CandleFocus Bitcoin holds steady at $61K as whales buy despite geopolitical tension
2024-10-03
Author: Content Editor
Bitcoin (BTC) is holding steady above $61,100 despite geopolitical tensions, while Ethereum (ETH) dropped 4% to $2,390. The crypto market is affected by Iranian airstrikes on Israel, leading to a decrease in enthusiasm for risk assets. However, whale accumulation of Bitcoin suggests anticipation of a future bull run. The broader crypto market declined by over 3%, with Bitcoin ETFs experiencing outflows while Ethereum ETFs saw inflows. XRP faced a setback as the SEC appeals a court ruling restricting its ability to regulate crypto markets. MOG, a meme coin mentioned by Donald Trump, saw little price movement. Lido's token (LDO) and artificial intelligence tokens also experienced drops in value. Worldcoin, founded by OpenAI's Sam Altman, also dropped 4%. Overall, market sentiment remains cautious due to geopolitical events, regulatory developments, and sector-specific news in the crypto space.
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