🔴😞 CryptMarket Analysis — 18-10-21
The crypto market has been gripped by fresh turbulence in the last few hours as Bitcoin plunged further, wiping out $600 billion in total market capitalization and stoking panic among investors. The selloff, ignited by ETF outflows and a sudden shift in risk appetite, has not spared even the stalwarts: major miners like Bitfarms and Hive tumbled following news of a $500 million offering and rating upgrades, amplifying volatility. Meanwhile, whispers from Washington grow louder, with Federal Reserve chair Jerome Powell hinting at a decisive policy shift—potentially a $6.6 trillion 'price flip'—that could upend asset flows across crypto and traditional markets alike.
With the psychological floor for Bitcoin now eroding and Ethereum bobbing in choppy waters, traders are recalibrating their strategies. Macro uncertainties—credit concerns, Federal Reserve policy pivots, and regulatory headlines—loom large, threatening to disrupt the fragile equilibrium. Yet, as crypto moves cyclically, some brave contrarians are viewing this storm as fertile ground for accumulation. The days ahead may be steered by high drama: will digital assets find their footing, or is the current selloff just the prologue to deeper declines?
- Bitcoin’s sudden price drop erases $600B across crypto markets
- Fed signals possible end to quantitative tightening—major cross-asset implications
- Miners and ETFs join the rout, deepening turbulence and uncertainty