#BTC #bnb #xrp #ETH
Why BTC, ETH, BNB, and XRP prices dropping today?
The crypto price on Monday moved lower as investors weighed Federal Reserve uncertainty, ETF withdrawals, and Middle East tensions. Bitcoin, Ethereum, bnb and $XRP continued to pressure, and the Fear and Greed Index fell to 43.
BTC, ETH, BNB, and XRP Prices Drop Ahead of FOMC Meeting
Bitcoin price traded near $80,250, down 0.51% over 24 hours, with its daily range stretching between $79,280 and $80,710. Ethereum price hovered around $2,324, with $2,293 offering a potential support reference and $2,355 marking the daily high.
BNB slipped 0.23% to $743.85, trading between $732.49 and $745.23 during the same period. XRP dropped 0.66 percent to about $1.30, with its low for the day touching $1.27.
The Federal Reserve is meeting Oct. 27-28, and traders give about a 90% chance of no rate change. That would leave the target range at 3.75% to 4.00%, though another hike would not be out of the question.
Bitcoin and Ethereum ETF Outflows Weaken Market Demand
On October 22, the spot Bitcoin ETFs, which include BlackRock’s IBIT, shed $635.6 million. Around $111 million in Ethereum funds were withdrawn in that session, roughly $75.45 million of which were via ETHA.
Long Liquidations Increase Pressure as Derivatives Trading Accelerates
The snapshot of the derivatives provided shows $181.43 million in liquidations; the reporting period was not independently verifiable. The total of long positions was $121.4 million while short liquidations totaled $60.03 million.
That indicates that most of the forced closures were taken by bulls, and if prices fall it could exacerbate the downward trend.
Daily trading volume rose 84.81% to $726.85 billion and open interest went up 2.16% to $341.55 billion.
High open interest coupled with low prices may signal more bearish interest, but by itself cannot confirm traders’ intent. The rise in turnover is also a sign of more activity, not more buyers coming back.#Write2Earn $BTC $ETH $BNB
Why BTC, ETH, BNB, and XRP prices dropping today?
The crypto price on Monday moved lower as investors weighed Federal Reserve uncertainty, ETF withdrawals, and Middle East tensions. Bitcoin, Ethereum, bnb and $XRP continued to pressure, and the Fear and Greed Index fell to 43.
BTC, ETH, BNB, and XRP Prices Drop Ahead of FOMC Meeting
Bitcoin price traded near $80,250, down 0.51% over 24 hours, with its daily range stretching between $79,280 and $80,710. Ethereum price hovered around $2,324, with $2,293 offering a potential support reference and $2,355 marking the daily high.
BNB slipped 0.23% to $743.85, trading between $732.49 and $745.23 during the same period. XRP dropped 0.66 percent to about $1.30, with its low for the day touching $1.27.
The Federal Reserve is meeting Oct. 27-28, and traders give about a 90% chance of no rate change. That would leave the target range at 3.75% to 4.00%, though another hike would not be out of the question.
Bitcoin and Ethereum ETF Outflows Weaken Market Demand
On October 22, the spot Bitcoin ETFs, which include BlackRock’s IBIT, shed $635.6 million. Around $111 million in Ethereum funds were withdrawn in that session, roughly $75.45 million of which were via ETHA.
Long Liquidations Increase Pressure as Derivatives Trading Accelerates
The snapshot of the derivatives provided shows $181.43 million in liquidations; the reporting period was not independently verifiable. The total of long positions was $121.4 million while short liquidations totaled $60.03 million.
That indicates that most of the forced closures were taken by bulls, and if prices fall it could exacerbate the downward trend.
Daily trading volume rose 84.81% to $726.85 billion and open interest went up 2.16% to $341.55 billion.
High open interest coupled with low prices may signal more bearish interest, but by itself cannot confirm traders’ intent. The rise in turnover is also a sign of more activity, not more buyers coming back.#Write2Earn $BTC $ETH $BNB
