The cryptocurrency market crosses a new black day. Bitcoin (BTC) moves in U $ s109,000 and quotes in minimums not seen since last August, with a daily drop of 1.3%. Similarly, Ethereum (eth) drills the US4,000 barrier and falls into the U $ 3,800with a daily drop of 3.1%.
The bleeding responds to a massive liquidation of positions, mainly bullish. According to data from Coinglassmore than US $ 1,100 million They were liquidated in the last hours, with more than US $ 1 billion corresponding to long positions in Bitcoin.
The rest of the main Altcoins accompany the bassist trend: Dogecoin falls 3.7%, XRP also 3.7%, Solana corrects 4.7%and BNB contracts 5.4%.
Signals of exhaustion
Glassnode analysts warned in their last report that The leading cryptocurrency shows “signs of exhaustion”. Long -term holders They began to take profits and the flows to the quoted funds (ETF) They slowed markedly.
“Unless the demand for institutions and Holders aligns again, the risk of deeper cooling is still high”the consultant warned. According to its data, the current bullish cycle extends for 1,030 days, a figure similar to the average of 1,060 days of the two previous Bull Markets.
The collapse practically erased all the profits of what had been the second best September in the history of Bitcoin. Historically, September is an adverse month for the crypto asset: 8 of the September 11 closed in red, while October is usually more favor
In the sight of the Fed
In the macroeconomic plane, This Friday the Personal Consumer Expenses Price (PCE) index will be known, a key indicator that uses the Federal Reserve to guide its monetary policy. The market anticipates a tenth up to 2.7%.
The data arrives at a time of tension for the Fed, which Face internal divisions between those who drive new rate cuts and those who opposeadded to Donald Trump’s pressure so that the Central Bank is aligned with its demands.
In this sense, Jerome Powellpresident of the institution, did not specify in his latest interventions if they will continue with the decline of fees, which contributed doubts both in the traditional and crypto market.
Source: Ambito
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