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Cryptopotato
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Crypto Markets Bleed $150 Billion in 2 Days as Bitcoin (BTC) Slumps Toward $60K (Market Watch)
- Bitcoin (BTC) slumped toward $60,000, causing a cryptocurrency market bleed of $150 billion in 2 days.
- Altcoins like ETH, SOL, LINK, and AVAX also experienced significant price drops of 5-6%.
- BTC's market capitalization dropped to just under $1.2 trillion, while its dominance over the alts increased to 54.5%.
- The SEC's decision to appeal a court ruling in the Ripple lawsuit caused XRP's price to tumble by double digits.
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Blockonomi
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Crypto Market Update: Bitcoin Holds Steady as Altcoins Face Pressure
- Bitcoin remains stable above $61,100 despite geopolitical tensions.
- Significant whale accumulation of Bitcoin observed.
- Bitcoin ETFs see outflows while Ethereum ETFs experience inflows.
- XRP drops over 10% following SEC’s decision to appeal regulatory ruling.
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Newsbtc
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Crypto Market’s “Shallow Sell-Off” Indicative Of Strong Bid For Risk Assets: Trading Firm
- Crypto trading firm QCP Capital suggests that the shallow sell-off in crypto markets following Iran's attack on Israel indicates healthy market demand for risk-on assets.
- While traditional financial assets experienced a relatively muted sell-off, the digital assets market, including Bitcoin, was hit harder following the attack.
- QCP Capital notes that Bitcoin seems to have found strong support at the $60k level but warns of a potential drop to $55k if the Middle East situation escalates further.
- The report also mentions China's economic policy actions, drawing parallels to Japan's tactics in the 1990s, and suggests that liquidity from the PBoC and potential fiscal support could positively impact global assets, including crypto.
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TheNewsCrypto
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Will October Bring Gains for Bitcoin Based on Historical Trends?
- Bitcoin briefly surpassed $62,000 but quickly fell back, currently trading around $61,271.
- BTC has risen over 7% in September, a notable change from its usual average loss of about 6% for this month.
- Historical patterns suggest a bullish outlook for Bitcoin in October with an average gain of over 14% since 2018.
- Bitcoin must surpass the $63.5K zone to potentially climb back to $65,000 or even $70,000, validating the bullish sentiment for October.
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Bitcoinist
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Crypto Market Cap Shrinks By 6%, With Liquidations Surpassing $550 Million
- The crypto market cap is down by 6%, with more than $550 million worth of futures contracts liquidated amid escalating geopolitical tensions in the Middle East.
- The total crypto market cap has dropped to $2.24 trillion as tensions between Iran and Israel rise.
- In the past 24 hours, over $556 million worth of futures contracts were liquidated, with Bitcoin, Ethereum, and Solana seeing the highest liquidations.
- The majority of liquidations were long positions, indicating expectations of upward price movement in October.
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Coinpedia
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Investors Are Selling Bitcoin To Buy This Asset Amid Middle East Crisis
- Investors have been selling Bitcoin and buying gold amid the escalating political tension in the Middle East.
- The price of gold rallied by at least 1.1% following the attack, reaching $2,663.
- On the other hand, Bitcoin plummeted by 3.9% on the day of the attack, currently standing at $61,278.
- Investors are shifting towards safer assets due to the uncertainty surrounding the geopolitical situation.
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Newsbtc
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Dogecoin Crossover That Led To 90% & 180% Rallies Could Soon Form Again
- An analyst has pointed out a possible bullish MACD crossover for Dogecoin (DOGE) price.
- The Moving Average Convergence/Divergence (MACD) indicator, which tracks the difference between two Exponential Moving Averages (EMAs), shows a potential crossover.
- Previous instances of MACD crossovers led to rallies of 90% and 180% for DOGE price.
- DOGE active addresses have recently reached a six-month high, indicating increased trading activity on the network.
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Cryptonews
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CryptoQuant Says Weak Demand Could Cause Sluggish BTC Performance Despite ‘Uptober’
- Bitcoin's current trends mimic its successful years of 2016 and 2020, yet demand has stagnated since July.
- US spot ETFs, particularly BlackRock’s IBIT, drive demand by adding significant Bitcoin holdings.
- Despite substantial outflows from Grayscale’s GBTC, the US funds collectively hold over US$56 billion in Bitcoin.
- Analyst Willy Woo forecasts a delayed Bitcoin ATH, expecting sideways movement through late year but remains bullish long-term.
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Newsbtc
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Cardano (ADA) Struggles: Can Bulls Prevent Further Losses?
- Cardano (ADA) struggled to continue higher and started a fresh decline.
- ADA is consolidating losses above $0.3350 and trading below the 100-hourly SMA.
- There is a short-term bearish trend line with resistance at $0.3480.
- Immediate support is near $0.3400, while major resistance is at $0.3500 and $0.3600.
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Cryptonews
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On the Radar – Coins to Watch: SUI and SEI
- Bitcoin and other cryptocurrencies have had a rocky start to the new quarter.
- US jobs data to be released, which could impact future policy decisions.
- October historically shows positive performance for Bitcoin.
- Coins to watch: SUI and SEI.
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TronWeekly
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Tom Emmer’s Crypto Vision: What Lies Ahead for 2025 U.S. Regulation
- Tom Emmer, the House Majority Whip (R-MN), aims to push legislation that solidifies the future of cryptocurrency in America.
- Emmer believes that digital assets regulation is inevitable and cites growing bipartisan support as a driving force.
- Young voters, particularly those between 18 and 40, view cryptocurrency as a crucial issue and may vote with digital asset policies in mind.
- Emmer's priorities for crypto-friendly legislation include passing a market structure framework, outlawing a US Central Bank Digital Currency (CBDC), and enabling the creation of stablecoins backed by the US dollar.
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Cryptoslate
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Tron’s $566 million Q3 revenue surpasses Bitcoin, Ethereum and Solana
- Tron generated total revenue of $566 million in the third quarter, surpassing Bitcoin, Ethereum, and Solana.
- Tron's Q3 revenue showed a 43% increase compared to the previous quarter and a 113% year-on-year growth.
- Tron's revenue was more than 2x higher than Ethereum, 5x higher than Solana, and 9x greater than Bitcoin in the same period.
- Tron's revenue spike was driven by stablecoin activity and the growing memecoin sector on the network.
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Bitcoinist
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US Bitcoin Reserve Legislation Gains Bipartisan Support With Democrat’s Endorsement
- US lawmakers from both sides of the political spectrum are rallying around a proposal to create a strategic Bitcoin reserve for the US.
- Senator Cynthia Lummis introduced legislation to use existing federal funds to purchase one million BTC, positioning the United States as the largest nation-state holder of the cryptocurrency.
- Support for a strategic Bitcoin reserve is crossing party lines, with Democrat Representative Ro Khanna endorsing the idea.
- Khanna argues that Bitcoin held by the US government from confiscations should be retained as a strategic reserve, allowing the US to benefit from its value over time.
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Bitcoinist
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Bitcoin Whale Activity Hints At Upside: Big Players Bought 50,000 BTC In Just 10 Days
- Bitcoin whales have purchased over 50,000 BTC in the last 10 days, indicating growing confidence in the asset.
- The whale activity suggests robust underlying demand for BTC and a potential recovery on the horizon.
- Bitcoin is currently holding above a crucial support level at $60,100, which could pave the way for a price rally.
- BTC must reclaim the 1D 200 moving average at $63,600 to establish solid support and regain bullish momentum.
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Bitcoinist
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Iran’s Missile Strike On Israel Shakes Crypto Market, Prices Plummet
- Bitcoin fell more than 6% due to Iran's missile strike on Israel, which increased tensions in the Middle East.
- Investors shifted away from riskier assets like Bitcoin and sought safe havens in gold.
- Bitcoin's value dropped by about $3,800 in a few hours but later climbed back to around $61,500.
- Gold prices surged 1.2% as uncertainty-fearing investors sought safety.
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