The 9 point increase in sentiment was short lived and lead to a 7 point drop overnight after a 9% crash in $BTC (-0.38%) . This left bitcoin struggling at the 20.3k mark but hasn't fallen below the 20k barrier. This of course is mirroring the S&P 500 which also took a dive yesterday too after the higher-than-expected CPI inflation data.
The Terra chains seem to ignore current data and work in the exact opposite way to the rest of the market. $LUNC (-0.13%) is up 5.5%, USTC is up 4.5% and LUNA is up 1.3%. Very few alts in the top 100 remain unscathed in the dip.$AVAX (-0.69%) and $EOS (-1.74%) both dropped by over 10% and $SOL (-1.11%) by 12%. There will be to be a bit of regrouping before the 21st rate increase but it won't be easy and plain sailing.
Staying strong now is going to pay off one day in my opinion.
Everyone is loving the green and six points up in sentiment backs the recent rally. $BTC (-0.38%) is 7.5% up in the last 7 days and 5.4% in the last 24 hours on a strong rally that has seen $BTC (-0.38%) trading at 21.4k. This could be the build up to September 21st, there is certainly no real monetary policy easing in the pipeline. The likelihood of a three quarter point increase in rates is on the cards and this could just be the early rally to get the most out of the market before that. Alternatively, the market could already have the rate increase priced in and we're in for plain sailing from here until after the federal meeting.
The green keeps on being green in the altmarket too. Though, has made the top spot in the top 100 and has smashed a 200% increase in value to get there. First it was $LUNC (-0.13%) now it's LUNA. Both have secured top 100 spots with this current rally. $LUNC (-0.13%) drops to 29th spot and LUNA in 58th.
I just got 500,000 coins for 70€ 1 - 2 months ago. Are now worth 150€ and it has the old low since then never reached again. I think 1ct is not even so unrealistic. But who knows, maybe it will be 1€ someday.
