Good afternoon to all my friend's. I hope you all are doing well. I am having a fantastic. Just had my lunch in office and writing this post about crypto market. Today we are discussing the current market situation. In the first week of October, we noticed a market correction due to war. The market has been on a downward trend for the last week or so, with Bitcoin declining, and altcoins following suit. When Bitcoin recovers, altcoins don't always recover at the same rate as they did last month. Currently, Bitcoin dominance is rising and that's why it is affecting altcoins' performance.
We'll also look at U.S. government bonds, particularly treasury bonds, since their movements are important during conflicts, like the recent one between Israel and Hamas. When people fear a market crash, they invest in safer assets like government bonds. For example, when there was news about the conflict, Bitcoin dropped significantly. The bond market reacted by increasing, but then it also faced a decline. Historically, during times of conflict, Bitcoin has shown a mixed pattern of behavior, with some recoveries following initial declines. We need to keep an eye on the upcoming CPI data release, as it can influence market behavior. A positive CPI could lead to market recovery, but if the bond market continues to rise, it might impact Bitcoin negatively. That's it , it's a complex situation, and investors should be cautious and stay informed about market developments. Here's the latest update video of crypto market. Thanks & have a good day!!
@abfarhan