{"id":25458,"date":"2022-10-04T10:01:24","date_gmt":"2022-10-04T04:31:24","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=25458"},"modified":"2022-10-04T10:01:24","modified_gmt":"2022-10-04T04:31:24","slug":"crypto-market-update-4-october-2022","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/crypto-market-update-4-october-2022\/","title":{"rendered":"Crypto market update: 4 October 2022"},"content":{"rendered":"<p>After a lackluster September, October too began on a subdued note as the weekend saw the broader crypto market trading in the red. <a href=\"https:\/\/coinswitch.co\/switch\/news\/crypto-market-update-october-3-2022\/\">Monday<\/a> was no different either, with the long-standing slow market streak continuing, while Tuesday looks uninspiring so far despite a slight uptick in the global crypto market cap. The US Federal Reserve\u2019s weekend announcement regarding interest rates appears to have cast a pall over the market.<\/p>\n<h2>Stats for thought<\/h2>\n<p>While the current crypto market looks rather stagnant, these daily stats may make or break a trade:<\/p>\n<ul>\n<li>At publishing time, the global crypto market cap stood at $941.7 billion, registering a 1% increase in the last 24 hours. Furthermore, the total crypto market volume was over 20% in a day at $52.83 billion, but massively low as opposed to last week\u2019s $80.41 billion.<\/li>\n<li>Bitcoin\u2019s market dominance maintained its superior status at 39.8%, indicating a rather small increase of just 0.08% over the day.<\/li>\n<li>While BTC was trading at $19,530 at publishing time, while ETH, the second largest crypto by market cap, stood at $1,320 with nearly 2% hike in day-on-day price metrics.<\/li>\n<li>According to <a href=\"https:\/\/in.tradingview.com\/chart\/?symbol=BINANCE%3AETHBTC\" target=\"_blank\" rel=\"noopener\">Tradingview<\/a>, ETH\/BTC ratio was down by almost 20% since September 8 (pre-Merge), which means the crypto market continues to remain in the bear phase.<\/li>\n<li>The broader market sentiment and the onshore crypto index (<a href=\"https:\/\/coinswitch.co\/crypto-index\/\">CRE8<\/a>) also displayed stagnancy with barely any movement over the past 24 hours. At the time of reporting, CRE8 was only up by 0.10% in a day.<\/li>\n<\/ul>\n<h2>Trending coins<\/h2>\n<p>At the time of writing, BTC\u2019s trading volume stood above $29 billion as opposed to its last week numbers of over $46 billion. Meanwhile, ETH\u2019s volume was just over $9 billion compared to last week\u2019s status at $16 billion.<\/p>\n<p>Along with the dominant cryptos experiencing a slow pace in trading volumes, the leading stablecoin USDT also witnessed a massive drop. It fell by over 45% to $38 billion from last week\u2019s $60 billion level amid the ongoing slowdown in the crypto market.<\/p>\n<p>Bringing some cheer amid the gloom, Terra Classic and Solana, along with Bitcoin and Ethereum, maintained their status as the highest social mentions for the second week in a row, according to <a href=\"https:\/\/lunarcrush.com\/coins?metric=social_volume\" target=\"_blank\" rel=\"noopener\">LunaCrash<\/a>. Social mentions, aka a token\u2019s social media presence, directly impact its price movement. It signifies which cryptos are able to attract the most attention from the crypto community on relevant social media platforms.<\/p>\n<h2>The Crypto Fear and Greed Index<\/h2>\n<p>The Crypto Fear and Greed Index (<a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener\">CFGI<\/a>) stood at 20 at the time of writing, signifying extreme fear. More importantly, the CFGI level has remained at the level of 20 or thereabouts for two consecutive weeks now.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-25459 aligncenter\" src=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-300x86.png\" alt=\"\" width=\"610\" height=\"175\" srcset=\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-300x86.png 300w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-1024x294.png 1024w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-768x221.png 768w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-1536x441.png 1536w, https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/10\/Screenshot-2022-10-04-at-7.46.37-AM-2048x588.png 2048w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/p>\n<p>In order to change the bearish position of the market, the trader community seeks both strong buying pressure and a relief rally. However, the CFGI that records market volatility, social media sentiment, and dominance saw its highest reading in the past two weeks at 34\/100 on 13 September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a lackluster September, October too began on a subdued note as the weekend saw the broader crypto market trading in the red. Monday was no different either, with the long-standing slow market streak continuing, while Tuesday looks uninspiring so far despite a slight uptick in the global crypto market cap. The US Federal Reserve\u2019s [&hellip;]<\/p>\n","protected":false},"author":97,"featured_media":25461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6602],"class_list":["post-25458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-market-update"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Palak Malhotra\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/palak\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8a4eb1eaba29a875ba204825d6530ed2?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/97"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=25458"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25458\/revisions"}],"predecessor-version":[{"id":25468,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/25458\/revisions\/25468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/25461"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=25458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=25458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=25458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}