The crypto market, a mirror to our souls, showed no signs of recovery on Tuesday. Bitcoin, that digital Prometheus, traded at $91,400, while Ether lingered around $3,060. The Fear and Greed Index, now a paltry 15/100, whispers of April’s ghosts, when Bitcoin defied the bears and soared to $100,000 from $76,000 in a month. Ah, the sweet madness of it all! 🦋💥
A Swiss bank (because of course) somehow managed to get a crypto license in Hong Kong. Congrats, you’re now the first international bank to offer “institutional-grade” crypto services. Groundbreaking stuff. Or is it? 🤡
But wait! Bitwise already stole the early lead with $450 million in BSOL. Grayscale’s slithering in too, because why not? 🐍 And now VanEck’s throwing a zero-fee bait-and-switch with VSOL-free for the first $1B, but don’t worry, you’ll pay later. Classic. 🤑💸
According to a filing with the Securities and Exchange Commission, released with the solemnity of a society announcement, Armistice Capital parted with nearly 2.2 million shares of Travere Therapeutics during the third quarter. The post-transaction holding, a modest 6.7 million shares, was valued at a tidy $160.7 million as of September 30. One might imagine the fund’s directors, in their opulent boardroom, murmuring about the need for a little diversification.
Yet, the market, that fickle and indifferent deity, remained unmoved. XRP, trapped in its narrow confines between $2.1637 and $2.1818, continued its monotonous dance, a routine as predictable as the rising and setting of the sun. The order books on Binance, those sacred tomes of supply and demand, showed no signs of distress or elation. It was but another day in the life of a currency that has grown accustomed to the chains of its own volatility. 📉📈
With an unfathomable market cap exceeding $58 billion, meme coins are not just a trend-they’re a movement. A movement fueled by whispers in dark corners of trading forums and a constant drumbeat from asset managers like JPMorgan. And let’s not forget the exchanges, who-surprise!-can’t get enough of this volatile circus. It’s rising like a tidal wave, and if you’re smart (or lucky) enough to catch it, well… you’re riding in style, my friend. 🏎️💨
So, Bitcoin’s gone and dragged the total crypto market cap down by nearly 10%. Oops! It’s now hanging around $3.1 trillion. Yikes! But don’t go crying just yet-global trading volume is up near $300 billion, though the market mood? Let’s just say it’s somewhere between “meh” and “oh no, not again”-we’re talking about extreme fear. As for the day’s big losers? Starknet, Zcash, and Decred. But hey, there’s a silver lining! The Internet Computer is on fire, surging more than 14.5%, followed closely by HYPE, ASTER, and XMR. These guys are having a good day while Bitcoin throws a tantrum! 🤷♂️
Balanced liquidations and some enthusiastic buyers set the stage for a potential breakout if DOGE can leap over that pesky $0.188 resistance.
The primary culprit, it seems, is the appalling state of market liquidity post-October 10. That little sell-off? Oh, it was a doozy, liquidating $20 billion in a blink. Altcoins, those poor dears, took a beating, with losses of 70% to 80%. Liquidity has been as scarce as a sense of humor at a tax audit, leaving prices to wobble like a tipsy debutante. Even the slightest sell-off now sends values plummeting faster than a forgotten celebrity’s career. 💸
Per QCP Capital, the next bit of support on the charts might be around $92k and $80k, but don’t get your bowler hat in a twist-these are just the lines the fellas are watching while sipping tea.