How’s the Market Doing?
Bitcoin tried to break $80,000. Twice. And twice, the market said: not yet.
It’s currently sitting around $76,688, not crashing, not flying, just aggressively refusing to make up its mind. The Fear & Greed Index is at 40, which means the market is scared but not screaming. Think of it as that friend who says “I’m fine” but clearly isn’t fine.
Three things are keeping Bitcoin pinned below $80K. The Fed held rates for the third meeting in a row, but four members dissented, which hasn’t happened since 1992. Oil jumped above $113 per barrel because the Iran situation is not improving. And long-term Bitcoin holders are quietly moving coins to exchanges to cash out near $79K. Classic “I’ll sell a little here” energy from people who bought at $30K and are very much not complaining.
This guy they call “Crypto Godfather” Michael Terpin says Bitcoin hasn’t bottomed and will dip to $57,000 in October before anything meaningful happens. Mati Greenspan of Quantum Economics disagrees, saying an all-time high this year is still certainly plausible. Two respected people, two completely different predictions. That’s crypto. Nobody really knows. Buckle up. Ethereum on the other hand has been quiet recently, moving sideways with the rest of the market while Bitcoin hogs all the attention as usual. It has been trading around $2,280 as at when this newsletter was written.
