Greed

Bitcoin

when

<p>The world’s crypto market cap inched 0.48% higher to $2.14 trillion on October 11, while trading volume was 4.50% higher. <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a> continued to trade flat at around $60K even after witnessing outflows from the fund. </p> 
<p>On the other hand, WIF and Popcat led the pack of altcoin gains. At the same time, the Fear &amp; Greed Index dropped to 32, where Fear took over due to inflation worries and the latest CPI.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-steady-at-60k-amid-etf-outflows"><strong>Bitcoin Steady at $60K Amid ETF Outflows</strong></h2> 
<p>The recent uptick in BlackRock’s Bitcoin accumulation comes amid broader economic developments, including the latest U.S. Consumer Price Index (CPI) data release, which showed a 0.1% increase for September.</p> 
<p>BlackRock, appears to have resumed purchases, buying 12,272 BTC since September 24, and doing so amid ongoing concern over inflationary pressures.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="743" height="589" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-142.png" alt="" class="wp-image-770756" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-142.png 743w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-142-300x238.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-142-150x119.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-142-696x552.png 696w" sizes="(max-width: 743px) 100vw, 743px">
  <figcaption class="wp-element-caption">
   Source:X
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 </figure>
</div> 
<p>BlackRock’s move to expose more of its funds in bitcoin can be attributed to the fact that Bitcoin has been able to hold the crypto critical $60,000 support level despite some headwinds. Very notable is the data of recent outflows of over $120 million from Bitcoin ETFs resulting from reluctant investor sentiments.</p> 
<p>However, the fact that BlackRock has been so aggressive with buying on those ETF outflows is actually a strong reflection of confidence in the future value of Bitcoin, which positions them to take advantage of any potential future gains when the crypto market conditions change.</p> 
<h2 class="wp-block-heading" id="h-crypto-market-wif-and-popcat-lead-altcoin-gains"><strong>Crypto Market: WIF and POPCAT Lead Altcoin Gains</strong> </h2> 
<p>On October 11, <a href="https://www.thecoinrepublic.com/price-prediction/dogwifhat/">Dogwifhat</a> and Popcat showed strong gains, gobbling up the gainer crown. Its price surged to $2.54, up 12%. The daily trading range of the coin included lows of $2.25 and highs of $2.57 with the market appearing bullish about it. </p> 
<p>Recently WIF’s momentum has been driven in part by investors who have closely followed WIF’s breakout.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="511" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-1024x511.png" alt="" class="wp-image-770751" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-150x75.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-696x348.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141-1068x533.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-141.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: TradingView
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 </figure>
</div> 
<p>Just as it has manifested, the recent period of inflation triggered Popcat, a Solana based insta meme coin, one of the largest gainers. It was launched in December when there was a growth of interest in Solana meme coins, too, caught especially quickly by the inclusion of the upcoming Pump.fun minting protocol in January.</p> 
<p>On October 11, the token reached an all time high of $1.32 but has since retraced by about 18%. But the coin continues to hold strong as a 9% surge shows more upward momentum and demand.</p> 
<h2 class="wp-block-heading" id="h-ethereum-solana-and-xrp-trade-in-positive-territory"><strong>Ethereum, Solana, and XRP Trade in Positive Territory</strong></h2> 
<p>Other major cryptocurrencies showed mixed performance on October 11. <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/">Ethereum</a> experienced a modest gain of about 1%, with its price rising to $2,410. Solana&nbsp; is currently trading at $141.75, reflecting a 1.77% increase over the past day. </p> 
<p>The 24-hour trading volume has risen by 11.53% to $1.84 billion, showing increased activity in the market. XRP climbed&nbsp; 2% to reach $0.536. The price increase follows Ripple’s ongoing legal battles with the SEC, which have sparked discussions among crypto market participants.</p> 
<h2 class="wp-block-heading" id="h-crypto-market-fear-and-greed-index"><strong>Crypto Market Fear and Greed index</strong></h2> 
<p>The Fear &amp; Greed Index has been trending downward over the past week, currently standing at 32, indicating “Fear” in the cryptocurrency market. The decline suggests a shift towards more cautious sentiment among investors, such as the U.S. Consumer Price Index (CPI) data release showing a 0.1% inflation increase for September.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="551" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-1024x551.png" alt="" class="wp-image-770761" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-1024x551.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-300x162.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-768x414.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-150x81.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-696x375.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143-1068x575.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-143.png 1443w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Alternative
  </figcaption>
 </figure>
</div> 
<p>The higher-than-expected inflation has&nbsp; heightened concerns about monetary tightening, contributing to the market’s risk-averse stance and causing a drop in sentiment from a neutral to fearful state. Market observers continue to watch how inflation data and potential economic measures, such as those from China, will affect the crypto market in the coming days. </p> 
<p>The People’s Bank of China’s anticipated fiscal measures, expected to include $283 billion in stimulus, have sparked interest but have yet to produce a substantial market reaction. This dynamic has kept traders on edge, especially as they evaluate the potential for further price movements in the crypto market.</p>  
<p>The post <a href="https://www.thecoinrepublic.com/2024/10/12/crypto-market-cools-off-with-altcoins-leading-the-surge/">Crypto Market&nbsp; Cools Off With Altcoins&nbsp; Leading The Surge&nbsp;</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Crypto Market Cools Off With Altcoins Leading The Surge

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