Crypto markets remained weak on Oct. 3. Bitcoin (BTC) pulled back from a 24-hour high of $85,430, touched a low of $83,888, and then recovered slightly to trade at $84,616, down about 0.95% over the past day. Ether (ETH) also moved lower, falling from $2,719 to $2,679, a decline of about 1.46%.
Total liquidations across the crypto derivatives market reached $563 million, with more than 109,000 traders liquidated. At the same time, the Crypto Fear and Greed Index fell to 67, still in the Greed zone, down 5 points from the previous day.
$563 million in liquidations over 24 hours
According to CoinGlass, total liquidations in the past 24 hours came to $563 million. Long positions accounted for $326 million, while short positions made up $236 million. The number of liquidated traders was about 109,000.
The largest single liquidation order took place on Binance in the BTC/USDT trading pair, with a value of $11.72 million. The report said liquidation pressure on-chain also increased after Ether lost the $2,700 range, triggering liquidation thresholds across multiple DeFi protocols.
U.S. stocks rise as S&P 500 and Nasdaq set records
In macro markets, U.S. stocks broadly moved higher on Friday, Oct. 2. The S&P 500 closed at a record high, helped by chip stocks including Broadcom. The Nasdaq also set a fresh record and posted its third straight weekly gain, while Nasdaq 100 futures were up 0.7% before the open.
Even so, the Dow Jones Industrial Average and the S&P 500 still posted weekly declines. The report said the main reason was that the U.S. September nonfarm payrolls report came in below expectations, with job growth lower than economists had forecast. That eased concerns about an overheated labor market and rising inflation, and slightly lifted expectations for a Federal Reserve rate cut.
Major tokens also trade lower
Beyond Bitcoin, other major cryptocurrencies also faced selling pressure. SOL fell from $120.26 to $119.22, down about 0.87% over 24 hours. XRP dropped from $1.5059 to $1.4866, a decline of 1.28%.
Over the past 14 days, SOL had approached $124.42 on the evening of Sept. 27, while XRP reached $1.64 on Sept. 23. Since the start of this week, however, overall momentum has weakened.
Technical levels keep BTC and ETH above key moving averages
From a technical perspective, Bitcoin closed its Oct. 2 UTC daily candle at $84,518. That left it above its 20-day simple moving average at $82,072 and its 50-day simple moving average at $78,144. The Bollinger Bands (20,2) midline stood at $82,072, with the close above the midline and below the upper band at $88,971. RSI14 was 63.0, placing BTC in a relatively strong zone.
MACD (12,26,9) showed a bearish alignment, and the histogram expanded from the previous day. Near-term resistance was identified at the 30-day high of $87,396 and the Bollinger upper band at $88,971. Support levels were the 20-day SMA at $82,072 and the 50-day SMA at $78,144.
Ether closed its Oct. 2 UTC daily candle at $2,669. It also remained above its 20-day SMA at $2,628 and 50-day SMA at $2,469. The Bollinger Bands midline was $2,628, and the close stayed above that level. RSI14 came in at 58.8, also in a relatively strong zone.
ETH's MACD also showed a bearish alignment with expanding momentum. Near-term resistance was marked at the 30-day high of $2,807 and the Bollinger upper band at $2,847. Support levels were the 20-day SMA at $2,628 and the 50-day SMA at $2,469.
Fear and Greed Index falls to 67
The Crypto Fear and Greed Index stood at 67 on Oct. 3, down 5 points from 72 a day earlier, extending its recent move lower from elevated greed readings. Over the past eight days, the index has ranged from 67 to 74.
The report said day-to-day moves in both crypto and traditional financial markets are still being driven by macroeconomic data. Employment figures, inflation expectations, and the rate outlook remain in focus, with attention now turning to the Federal Reserve's October rate meeting.