ETC Has Elevated Downside Risks
Ethereum Classic (ETC) is down 10.1% this week to $17.90, underperforming Bitcoin (BTC), which has fallen 5.1% to $109,499. Pressure on crypto assets has intensified following $1.0 billion in forced liquidations on Thursday, while unexpectedly strong U.S. macroeconomic data has fuelled fears of a potential government shutdown. With time still remaining before the October 1 deadline, the market could see additional downside. ETC has already slipped below the $20.00 support level and may continue lower toward $15.00 unless sentiment improves sharply in the near term.
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