Crypto Market Trend
Date: October 3, 2024
Market Cap 24h Change: -1.96%
Reason:
The market has been down by -1.96% because of several interconnected factors:
- $272 million in market liquidations have occurred in a short period, showing significant volatility and uncertainty in the market.
- The outflow from Bitcoin ETFs, totaling $52.9 million, suggests reduced confidence among institutional investors in Bitcoin, which may be weighing on market sentiment overall.
- Altcoins are also under pressure, with a broad decline in their values, enhancing the cumulated downtrend in the crypto market.
- A significant focus on regulatory actions, such as the SEC's decision to appeal the XRP court ruling, signals ongoing legal uncertainties affecting investor sentiment.
Date: October 2, 2024
Market Cap 24h Change: -2.73%
Reason:
The market has been down by -2.73%, but the reason is not clear.
Date: October 1, 2024
Market Cap 24h Change: -5.83%
Reason:
The market has been down by -5.83% because of multiple factors:
- Crypto losses from hacks and scams surged to $750 million in Q3, pushing total losses for the year to over $1.9 billion, contributing to a negative sentiment in the market.
- Bitcoin’s spike in long positions may signal an imminent price correction, leading to further sell-offs.
- Gemini’s planned exit from the Canadian market is causing uncertainty among investors.
- Middle East tensions have caused a massive crypto market shakeup, resulting in $489 million in liquidations. Additionally, Bitcoin’s sharp price drop as 'Uptober' begins is contributing to the downturn.
Date: September 30, 2024
Market Cap 24h Change: -4.08%
Reason:
The market has been down by -4.08% because of several negative developments:
- Crypto lender Celsius is unstaking $470M in Ether ahead of repayments, contributing to doubts in the Ethereum market.
- TrustToken and TrueCoin SEC settlement, with the stablecoin entities admitting no fault or denial in the TUSD case, raising concerns about the transparency and security of stablecoins.
- The planned crypto token unlock of $3.46 billion in October, including $735 million in the first week, which is generating expectations of increased selling pressure in the market.
Date: September 29, 2024
Market Cap 24h Change: -0.91%
Reason:
The market has been down by -0.91%, but the reason is not clear.
Date: September 28, 2024
Market Cap 24h Change: -1.68%
Reason:
The market has been down by -1.68%, but the reason is not clear.
Date: September 27, 2024
Market Cap 24h Change: 0.50%
Reason:
The market has been up by 0.5% because of several positive developments:
- Spot Bitcoin ETFs recorded their best day since July with $365 million inflow, reflecting strong institutional interest (source).
- Bitcoin achieved its best September performance in history by climbing to $66,000, highlighting investor confidence (source).
- BlackRock's Bitcoin holdings increased to nearly $24 billion, underscoring major investment in the cryptocurrency from one of the largest asset managers (source).
Date: September 26, 2024
Market Cap 24h Change: 1.16%
Reason:
The market has been up by 1.16% because of several positive developments:
- Ethena Labs announced the introduction of UStb, a stablecoin backed by BlackRock’s on-chain assets, fueling confidence in new financial products.
- BlackRock’s Bitcoin ETF saw substantial net inflows amounting to $184.4 million, highlighting increased investor interest.
- Analysts anticipate a bullish movement in altcoins, triggered by Bitcoin’s recent performance hitting $64k.
- Approximately 84% of Bitcoin holders are currently in profit, which is a strong bullish signal.
- There is a growing speculation regarding the approval of a spot Bitcoin ETF in the near future, enhancing market optimism.
Date: September 25, 2024
Market Cap 24h Change: -2.16%
Reason:
The market has been down by -2.16%, but the reason is not clear.
Date: September 24, 2024
Market Cap 24h Change: -0.48%
Reason:
The market has been down by -0.48%, but the reason is not clear.
Follow Us
Newsletter
Join our newsletter to receive the latest updates, news and insights!
Rest assured, we won't spam your inbox!