Shiba

Cardano

Bitcoin

Flare

The crypto markets faced a massive setback at the beginning of the month as global factors influenced the cryptos and the traditional financial markets. The growing fear of war between Israel &amp; Iran is said to disrupt many things. This is impacting the markets as Bitcoin is slowly losing local support every day, and with the latest pullback, a drop below $60,000 is largely expected.&nbsp;   
What’s next for the crypto markets? When will the tokens begin to recover? After the bearish September was flipped, will the bullish October also be flipped?   
The rejection of $66,000 has raised suspicion that the BTC price will remain stuck within a descending parallel channel with support close to $53,000. Unless and until the price breaks above the resistance at $68,000, the fear of testing the support looms over Bitcoin. Now the price has rebounded from the average bands of the channel but a drop below $60,300 may validate a bearish move towards the support.&nbsp;   
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A similar drop is observed with the Ethereum price rally as the token failed to sustain above $2600 but has been defending the ascending trend line, which has been strong support since June 2022. The ETH price is required to surpass $2682 and this move will validate the beginning of a fresh bullish spell.&nbsp;   
Besides, cryptos like Solana, Dogecoin, Toncoin, Cardano Avalanche, Shiba Inu, etc. and a few more witnessed a price drop between 2% and 5%, while Tron is trying hard to keep up a bullish trend with a +0.13% price surge. Interestingly, the Flare token (FLR) has emerged as the leader among the top gainers, gaining more than a 16.5% jump, while the XRP token is facing a pullback of over 10% since the start of the day.&nbsp;   
The Global crypto market cap has dropped by over 1.35%, while the 24-hour trading volume has also plunged over 20% in the past 24 hours. Meanwhile, Bitcoin dominance continues to surge by over 0.57, which stands at around 56.82%. The current market dynamics are in favour of the bears and hence the top tokens are believed to maintain a consolidated descending trend for a few more days.&nbsp;

Crypto Market News for Today: BTC Heads to $60K, Altcoins Consolidate While FLR Price Surges

CoinPedia News

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