CandleFocus

Bitcoin Wavers at $62K Amid Major Swings in Stocks, Gold; Memecoins Falter as Profit-Taking Sets In

Cryptocurrencies, including Bitcoin and Ethereum, remained stable and did not react significantly to large moves in traditional assets on Tuesday. Bitcoin hovered above $62,000, with minor fluctuations, while Ethereum remained relatively flat. However, meme coins experienced a sell-off as traders took profits. Despite U.S. stocks rallying, gold, crude oil, and silver experienced declines. Some experts believe that the lack of attention on crypto may be due to other global macro narratives taking precedence. Crypto investors who expected a bullish October have been disappointed so far. Traders anticipate that Bitcoin is consolidating below its all-time high and building momentum for higher prices next year.

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