Crypto Weekly (Oct 21 - Oct 27): Bitcoin Sideways, Altcoins Drop Sharply

Table of Contents

Crypto Market Overview Last Week

In the final week of October, Bitcoin remained relatively stable, trading within a narrow range of $65,100 to $69,400. Although it initially surpassed the $69,000 level with hopes of reaching $70,000, Bitcoin later adjusted and moved sideways due to negative news. Despite this, Bitcoin continued to see strong interest from ETF funds, with BlackRock notably “holding up” Bitcoin ETFs last week, bringing in nearly $1 billion in inflows.

While Bitcoin held steady with slight declines, altcoins faced heavy selling pressure, pushing many back to their recent lows. The “Uptober” sentiment seems to have lost its relevance this year.

Top 10 Weekly Gainers

Top 10 Weekly Losers

Key News Highlights

Token Unlock Schedule This Week

This week’s notable token unlocks include:

$TIA: $923 million
$SUI: $145 million
$OP: $51.17 million
$IMX: $43.44 million
$TRIBL: $12.61 million
$MAV: $8.00 million
$PORTAL: $6.92 million

Macroeconomic News This Week

We are set to receive several key economic updates this week:

On Wednesday, October 30, 2024, at 12:15 (UTC), the ADP Non-Farm Employment Change report will be released, which tracks employment changes outside of the agricultural sector. If actual figures exceed forecasts, this will likely be positive for the USD, and vice versa.

Also on Wednesday, at 12:30 (UTC), the GDP report will be released, measuring the overall health of the economy. A higher-than-expected GDP result would be a positive signal for the USD, and vice versa.

Follow AZC.News to stay updated on the latest market news and explore potential daily airdrop opportunities.