Markets
What to know:
- Bitcoin traders are optimistic-because nothing drives sanity like watching your money go up and down.
- Privacy-focused cryptocurrencies like Zcash and Monero are living their best lives-probably because they don’t have to check social media.
- Spot bitcoin ETFs are rolling in like they own the place, proving that bitcoin is the new digital hedge-fund darling, right along with gold.
Bitcoin traders remain cautiously optimistic about price rises in the upcoming weeks. Yes, just weeks after a profit-taking tantrum that knocked their precious cryptocurrency down to a sobering $120,000. Talk about a wake-up call. Ether, riding shotgun, decided to drop 2.4% overnight, erasing all gains from the last week-so much for momentum!
In a plot twist no one saw coming, the premier cryptocurrency briefly fell, pulling the broader market down like a ball and chain. SOL and ADA, feeling left out of the drama, also stumbled, losing up to 3%. Honestly, they should consider a support group for cryptocurrencies with trust issues.
The weak tone in BTC is like an awkward silence in a crowded room, especially when U.S.-listed spot ETFs just pulled in a whopping $2.72 billion this week. That’s right-Bitcoin is now like gold’s slightly less shiny sibling that still shows up at family gatherings.
It’s hard to ignore those numbers, but let’s be real: If you think the Federal Reserve is handing out loser’s cards after its September rate cut, think again.
Pauses are practically a tradition at this point. After a peek at $120,000 in July, Bitcoin gave us a classic case of ‘fake it ’til you make it’-sliding 9% in three weeks. August was even ruder, with a 14% backslide. Now that’s commitment!
FxPro’s Alex Kuptsikevich (seriously, could that name be more Russian?) predicts we might dip into $107,000-$115,000 territory before Halloween. Threatening us with financial doom? How spooky! 🎃
“Any attempts to dip below this range will send shockwaves through the markets,” he warns. No pressure, right? We’re all just watching our virtual fortunes dangle over the precipice.
That range has become the delicate dance between dip buyers (who are probably hanging out in their mom’s basement) and patient shorts. The derivatives market has eased up on seller pressure, but not so much that we’ll mistake it for a yoga retreat.
Looking ahead, ETF flows will be the litmus test for whether demand is as solid as grandma’s fruitcake or just a flash in the pan.
The macro landscape hasn’t changed much, with the U.S. government’s thrilling shutdown rolling into week two. Investors are left squinting into the data abyss. But hey, uncertainty? It’s like the universe’s welcome mat for gold and bitcoin. This week? Gold just decided to break up through that $4,000 barrier like it was running away from an ex!
For Bitcoin, that magic line remains around $125,000. Cross it, and it’s like hovering in a crowded bar-clear demand. But back off too fast, and we might be right back in the $115,000-$118,000 pit of despair, and good luck explaining that to your family.
Privacy shines
Privacy is back and stealing the spotlight like an uninvited guest at your dinner party-it’s up nearly 80% in a week and a staggering 400% since late summer. Is it getting too hot in here, or is it just my digital security settings?
Zcash and Monero are currently making the rounds, and so are lesser-known players like Railgun that rallied like they’re in some motivational seminar. Amid increasing buzz around Near’s privacy messaging tools and Ethereum’s upcoming research grants, one thing is clear: privacy options are fashionable again-so, apparently, is ditching your ex!
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2025-10-10 08:55