CryptMarket Analysis — 29-09-18
Over the past four hours, the crypto market has continued its risk-off trend, highlighted by a $300 billion market wipeout and a 5% decline in the CoinDesk 20 Index, as investors brace for the upcoming U.S. PCE inflation data. Regulatory scrutiny also intensified, with Wall Street regulators and U.S. agencies examining suspicious trading and potential insider activity ahead of corporate crypto treasury announcements – a move likely to weigh further on sentiment and volatility. Meanwhile, Deutsche Bank's bold prediction that bitcoin could soon hold parity with gold on the Federal Reserve's balance sheet underscores growing institutional interest, but this optimism clashes with heavy selling across bitcoin, ether, and altcoins.
Overall, short-term sentiment remains cautious, with traders watching for macro signals and regulatory developments to determine market direction. Technicals signal fear, but possible policy pivots and ETF inflows could offer support. Expect continued volatility as macro uncertainty and regulatory action drive near-term market moves.