Morning Minute: Bitcoin Gets Spooked as ‘Uptober’ Lets Down

GM!

Today’s top news:

• Crypto majors red but rebound off Monday bottom; BTC at $83.4k
• Alts fall 5-12% in nasty drawdown; only 4 of top 100 coins in green
• ETF outflows continue, now deep red for October for BTC and ETH
• Blur announces shutdown; front end deprecated by Nov 12
• Robinhood Chain leaders continue fall despite Vlad comments; Stonk goes sub-$100M

$86.6k$84.6k$82.7k$80.7k

24h HighHigh$84,074

24h LowLow$81,018

VolVol$1.3B

Market projectionsOdds by Myriad

📉 Bitcoin Gets Spooked as ‘Uptober’ Lets Down

Uptober has been anything but. BTC is sitting at $83K, down 3.2% on the week. It topped out near $87K early last week, then slid to $81K on Monday, a roughly 7% drawdown, before bouncing modestly.

Sentiment followed price. The Crypto Fear & Greed Index fell to 56 (neutral), down from 67 a week ago and well off its August peak of 82, the year’s high. That’s essentially back to where we were before the summer rally that had Tom Lee and CryptoQuant’s Ki Young Ju calling the end of the bear market.

Alts took it worse. Over the last 7 days, SOL is down 11%, HYPE 12%, DOGE 12%, XRP 10% and ETH 8%. Prediction markets have cooled too. Myriad odds of BTC hitting $87.5K in October fell from 55% to 45%, while a dip to $80K is now priced at 56%.