Bitcoin
Ondo rebounds 6.6% from lows amid broader altcoin weakness and ETF outflows
Technical analysis shows the ONDO token recovering from a recent low of $0.41 despite underperforming Bitcoin and facing overhead resistance.
Ondo rebounded 6.6% after touching a low of $0.41 on October 18, though it remained down 10% over the preceding week. The performance lagged Bitcoin, which recorded a milder 2.1% drawdown over the same weekly period, amid broader market pressure that saw total altcoin market capitalization decline nearly 8% from $1.13 trillion to $1.05 trillion.
The broader market pullback coincided with institutional capital outflows, as US spot Bitcoin ETFs registered net outflows of $228.4 million between October 12 and October 16. Technical indicators presented mixed signals, with the $0.425 level acting as a key supply zone from June to September and buyers attempting to defend the $0.43 area, while a daily close below $0.404 would invalidate the bullish market structure.
On lower timeframes, the 4-hour price structure remained under pressure following a drop below $0.422, with the Relative Strength Index holding below 50 for a week. While On-Balance Volume did not signal heavy distribution, momentum indicators suggested ongoing caution for the token pending clearer direction across the broader cryptocurrency market.
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