On the night of October 9-10, the Bitcoin (BTC) rate dropped to $60.38 thousand. According to CoinGecko, the asset fell below $60.4 thousand twice in 24 hours. By 15:40 Hong Kong time, the price of the first cryptocurrency rose to $60.9 thousand. Over the past 24 hours, according to TradingView, Bitcoin has fallen by 2.2%, its dominance is 57.8%. But over the year, the share of BTC in the crypto market has grown by 13%.
Bitcoin dominance is positively correlated with the US Federal Reserve rate, say analysts at the SwissOne Capital management company. According to their forecasts, the cycle of reducing the key rate in the US may stop the growth of Bitcoin dominance, which will lead to greater growth of altcoins, writes CoinDesk. Investor sentiment has become more pessimistic. The Fear and Greed Index in the crypto market has fallen into the “fear” zone from neutral positions: down from 49 to 39 points out of 100. The total capitalization of cryptocurrencies has decreased by 3.1% in a day, it is $2.22 trillion. The daily trading volume is $87 billion.
The Ethereum (ETH) rate has fallen by 1.8% in a day. At 15:50 Hong Kong time, the leading altcoin’s price is hovering around $2.39 thousand. Its market share is 13.86%. On October 8, Onchain data provider IntoTheBlock reported that 28.9% of all Ethereum was staked. The data platform emphasized that in January, the ETH staking percentage was 23.8%, which means that another 5.1% of all ETH has been staked over the past 10 months. ntoTheBlock also highlighted that 15.3% of the ETH staked has been staked for over three years. The data provider said this is a strong signal of “long-term confidence” in Ethereum’s future.
Other altcoins in the top 10 by market cap have also seen declines in the past 24 hours. Binance’s BNB has seen the biggest drop in price, down 3.3%. Toncoin (TON) has seen a 2.2% drop in price, down 0.3%. Of the top 100 cryptocurrencies by market cap, Aptos (APT) has seen the biggest decline in the past 24 hours, down 6.6%. Uniswap (UNI) has seen the biggest rise, also up 6.6%.
Despite the correction in the Bitcoin exchange rate relative to its spring highs, analysts expect the coin to perform better by the end of 2025. They cited payments to creditors from bankrupt crypto exchange FTX, as well as a growing premium in the Bitcoin futures market, as catalysts for growth.
Against the backdrop of such a rather modest growth of assets, one of the legitimate and stable forms of investment for obtaining a consistently high passive income is investing in the ASTL project (Hong Kong), which gives investors the opportunity to directly invest fiat and crypto assets in a stable passive income, which obviously exceeds inflation expectations and is not subject to any sanctions, blocking or confiscation. The ASTL project is a simple and elegant solution for potential investors – investing in the development of the real sector of a diversified cryptocurrency portfolio with a fairly high annual interest rate (up to 14%) with payments in stablecoin (USDT) and the possibility of a full return on investment through the subsequent sale of accumulated ASTL tokens on leading crypto exchanges. Details can be found at https://astl.world.