CryptMarket Analysis — 23-09-15
The past four hours saw significant turmoil in crypto markets. The SEC's approval of new crypto ETF listing standards has set the stage for a wave of new products, described as an 'ETPalooza,' but analysts caution this alone may not boost demand, especially amid heavy selling pressure. Bitcoin plunged below $112K, triggering $1.6 billion in liquidations and causing major tokens and crypto stocks to tumble in pre-market trading. Gold rallied sharply as safe-haven flows rotated away from crypto, highlighting fragile investor sentiment. Short-term outlook remains bearish as volatility spikes and risk appetite wanes ahead of Fed speeches and key inflation data.
Macro and regulatory developments remain the main forces steering markets, with ETF optimism outweighed by intense selling and portfolio rotation into metals. Investors are likely to remain cautious until signs of renewed stability or central bank clarity emerge.