Bitcoin, Ethereum, XRP, Dogecoin Lose Over 2% in Cross-Market Selloff
Bitcoin holds near $81,500 after falling 2% over the past 24 hours as hotter-than-expected CPI data fueled expectations of further CryptocurrencyTickerPriceBitcoin$81,631.79Ethereum$2,432.53Solana$104.37XRP$1.33Dogecoin$0.08208Shiba Inu$0.055061Notable Statistics:Coinglass data shows 89,108 traders were liquidated in the past 24 hours for $331.89 million. SoSoValue data shows net inflows of $175.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $24.84 million.In the past 24 hours, top gainers include Bitway, Venice Token and Pearl.Notable Developments:Ripple Adds Fourth Korean Partner but XRP Slides to $1.35Saylor Sees Bitcoin Above $100,000—So Why Is Strategy Willing to Sell?Trader Notes:Analyst Kevin expects Bitcoin to form a higher low around the upcoming U.S. midterm elections, noting that BTC bottomed in the weeks following the 2014, 2018 and 2022 elections.He argues that higher-timeframe indicators already resemble previous market bottoms, making a fresh low historically unusual.Kevin sees $77,000 to $83,000 support holding for a rally to $93,000 to $100,000, while a breakdown below $77,000 could trigger a pullback to $67,000 to $76,000.Trader KillaXBT noted that Bitcoin’s decline heading into Oct. 14 could set the stage for a reversal, citing a recurring pattern over the past year in which BTC moves against bearish expectations around that date.The trader suggested a potential rebound if the historical pattern repeats.Image: Shutterstock Read Also: Can the Midterms Trigger a Bitcoin Rally? 3 Factors Suggest Yes