Bitcoin Keeps Reversing. Why Are 80% of Crypto Tokens Falling?

Bitcoin has spent October making both bulls and bears look foolish. It slipped below $80,000 last week, recovered toward $84,000 this week, then fell back toward $81,000. Each bounce has looked promising. Each reversal has exposed how little confidence there is behind it. The damage is much worse beneath Bitcoin’s price. In its October 17–23 Token Pulse report, Bitunix found that roughly 80% of the 300 largest tokens it tracks lost value. Their median weekly return was −3.98%, compared with Bitcoin’s relatively modest 0.71% decline. Cardano, NEAR and SUI lost more than 5%. Starknet’s STRK plunged 39.2%. An overall crypto market recovery becomes harder to sustain when most cryptocurrencies are still falling. Why Does Bitcoin Keep Reversing Course? Expectations for US interest rates have shifted repeatedly.

First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.