🔴😞 Market Analysis — 2-11-0
As the latest Federal Reserve meeting sent tremors across global markets, Bitcoin faltered below key support levels, echoing Wall Street’s anxious mood. Jerome Powell’s cautious signal that future rate cuts aren't guaranteed swept through crypto, dragging Bitcoin to near $108,000 and igniting a cascade of liquidations that topped $800 million. The ripple effect hit altcoins hard — XRP and AAVE both plunged over 8%, technical floors shattering as traders, spooked by the uncertain macro landscape, rushed to reposition. Volatility is intensifying, with options expiry looming on October 31 and long-term holders offloading stacks, compressing Bitcoin’s range into a narrow $107,000–$108,000 band — a powder keg for a possible outsized move.
Looking ahead, the market remains tightly coiled. If Bitcoin fails to reclaim the $113,000 cost basis, Glassnode warns a retracement toward $88,000 is possible — a chilling echo of past bear runs. Yet, some see opportunity in chaos: as traders take losses, institutional buyers may quietly accumulate, tempting fate as liquidity returns and short positions stack up. The mood is brittle, but whispers of a turnaround persist, especially if macro jitters subside or ETF outflows reverse. For now, the crypto market is tiptoeing along the edge, waiting to see if fear or fortune will win the day.
- Fed’s caution triggers $800M in crypto liquidations
- Bitcoin hovers near $108K, facing increased volatility and options expiry
- XRP, AAVE, and Dogecoin see heavy losses as sentiment sours