Bitcoin fell 2.46% in the past 24 hours to $83,419, after briefly dropping to $82,787, while Ether slid 4.39% to $2,577 and lost the $2,600 level. SOL declined 3.35% to $116.5 and XRP dropped 4.86% to $1.4243, leaving major cryptocurrencies broadly lower.
CoinGlass data showed total liquidations across the crypto derivatives market reached $712 million over the same period. Long liquidations accounted for $651 million, while short liquidations came to $61.08 million. In total, 123,500 traders were liquidated. The largest single liquidation order took place on Binance in the ETHUSDC pair and was valued at $26.64 million.
Higher Treasury yields weigh on risk assets
On the macro side, the yield on the 30-year U.S. Treasury rose to its highest level since 2002, while U.S. equities pulled back from record highs. The S&P 500 closed at 7,818.93, down 0.22%. The Dow Jones closed at 51,521.28, and the Nasdaq Composite ended at 27,599.89. The report said rising bond yields reduced room for risk assets, with cryptocurrencies moving lower alongside stocks.
The Federal Reserve’s September Federal Open Market Committee minutes also pointed to the possibility of one more rate hike before the end of the year. Markets are pricing in a move in December, a factor that added to demand for defensive positioning.
Major tokens fall across the board
Among the large-cap tokens, SOL and XRP posted some of the steepest losses. SOL fell 3.35% in 24 hours to $116.5, while XRP dropped 4.86% to $1.4243. The report said outflows in the altcoin market intensified, with capital continuing to rotate into stablecoins.
Bitcoin remains above nearby support
From a technical standpoint, BTC closed its daily candle at $83,322 on Oct. 7 UTC. Its 14-day RSI stood at 52.9, placing it in neutral territory. The closing price remained below the 20-day simple moving average at $84,203, but above the 50-day SMA at $80,297 and the 200-day SMA at $71,765. MACD stayed in a bearish alignment, and the histogram expanded from the previous day.
On Bollinger Bands (20,2), the middle band stood at $84,203 and the lower band at $80,997, with BTC closing below the middle band. Resistance levels were identified at the 20-day SMA of $84,203 and the upper Bollinger Band at $87,409. Support levels were listed at the lower Bollinger Band of $80,997, the 50-day SMA at $80,297, and then the 30-day low at $74,968.
Ether trades near its lower Bollinger Band
ETH closed its daily candle at $2,574 on Oct. 7 UTC. Its 14-day RSI was 45.3, also in neutral territory. The close sat below the 20-day SMA at $2,685, but above the 50-day SMA at $2,547 and the 200-day SMA at $2,128. MACD remained bearish and the histogram widened.
For Bollinger Bands (20,2), the upper band was $2,772, the middle band was $2,685, and the lower band was $2,597. ETH closed near the lower band. Resistance was marked at $2,597, then the 20-day SMA at $2,685, and the upper band at $2,772. Support was identified at the 50-day SMA of $2,547 and the 30-day low of $2,359.
Fear & Greed Index falls to 64
Alternative.me’s Crypto Fear & Greed Index traded in a range of 64 to 74 over the past eight days. It stood at 71 a day earlier and fell to 64 in the latest reading. The report said that points to cooling greed rather than a broad spread of panic.
The article cited data from Binance, CoinGecko, Alternative.me and CoinGlass.