Bitcoin, Ether Under Pressure as Altcoins Reel, Futures Flash Caution: Crypto Daybook Americas

Market Overview - Bitcoin (BTC) briefly fell below $100,000 for the first time since June, marking a decline of over 20% from its all-time high of above $126,000 set in early October [1] - The broader crypto market, as indicated by the CoinDesk 20 (CD20) index, experienced a 2.6% drop in the last 24 hours and has decreased more than 27% over the past 30 days [1] Liquidation and Market Sentiment - The recent sell-off resulted in over $1.7 billion in liquidated crypto positions, predominantly affecting long traders [2] - Market conditions have been influenced by a combination of factors including the aftermath of significant liquidations on October 10, a more hawkish tone from the Federal Reserve, and a general risk-off sentiment across various assets [3] Technical Analysis - Bitcoin is currently attempting to maintain its position above the 50-week simple moving average, a critical support level historically associated with long-term price recoveries, which is just under $103,000 [3] Security Concerns - A recent $128 million hack on Balancer has raised new security concerns within the decentralized finance ecosystem, negatively impacting market sentiment [4] Sentiment Indicators - The Crypto Fear and Greed Index has shifted to a state of "fear," indicating a decline in market sentiment [5] - Near-term catalysts for price recovery appear limited, although potential supportive factors include the reopening of the U.S. government and favorable crypto legislation [5]