Even tho the spot BTC ETFs raked in over 500 million yesterday the underlying asset got rejected hard at 83,000 and slipped by almost 2 grand since then. 🖤
BTC Slides Once More 🔻
The main crypto reacted super badly to last week’s CPI and PPI data since both numbers showed US inflation is still clinging on. On Wednesday and Thursday the releases came in hotter than expected and BTC dove from 84,000 straight down to a monthly low under 80,000.
It bounced from that low and climbed back over 82,000 by the weekend close but lost steam fast and had a quick flash crash Saturday night dropping below 81,000 before snapping back up.
People were hyped for a total Black Monday vibe on Sunday but it never hit. BTC touched 80,600 that evening yet jumped right to 83,000 on Monday. A big chunk of those gains probably came from the massive ETF inflows that hit over 526 million the highest single day since September 22.
Still the coin could not keep climbing and has dropped nearly 2,000 since then now fighting to stay above 81,000. Its market cap sits back at 1,630 trillion while dominance over the alts hovers just above 60 percent on CMC.
Most altcoins tagged along with big losses led by BTW which crashed over 30 percent plus RAIN and NEAR taking hits too. 📉
BTW Crashes Hard 💀
BTW’s wild recent swings flipped hard this time. After a few green days straight it wiped every bit of gain with a 33.5 percent nosedive in the last 24 hours pushing it toward 1.50. RAIN dropped over 10 percent to 0.0082 while NEAR slipped 7 percent and now sits at 4.7.
ETH fell over 2 percent sitting below the key 2,400 level. XRP dipped back under 1.30 after a 1.6 percent daily drop. SOL ZEC HYPE DOGE LINK and ADA all moved red too while XMR climbed above 610 on another 3.6 percent gain.
The total crypto market cap fell over 1.3 percent in a day landing back at 2.720 trillion on CMC. ✨
Just another echo from the void by iconofsin.eth 💖
