Crypto Markets Drop Lower with Traders in Wait-and-See Mode
Crypto markets edged lower on Thursday as investors seemed to take a wait-and-see approach on macro updates.
Crypto markets shed 3.4% today, Oct. 9, with total market capitalization dropping below $4.2 trillion, as traders wait for fresh macroeconomic cues from U.S. data later this week.
Bitcoin (BTC) lost nearly 3% over the past 24 hours and is trading around $120,300, bringing its weekly gains to just 0.4%.
Ethereum (ETH) is down over 5%, slipping to near $4,300. Commenting on ETH’s price, Shawn Young, chief analyst of MEXC Research, told The Defiant that at current levels, renewed accumulation “is likely,” adding that if there’s momentum to happen and liquidity tailwinds kick into the…
