Cryptocurrency Market Analysis: Bitcoin and Altcoins Face Downward Pressure Amid Economic Uncertainty

The cryptocurrency market continues to face headwinds as Bitcoin, Ethereum, and most major altcoins trend downward, challenging optimistic forecasts for October’s traditional bullish performance. Bitcoin’s failure to maintain momentum has dragged Ethereum, BNB, XRP, Solana, Dogecoin, Cardano, HyperVerse Token, Chainlink, and Stellar Lumens toward fresh support levels. Market analysts are closely monitoring next week’s U.S. economic calendar, which includes critical inflation data and Federal Reserve policy signals that could determine the market’s near-term direction. The current correction reflects broader macroeconomic concerns, with traders exercising caution amid tightening monetary policy expectations. Technical indicators suggest several digital assets are testing crucial support zones, with a break below current levels potentially triggering further declines. Market participants await clearer signals from both technical patterns and fundamental economic developments before committing to new positions. The coming week’s economic releases may provide the catalyst needed to either reverse the current bearish sentiment or confirm the continuation of the downward trend across major cryptocurrency pairs.