BTC tumbled below $80K as risk sentiment relaxed after the Federal Reserve raised rates to 3.75%-4%, indicating potential for a further hike. US spot Bitcoin ETFs saw inflows of ~$424m across three straight days but bought momentum failed to propagate prices owing to a wider risk asset selloff. $78K support hold remains crucial and reclaiming the $80K-$81K region will be significant to regain lost support said Coin Switch Markets Desk.
Bitcoin drops below $79,000, down 3% on the day, as hotter US inflation and a tech-led sell-off dragged risk assets. September PCE inflation rose to 3.6%, while third quarter US GDP increased 3.4%, boosting chances of a December rate hike from the Fed, now at nearly 80%. After plung 12% on earnings disappointments, Alphabet helped drag the rest of the tech sector lower. Still, institutional flows held up well: US spot Bitcoin ETFs pulled in $137.3 million on Wednesday, lifting three-day streak of positive inflows. Franklin Templeton launched two ETFs that provide investors with a way to generate re-invested dividends in Bitcoin. Bitcoin needs to get back above $80,000 to regain its upward momentum, while $78,000 stands as the significant support level. — Prateek Gupta, Head of Business, Mudrex
Bitcoin fell below the $79,000 level as selling increased and crypto prices broadly declined. The correction was exacerbated by large liquidations, especially of long positions, indicative of cautious investor mood. Leading digital assets such as Ethereum, XRP and Solana experienced sell-offs, but sustained institutional participation and ongoing innovation across the wider digital asset ecosystem will likely be important influences on market sentiment over the longer term.
“In the short term, an ability to test the $79,000-$80,000 levels will be key for Bitcoin, while a sustained move above $80,000 could be enough to revive sentiment. Investors should be patient on buys during volatile moves, prefer discipline position sizes and monitor institutional flows, macro developments and the broader market before adding to their books.”
Otto Launches the First-ever Voice AI CRM, Empowering Field Sales Reps to Diddle Away Deals with a Single Call
Otto (Ottoverse, Inc.), a voice AI company building CRM for field sales teams, today announced the launch of the world’s first voice AI CRM. With Otto, field sales reps can carry their entire CRM on their phone, eliminating the need to type notes into a laptop after a customer visit.
Field reps spend a large chunk of the day in transit to a customer location, plant or office, and often put meeting notes into a CRM when they return to a laptop. With Otto, a rep leaves a message about the visit on the platform, recounting the meeting as if explaining to a coworker.
Market Movement By CoinDCX Research Team
Bitcoin percent falls below $78,000, lands at $77,994 with a significant benefit of the majority of the crypto marbles. Besides, Ethereum dives down to $2,228 with increased selling pressure, ZEC lands at $1,180 & charts a recovery back to $1,283, XRP captures the weekly highs below the $1.24 mark, SOL to $96.83 and ADA to $0.19. Notably, Hyperliquid stays on the bullish note scaling to $92 whilst bears try to restrict the levels below $90. The top gainers of the day are Hyperliquid which pumps by 5.72% followed by Pi and SPX6900 by 3.93% & 2.97% gain. On the other hand, Raydium tanks more than 7%, followed by Mantle by 6.22% & Bitcoin Cash, Dash, NEAR Protocol, Stacks, Midnight & Jupiter by more than 5% each. The crypto fear and greed index declines to 35 with a bearish market sentiment.
The deeps of crypto fall mainly continues on security problems, the estimate damage at around $6.3 billion The Binance stole £4.9 billion, had paused deposits and withdrawals even when found & assured customers that their funds were in their hands. Causing total liquidation of $1.51 billion, with the long run account door $1.28 billion. Possibly, the Dev Ops account owner laptop was corrupted in the hacker’s office, no privy key available and, he has finished dumping $158.25 million worth of altcoin. Besides, Arbitrum Security Council executes a transaction to freeze nearly $30.5 million from the Finance Binance exploit.
Meta Description: Bitcoin Price Today: BTC falls below $79,000 as US inflation, Fed rate hike fears and crypto market selling pressure weigh on investor sentiment.