Crypto Market Remains Steady Despite Global Volatility
Bitcoin and Ethereum prices remained relatively stable, with Bitcoin hovering near $84,000 and Ethereum inching towards $2,700, despite some minor corrections in the past 24 hours.
According to data from Coingecko, the global crypto market capitalization dipped 1.6% to $2.97 trillion. Nischal Shetty, Founder of WazirX, noted that the crypto market remained steady this week, despite changes in interest-rate expectations, Treasury yields, commodities, and global equities.
Shetty also pointed out that crypto ETFs recorded approximately $1.9 billion in overall net inflows, with positive flows outweighing an outflow of around $200 million on September 30.
Riya Sehgal, Research Analyst at Delta Exchange, noted that Bitcoin's rejection from the 86,000-87,200 supply zone brought the price back near $84,500, while Ethereum rejected from roughly $2,775 and retreated toward $2,680.
Sehgal further mentioned that with Bitcoin open interest having risen by roughly $2.3 billion and funding rates elevated, leverage remains an important source of near-term volatility alongside Treasury yields.