Bitcoin stabilized following its near-20% crash at the beginning of September, and the market structure remains more bullish than it was when it plummeted 50% in March. Large whale order have set a possible floor at about $8,800, though the macro environment is far from certain, and bitcoin may still be partially dependent on the whims of the stock market.
Ether underperformed bitcoin this week, in part because of a SushiSwap crash that magnified the fragility of the DeFi bubble, which has boosted ether in recent months. SushiSwap, founded as a token to bootstrap liquidity on the uniswap decentralized exchange, lost more than 70% of its value after its anonymous creator Chef Nomi liquidated his wallet, netting nearly $12.5 million
Bitcoin stabilized following its near-20% crash at the beginning of September, and the market structure remains more bullish than it was when it plummeted 50% in March. Large whale order have set a possible floor at about $8,800, though the macro environment is far from certain, and bitcoin may still be partially dependent on the whims of the stock market.
Ether underperformed bitcoin this week, in part because of a SushiSwap crash that magnified the fragility of the DeFi bubble, which has boosted ether in recent months. SushiSwap, founded as a token to bootstrap liquidity on the uniswap decentralized exchange, lost more than 70% of its value after its anonymous creator Chef Nomi liquidated his wallet, netting nearly $12.5 million