Cryptocurrency investors had high hopes for October, but the first week did not happen in crypto. Poppe and some cryptocurrency analysts He expressed his opinion that the rise would start as of the second week of October. Alright cryptocurrency What is the latest situation in the markets?
Bitcoin (BTC)
Falling below $60,000 after 15 days BTC It returned to $62,000 again. After $62,500 held as support at the end of September, it was the level that opened the door to the $67,000 region. Although $ 62,370 has not been exceeded for now, BTC aims for this. Volumes are weak and altcoins are down around 2-3% due to weakness in overall market sentiment.
The king cryptocurrency, which jumped from $ 47,300 and rose to $ 73,777 in the week of February 12, 2024, has been oscillating between $ 50,400 and $ 73,777 for exactly 231 days. Although it peaked at $50,000 at the beginning of August, the price generally fluctuated between $57,800 and $65,000.
Such dull periods should result in upward breaks, especially when we reach the threshold of bull markets like the one we are in. The rise should now begin for BTC, which has not been able to even test $ 70,000 since the end of July. Both interest rate cuts and the upcoming US elections support the excitement of a historical rise.
Cryptocurrencies Latest Status
The total 24-hour transaction volume decreased to 36.5 billion dollars. BTC dominance still remains strong at 56.8% according to CMC data. The fear and greed index is on the verge of neutral level at 41. The week’s losers in altcoins saw declines of more than 20 percent. Among the top 100 cryptocurrencies, NOT, ENA and FLOKI melted over 20%. ENA Coin dropped 7% in the last 24 hours alone.
It was the winner of the week among altcoins FTT Token happened. FTX rose 65 percent in the week amid rumors that hundreds of millions of dollars of FTT Token held by the bankruptcy committee would not be sold due to lack of liquid assets. However, since it will not be sold to someone on the exchange and there will be no use of FTT Token, investors’ interest in this altcoin in the long term resembles gambling.
POPCAT and W were the other two cryptocurrencies that experienced the highest increase. Solana, on the other hand, continues to remain below $150 despite a volume of nearly $1 billion.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
