Bitcoin, Ethereum, XRP, Dogecoin Fall As 'Fear' Sentiment Persists: Analyst Says BTC Will Be In 'Good Territory' For New High In November If... - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
Leading cryptocurrencies dive while stock futures rose on Sunday, in the wake of the U.S.-China trade truce.
BTC, ETH End October Down
Bitcoin continued to oscillate between $109,500 and $111,000, while trading volume surged 50% in the last 24 hours.
Ethereum bulls faced to push the second-largest cryptocurrency above $4,000, even as volume spiked 38%.
The two assets capped October on a weaker note, with Bitcoin down 3.69% and Ethereum down 7%. The apex cryptocurrency ended the month in the red for the first time since 2019.
Over $170 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with long positions accounting for the majority.
Bitcoin's open interest fell 0.42% in the last 24 hours. Meanwhile, over 65% of Binance traders with open BTC positions were long as of this writing.
"Fear" sentiment continued to dominate the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Dash (DASH) | +26.98% | $91.51 |
| Aster (ASTER)
| +25.06% | $1.20 |
| Internet Computer (ICP) | +20.96% | $4.12 |
The global cryptocurrency market capitalization stood at $3.69 trillion, shrinking by 0.49% in the last 24 hours.
Stocks Futures Rally
Stock futures edged higher overnight Sunday. The Dow Jones Industrial Average Futures rose 135 points, or 0.28%, as of 7:48 p.m. EDT. Futures tied to the S&P 500 gained 0.34%, while Nasdaq 100 Futures added 0.42%.
The market is coming off a healthy October, with the S&P 500 and the tech-focused Nasdaq Composite gaining 1.65% and 4.26%, respectively.
The U.S. and China agreed to a trade deal last week following President Donald Trump’s meeting with Chinese leader Xi Jinping in South Korea. Markets and analysts, however, treated the outcome as a tactical truce rather than a strategic reset, noting frictions over technology and industrial policy.
Brutal Reversal Incoming For BTC?
Widely followed cryptocurrency analyst and trader Ali Martinez spotted a broadening top pattern on Bitcoin’s chart, a bearish formation indicated by diverging trend lines and increasing price volatility.
"If this is indeed a broadening top, we could see a new all-time high first, followed by a brutal reversal," the analyst predicted. "Bitcoin might not be done yet!"
Michaël van de Poppe said that Bitcoin needs to break above $112,000 to be in "good territory" to target a new all-time high in November.
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