Markets· ★★★· bearish·

Wintermute: Altcoins Need a Bitcoin Breakout Above $87K to Escape Sell-Off

  • —Altcoins fell 5.69% over the week as capital rotated into BTC and ETH
  • —Bitcoin dominance reached 60% amid broad altcoin weakness
  • —$679 million in spot Bitcoin ETF outflows drove BTC down to $80,400
  • —The Oct. 28 FOMC meeting is seen as the most likely breakout catalyst
Why it matters: Without a Bitcoin-led move, a broader altcoin rally is unlikely, and the Fed's Oct. 28 decision will set the direction for the whole market.
#BTC#ETH
Source: Cryptonews.net
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