{"id":505903,"date":"2022-10-12T17:00:29","date_gmt":"2022-10-12T17:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=505903"},"modified":"2024-06-11T08:01:34","modified_gmt":"2024-06-11T08:01:34","slug":"crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth\/","title":{"rendered":"Crypto Market Shows No Signs Of Positive Movement, Is ‘Uptober’ A Myth?"},"content":{"rendered":"

The crypto market woes from September look to have spilled onto October and going against the historical trend of October being a rather bullish month. September had seen the crypto market close with muted performances, but there has not been much change for the new month. Almost two weeks into the month, and it is starting to look like the much-awaited \u201cUptober\u201d will disappoint investors.<\/p>\n

Poor performances All-Around<\/h2>\n

All of the indexes in the crypto market are seeing poor performances from market participants. The first two weeks of the month have come back with negative movement and the declines have continued. The size of a cryptocurrency has not mattered either since they have all suffered closely similar fates.<\/p>\n

Related Reading: Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC<\/a><\/div>\n

The Small Cap Index came out as the worst performing for the first two weeks of October with -4.7%. This is understandable given small cap altcoins have been known to take movements a couple of steps further; recoveries run higher and declines run lower.<\/p>\n

Large Cap coins followed as the second-worst performer in the same time period with returns of -2.4%. A bit more surprising given that they closely follow bitcoin price but it did not fall too much behind the Mid Cap Index which saw a decline of -2.1%.<\/p>\n

\"Crypto<\/p>\n

Market performance remains bad | Source: Arcane Research<\/a><\/pre>\n

Bitcoin emerged as the best performer for this time period with only -1.5% in losses. It also follows the trend that investors are turning more towards bitcoin during this time and taking advantage of the decline in price.<\/p>\n

Crypto Market Deviates From Norm<\/h2>\n

All of the performances highlighted above only go to show that the crypto market is not performing as expected. Even though investors are moving back into bitcoin, the market share of stablecoins is still on the rise, so there is still a flight to safety among investors.<\/p>\n

\"Crypto<\/p>\n

Total market cap below $900 billion | Source: Crypto Total Market Cap on TradingView.com<\/a><\/pre>\n

For the last week, the crypto market dominance of bitcoin fell by another 0.20%, and ETH fell 0.24%, with recorded losses from others in the top 10 such as BNB, ADA, and SOL. Most of this lost dominance went to stablecoins such as USDT, USDC, and BUSD, all of which saw an increase in their dominance.<\/p>\n

Related Reading: Here\u2019s Why SUSHI Is Down More Than 10% In The Last 24 Hours<\/a><\/div>\n

Crypto market sentiment still remains low in the extreme fear territory, which suggests that there is no expected recovery in the market during this time. Unless there is a reversal in this move to stablecoins, the market will continue to see negative rates.<\/p>\n

Featured image from NASDAQ, charts from Arcane Research and TradingView.com<\/pre>\n

Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto market woes from September look to have spilled onto October and going against the historical trend of October being a rather bullish month. September had seen the crypto market close with muted performances, but there has not been much change for the new month. Almost two weeks into the month, and it is starting to look like the much-awaited \u201cUptober\u201d will disappoint investors. Poor performances All-Around All of the indexes in the crypto market are seeing poor performances from market participants. The first two weeks of the month have come back with negative movement and the declines have continued. The size of a cryptocurrency has not mattered either since they have all suffered closely similar fates. Related Reading: Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC The Small Cap Index came out as the worst performing for the first two weeks of October with -4.7%. This is understandable given small cap altcoins have been known to take movements a couple of steps further; recoveries run higher and declines run lower. Large Cap coins followed as the second-worst performer in the same time period with returns of -2.4%. A bit more surprising given that they closely follow bitcoin price but it did not fall too much behind the Mid Cap Index which saw a decline of -2.1%. Market performance remains bad | Source: Arcane Research Bitcoin emerged as the best performer for this time period with only -1.5% in losses. It also follows the trend that investors are turning more towards bitcoin during this time and taking advantage of the decline in price. Crypto Market Deviates From Norm All of the performances highlighted above only go to show that the crypto market is not performing as expected. Even though investors are moving back into bitcoin, the market share of stablecoins is still on the rise, so there is still a flight to safety among investors. Total market cap below $900 billion | Source: Crypto Total Market Cap on TradingView.com For the last week, the crypto market dominance of bitcoin fell by another 0.20%, and ETH fell 0.24%, with recorded losses from others in the top 10 such as BNB, ADA, and SOL. Most of this lost dominance went to stablecoins such as USDT, USDC, and BUSD, all of which saw an increase in their dominance. Related Reading: Here\u2019s Why SUSHI Is Down More Than 10% In The Last 24 Hours Crypto market sentiment still remains low in the extreme fear territory, which suggests that there is no expected recovery in the market during this time. Unless there is a reversal in this move to stablecoins, the market will continue to see negative rates. Featured image from NASDAQ, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":505907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[428,6664,10923,87186,1557,1558,1946,87108],"class_list":["post-505903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-bitcoin","tag-crypto","tag-crypto-market","tag-crypto-market-performance","tag-cryptocurrencies","tag-cryptocurrency","tag-ethereum","tag-uptober"],"acf":[],"yoast_head":"\nCrypto Market Shows No Signs Of Positive Movement, Is 'Uptober' A Myth?<\/title>\n<meta name=\"description\" content=\"The crypto market woes from September look to have 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market Shows No Signs Of Positive Movement, Is ‘Uptober’ A Myth?","url":"http:\/\/uniquehot.com\/news\/crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/crypto-market.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/crypto-market.jpeg?fit=2121%2C1414"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","crypto market","crypto market performance","cryptocurrencies","cryptocurrency","ethereum","uptober"],"dateCreated":"2022-10-12T17:00:29Z","datePublished":"2022-10-12T17:00:29Z","dateModified":"2024-06-11T08:01:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market Shows No Signs Of Positive Movement, Is ‘Uptober’ A Myth?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-shows-no-signs-of-positive-movement-is-uptober-a-myth\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/crypto-market.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/crypto-market.jpeg?fit=2121%2C1414\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"crypto market\",\"crypto market performance\",\"cryptocurrencies\",\"cryptocurrency\",\"ethereum\",\"uptober\"],\"dateCreated\":\"2022-10-12T17:00:29Z\",\"datePublished\":\"2022-10-12T17:00:29Z\",\"dateModified\":\"2024-06-11T08:01:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/crypto-market.jpeg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/505903"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=505903"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/505903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/505907"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=505903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=505903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=505903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}