Crypto Fundraising Don Reach $3.5B Before Bitcoin Crash 13.7%
Crypto fundraising reach record $3.5 billion for 28 rounds for di week wey end for October 8, na because of 12 blockchain services deals and six CeFi investments. Pantera Capital lead dem with four funding rounds, while Coinbase Ventures still dey carry di yearly lead with 73 investments. Di sharp increase happen wen Bitcoin hit $126,000 on October 6 before U.S. tariffs on China cause 13.7% sell-off, wey cause BTC drop to $105,000 and dem liquidate almost $20 billion. Even with di wahala of market, strong crypto fundraising dey show say long-term growth potential dey for blockchain services and DeFi. Traders suppose dey watch how sector dey get funds and manage risk as Bitcoin price still dey swing.
Bearish
For short term, di 13.7% Bitcoin sell-off plus almost $20 billion liquidation dey cause immediate bearish pressure, wey dey push up volatility and risk aversion. Even though record crypto fundraising show long-term confidence for blockchain services and DeFi, sharp price drop from $126,000 go $105,000 fit dampen trader mind and make dem dey more cautious. Overall, the net effect for Bitcoin price na bearish, as the crash big pass the fundraising optimism for market impact.