Altcoin Weekend Selloff: Worst Drop Since April
Equity market fear is spilling into crypto, with the typical altcoin down 5%+ this weekend — the largest weekend drop since April — while macro headwinds from Japanese bank bond selling add pressure.
What we know
Glassnode reports the typical altcoin is down 5%+ this weekend as equity fear bleeds into crypto — if the weekend closes here, it will be the largest weekend drop since April. Buying Friday and selling Sunday has been the winning trade since Bitcoin's June lows — an account on X. Edward Morra warns against new bearish positions at range lows, saying the time to be bearish was a month ago at resistance — another account on X. Shade is cutting risk with a $80k BTC reclaim as the re-entry trigger — another account on X. Macro backdrop includes Japanese banks selling $16B of foreign bonds in September, their 9th consecutive monthly sale — another account on X.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.