Bitcoin Price and Ethereum – Casper, Ethereum Name Service, & Maker Pump Near 20%

cryptonews.com:

Early on October 10, major cryptocurrencies were trading in the negative, with the global crypto market cap standing at $944 billion, down 1.04 percent from the previous day. The entire cryptocurrency market volume in the last 24 hours is $31.85 billion, a 37.51% fall.

Bitcoin, the leading cryptocurrency, is consolidating near $19,460, up 0.08% during the Asian session.BTC has formed a Doji candle, followed by a strong bearish trend, indicating that bears have been exhausted and that bulls may enter the market to capture an oversold coin.

Similarly, Ethereum is trading choppy near $1,326, up 0.06%. The ETH/USD pair has yet to break out of the ascending triangle pattern I discussed in my previous report.

The market continues to trade with a risk-off sentiment, with investors preferring safe-haven assets such as gold and the US dollar. The fear and greed index indicates "Extreme Fear" in the market, which could be one of the reasons for the overall cryptocurrency market slowdown.

At the same time, investors believe that "Extreme Fear" is a good time to enter the market because most crypto coins are oversold, and this could be a good time to go long on an oversold coin.

On Friday, the US Bureau of Labor Statistics reported labor market figures for the United Statements. The US unemployment rate fell to 3.5% in September 2022, matching July's 29-month low and falling short of market expectations of 3.75%. While nonfarm payroll employment increased by 263K in September, economists expected a 248K increase from the previous month.

With strong economic data, the US Federal Reserve may continue to raise interest rates, putting pressure on the crypto market. The market is taking a breather, just as expectations for further US interest