What Does Bitcoin (BTC) Price Decline Signify for Broader Markets?: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise)
Eric Trump was right when he reportedly said on Sept. 27 that the fourth quarter would be unbelievable for crypto holders. It has been so far … just not the way bulls would have hoped.
Bitcoin has plunged 28% to $82,000, with a drop of over 5% in the past 24 hours alone. Total crypto market capitalization has shrunk 27% to $2.8 trillion.
Regular readers of the Daybook are well aware of the catalysts: the Oct. 10 auto-deleveraging event that rattled market confidence, leaving arbitrageurs as marginal sellers in the spot market; the exhaustion of the digital-asset treasury narrative; a strengthening dollar; diminishing expectations for interest-rate cuts in the…
