc #æŻçčćžè·ç Ž8.1äžçŸć
đŹDo you think the key support levels will hold?
Just after 1 a.m., the market suddenly plunged. No matter how many orders I delivered, I couldnât keep up with the speed of the coin prices dropping. If last Octoberâs black swan comes around again, Iâm turning my phone face down.
Interest rates were raised to 3.75%â4% in September, and most officials said there would be another hike before the end of the year. Expectations of tighter monetary policy grew, bulls trampled over one another, and a huge number of long positions were liquidated.
â $BTC : After several failed attempts to hold above 87,000, the price fell back to around 81,000 and traded in the 82,900 range during the morning session.
81,000 is a key hard support level in the short term. If it holds, the price may keep ranging; if it breaks, the 80,000 mark will be just around the corner.
â $ETH : The trend is even weaker. 2,400 is the current line of defense; if it breaks, the price could fall further. Its movement is closely tied to Bitcoin. If BTC canât hold steady, it will be hard for ETH to make a move of its own.
â $SOL : It fell 8% in a single day, dropping to around 106 and underperforming major coins. Spot ETFs have seen small outflows for three consecutive days. If support at 108 doesnât hold, it will most likely keep searching for a bottom. When Bitcoin wobbles, altcoins feel the pressure first.
Many people blame the entire decline on the news. But early bull markets are naturally volatileâthatâs how weak-handed holders get shaken out.
Donât rush to buy the dip for now. Wait for support to hold and for market sentiment to settle before considering a move.
#仄ć€Șććç Ž2500çŸć #SolanaèźĄćć°ćșćæ¶éŽçŒ©èł200æŻ«ç§ #æŻçčćžéć€äœżçšć°ćææ433äžæbtc #æŻçčćžè·ç Ž8.1äžçŸć
đŹDo you think the key support levels will hold?
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