Crypto markets remained in a narrow trading range on the morning of Oct. 7. Bitcoin hovered near $85,500, Ether held at $2,696, and the four major tokens covered in the report all posted mild losses over the past 24 hours.
Bitcoin and Ether stay in range
Bitcoin (BTC) was quoted at $85,540, trading between $85,136 and $86,699 over 24 hours, with a daily decline of 0.42%. Ether (ETH) fell 0.79% to $2,696, with a 24-hour range of $2,683 to $2,725.
The article said both assets were sitting near their relative lows since late September. Bitcoin’s 14-day peak was $87,158 on 09-23, while Ether’s 14-day high was $2,779 on 09-23. Both highs came around last month’s FOMC rate decision.
$139 million liquidated across the market in 24 hours
According to CoinGlass, total liquidations in the crypto derivatives market reached $139 million over the past 24 hours. Long positions accounted for $82.91 million, while short positions made up $56.58 million. A total of 59,335 traders were liquidated.
The largest single liquidation took place on Hyperliquid, where one XYZ:SP500-USD contract was liquidated for $5.8 million.
SOL and XRP also edge lower
Solana (SOL) traded at $120.58, down 0.40% over 24 hours, with a range of $118.88 to $122.00. The report described SOL’s 14-day move as relatively stable, with a peak of $124.42 on 09-27 and a low of $113.10 on 09-24.
XRP changed hands at $1.4971, marking the largest decline among the four major tokens in the report. It fell 0.85% over 24 hours and traded between $1.4907 and $1.524.
Technical readings keep BTC and ETH above mid-band levels
Using the Oct. 6 UTC daily close as the reference point, Bitcoin closed at $85,550, with RSI14 at 63.4. Its closing price stood above the SMA20 at $83,858, the SMA50 at $79,925 and the SMA200 at $71,693. It also remained above the Bollinger Bands midline at $83,858.
The article said Bitcoin’s MACD was in bearish alignment, and the histogram had widened from the previous day, showing stronger momentum. Resistance was placed at the 30-day high of $87,396 and the Bollinger upper band at $88,524. Support was identified at the SMA20 level of $83,858 and the SMA50 level of $79,925.
Ether closed at $2,697, with RSI14 at 59.7. Its closing price was above the SMA20 at $2,678, the SMA50 at $2,534 and the SMA200 at $2,125, and it also held above the Bollinger midline at $2,678. Its MACD was also in bearish alignment with stronger momentum. Resistance was listed at the Bollinger upper band of $2,806, while support was placed at the SMA20 level of $2,678 and the Bollinger lower band at $2,550.
Fear & Greed Index slips to 71
The Crypto Fear & Greed Index published by alternative.me came in at 71 on Oct. 7, still in the “Greed” zone and down 2 points from 73 a day earlier.
Over the past eight days, the index has ranged from 65 to 74. It has eased from 74 on Oct. 1 to 71, indicating that market sentiment remains greedy but has cooled from recent highs, according to the report.