Daily review
- Capitalization of the crypto market: $0.918 trillion (-$25 billion);
- Dominance: BTC - 38.9%, ETH - 17.1%;
- Index of fear and greed: 24 (extreme fear) against 22 the day before.
Bitcoin on Monday, October 10, at the end of the day, the BTC/USDt pair fell by 1.58% to $19,132. The decline in quotations was facilitated by the strengthening of the dollar and the decline in stock indices. The dollar rose against the backdrop of rising yields on US bonds. Indexes fell on expectations of rate hikes and fears of an impending recession. Investors are so intimidated that it is not so easy to reverse the market. This confirms the PUT/Call options ratio on the SP500 index.
The PUT/CALL ratio is an indicator that is used to gauge market sentiment. A high ratio may indicate fear, while a low ratio indicates confidence in the market. At the time of writing, the PUT/Call value is 1.24. Investors buy PUT options when they want to protect themselves from a market crash.
Data on the US labor market, which came out on Friday, untied the hands of J. Powell in the further tightening of monetary policy. Accordingly, the speeches of the US Federal Reserve will have an impact on risky assets. Today are Harker and Mester.
The BTC/USDt pair returned to the $19,000 level. The price retraced 62% of the growth from $18,126 to $20,475. Index futures are trading sideways in anticipation of the opening of the European session. Expect a miracle with a rebound or not, is unknown. We are waiting for the opening of the American session.