It’s the last hours of October and the Uptober story has become a reality, if only for a few days of the month. Throughout the month, we saw that BTC saw both the bottom and the top and stopped at the midpoint. There is an important reason for the continued weak movement. If this index can recover, we can see the desired rise in cryptocurrencies begin.
Why Is Crypto Falling?
in cryptocurrencies The main reason for the decline is the decline in risk appetite of US-based investors. The China deal, the agreement on tariffs, the good earnings reports of trillion-dollar giants and many other good developments were not enough to fix this. The USA approved the 12-month China agreement, but the markets are at the same levels as when the tension continued.
On-chain analyst Anıl (anlcnc1) wrote the following on this subject;
“Coinbase Premium index I don’t understand why the price increase is seen as negative. There is a problem here, it needs to be improved. We need to regain US volume, otherwise price increases will continue to create risks. “The important thing is not what price level it reaches, we need to see positive.”
Bitcoin 
$110,037.86 If the price is higher on the Coinbase exchange than other exchanges, it means that the premium index increases. In other words, the demand from US customers is high and BTC is bought and sold at a price above the global price, which means that the appetite is strong. The current situation says this is a net negative and deeper bottoms are being seen.
With the recovery of the Coinbase Premium Index, that is, the increase in risk appetite of US investors, cryptocurrencies may initiate the desired return. Otherwise, it seems that every rise will herald a new decline.
If Cryptobullet BTC Sharing his weekly chart, he mentioned that this had turned into a nightmare. Compared to the previous cycle peak, this tells us painfully that bull markets may be over. However, since the current cycle is different from previous ones in many aspects, it is possible that we will see a surprise recovery.
TAO Coin
One of the altcoins that Sherpa monitors TAO. The analyst who shares the chart below says that he holds a small amount, but we may see more rise once the threshold is broken. TAO Coin It has brought good gains this year and can be evaluated after the breakout if it attempts a bigger peak again.
