CryptMarket Analysis — 28-09-18
The crypto market remains under heavy selling pressure, marked by a $300 billion wipeout in overall valuation, as both Bitcoin and Ethereum experienced sharp declines and large-scale liquidations. Macroeconomic headwinds intensified after revised US GDP data indicated stronger growth, dampening market hopes for imminent Fed rate cuts and sending Treasury yields higher. Meanwhile, regulatory scrutiny deepened as Wall Street regulators and the SEC flagged potential insider trading at crypto-treasury firms and major crypto deals. This risk-off environment is amplified by growing investor unease and a shift toward holding stablecoins and cash, with sentiment measured by the Crypto Fear and Greed Index approaching 'fear' territory.
Near-term outlook remains bearish as technical indicators point to oversold conditions and further downside risk, with institutional buyers retreating and speculative interest waning. Unless macro signals improve or regulatory concerns ease, crypto prices are likely to remain under pressure, with volatility persisting into the next trading sessions.