Morning Minute: Bitcoin Gets Spooked as ‘Uptober’ Lets Down
60-second summary
Bitcoin drops sharply as “Uptober” fizzles, pulling major crypto assets into the red and sending altcoins tumbling; on‑chain metrics signal capitulation with declining transaction volumes and rising exchange inflows. The failed rally erodes investor confidence, prompting further sell pressure that could extend bearish momentum across the broader cryptocurrency market in 2024, raising doubts about upcoming price rebounds.
Crypto majors are red, alts are down bad and onchain is facing capitulation. This was not the ‘Uptober’ that was promised…