Last Friday, the market trembled like a leaf in a storm, and this Friday, it continues its dance with the abyss. Behold the chart, a grim mural of despair, where BTC’s price wavers like a drunkard’s step. 🌊
October started as a farce and turned into a tragedy. Bitcoin, that digital Prometheus, soared to $126,000, only to be cast down by the gods of liquidity and leverage. Glassnode, those modern-day soothsayers, noted that Bitcoin “broke through the $114k-$117k supply zone,” a triumph as fleeting as a Russian summer. ☀️❄️
The Bitcoin exodus amounted to a rather regrettable $366.59 million. BlackRock’s IBIT, predictably, bore the brunt of it at a dizzying $268.61 million. One wonders if their analysts are currently being subjected to a bracing lecture. Fidelity’s FBTC and Grayscale’s GBTC also contributed to the melancholy, shedding $67.37 million and $25.04 million respectively. Valkyrie BRRR, bless their modest hearts, managed only a paltry $5.57 million. Not a single ETF showed an inclination to gain anything. The trading volume, however, reached a somewhat frantic $8.20 billion, suggesting a considerable amount of panicked activity. Total assets are, at $143.93 billion, a perfectly respectable 6.75% of the Bitcoin market cap – though whether that’s cause for celebration or lament is a matter for philosophers. 🤔
Lordy, that 20% drop was a sight to behold! Plummeted like a rock, it did. But then ZEC found itself restin’ right on top of some fancy Fibonacci support at $201.68. The RSI, that fella, dipped all the way down to 37, which means it was cheaper’n a used mule. But wouldn’t you know it, folks started pickin’ it up ’round the 38.2% retracement (fancy talk for a good buyin’ opportunity), sendin’ ZEC climbin’ a respectable 7.16% in just one day! Now it’s holdin’ steady around $216.15, with a market cap of $3.52 billion. It’s like watchin’ a cat with nine lives, I tell ya. 😹
The whisper of another Fed rate cut floated across like a prevailing wind, painting broad strokes of opportunity on the canvas of market uncertainty. Three altcoins, quietly cradled in the arms of these giants, were seeing an influx-a sort of secret meeting, if rumors of whispers were to be believed.
Apparently, some very important people (we’re talking ‘large holders’, naturally) decided to offload $74 million worth of the stuff. Probably to fund their collection of vintage rubber ducks. A perfectly reasonable investment, one might argue. And all this happened while everyone was busy panicking about tariffs. Honestly, it’s like the world is actively trying to make less sense.
Well, another day, another billion-dollar mint of USDT on the Ethereum network. $991.9 million, to be precise. As if printing money solves anything, doesn\’t it? 🧐 Analyst Maartunn, a fellow observer of this curious spectacle, informs us this occurs while both Ethereum and Bitcoin are… well, let\’s just say politely, experiencing a bit of a wobble.
Good heavens! The Bitcoin Coinbase Premium has turned…red! A most unsettling color, wouldn’t you agree? As BTC dipped below the rather impressive sum of $104,000, naturally. 🙄
If the divine hand deigned to reveal a closer cousin to the entangled legacy of the Russian duel than to the orderly clockwork of the modern mortgage, it would surely be the United States Senate’s latest foray into the cryptic cosmos. Lawmakers, with all the urgency of scribes in the Age of Empires, labor to discern the proper frame of governance for those elusive, electrified tokens that dance across screens at the whim of algorithms. The Senate Banking Committee, in its infinite wisdom, now weighs a framework that may yet determine whether the sovereign child of the blockchain shall be shepherded or shunned by the twin titans of the SEC and CFTC-a fracas that has left even the most ardent Wall Street enthusiasts scratching their heads in bewilderment. 🐀
Crypto analyst BagCalls on X has pointed out that Solana’s memecoin mania and Degen energy culture define the project. This is where SolsticeFi steps in, building a native stablecoin and yield infrastructure. It’s like the financial version of a superhero cape, but with more yield farming. 🦸♂️🧙♂️
