BlockBriefly

Date: October 5, 2024

Market Cap 24h Change: -2.02%

Reason: but the reason is not clear

Date: October 3, 2024

Market Cap 24h Change: -1.96%

Reason:

The market has been down by -1.96% because of several interconnected factors:

• $272 million in market liquidations have occurred in a short period, showing significant volatility and uncertainty in the market.
• The outflow from Bitcoin ETFs, totaling $52.9 million, suggests reduced confidence among institutional investors in Bitcoin, which may be weighing on market sentiment overall.
• Altcoins are also under pressure, with a broad decline in their values, enhancing the cumulated downtrend in the crypto market.
• A significant focus on regulatory actions, such as the SEC's decision to appeal the XRP court ruling, signals ongoing legal uncertainties affecting investor sentiment.

Date: October 1, 2024

Market Cap 24h Change: -5.83%

Reason:

The market has been down by -5.83% because of multiple factors:

• Crypto losses from hacks and scams surged to $750 million in Q3, pushing total losses for the year to over $1.9 billion, contributing to a negative sentiment in the market.
• Bitcoin’s spike in long positions may signal an imminent price correction, leading to further sell-offs.
• Gemini’s planned exit from the Canadian market is causing uncertainty among investors.
• Middle East tensions have caused a massive crypto market shakeup, resulting in $489 million in liquidations. Additionally, Bitcoin’s sharp price drop as 'Uptober' begins is contributing to the downturn.

Date: September 29, 2024

Market Cap 24h Change: -0.91%

Reason:

The market has been down by -0.91%, but the reason is not clear.

Date: September 27, 2024

Market Cap 24h Change: 0.50%

Reason:

The market has been up by 0.5% because of several positive developments:

• Spot Bitcoin ETFs recorded their best day since July with $365 million inflow, reflecting strong institutional interest (source).
• Bitcoin achieved its best September performance in history by climbing to $66,000, highlighting investor confidence (source).
• BlackRock's Bitcoin holdings increased to nearly $24 billion, underscoring major investment in the cryptocurrency from one of the largest asset managers (source).