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BTC weekly line breaks through for a surge, altcoins plummet, U.S. stocks fall, with Nvidia leading the decline

BTC weekly line breaks through for a surge, altcoins plummet, U.S. stocks fall, with Nvidia leading the decline

Bitget2024/10/16 02:14

I. Market Dynamics

1. BTC weekly line breaks through, rising sharply. Altcoins plummet, with previously strong coins leading the drop.

2. U.S stocks fall, led by Nvidia.

II. Market Focus

1. AI concept MEMEs such as TURBO and GOAT are on the rise, with GOAT reaching a new high market value of 200 million USD; many imitation boards of AI concept MEME have appeared in the market. More importantly, American citizens can issue coins via AI to bypass regulatory supervision.

2. ENA's stablecoin business is expanding from ETH chain to SOL chain.

3. The small coin KEY is on the rise after merging with SINGULARITY and COGNITO to work on AI's L2 layer - similar to previous FET three-coin merger but carries higher risk.

4. On-chain MEME coin DEEP surged threefold; DEEP is a DeFi trade aggregator for SUI chain that is still under testing phase.
   
5.Previously strong coins like TAO, SUI, SAGA and SPX lead the decline; there’s an account holding 1 billion USD worth of SUI continuously selling off its holdings – likely being done by official representatives from SUI.

3

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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