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First Mover Americas: Bitcoin Rebounds to $19.6K, Ether Up 6%

Analytics

www.coindesk.com 14 October 2022 12:51, UTC
  
Reading time: ~2 m

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Price Point

Bitcoin (BTC) has gained ground since dropping to $18,100 Thursday after the Consumer Price Index (CPI) data was released. The cryptocurrency was recently trading at around $19,600, up just over 5% on the day.

Ether (ETH) gained 6% on the day, while Quant Network’s token surged 20%. The question is whether bitcoin and the rest of the crypto market can sustain Friday’s rebound.

As investors awaited earnings reports from major banks Citigroup, Morgan Stanley and JPMorgan Chase, U.S. equity futures wavered. Stocks turned sharply higher Thursday, after major indexes spent most of the morning deep in negative territory.

CoinDesk Market Index

Biggest Gainers

Asset Ticker Returns DACS Sector
Ribbon Finance RBN +6.52% DeFi
Chain XCN +3.42% Currency
PAX Gold PAXG +0.2% DeFi

Biggest Losers

Asset Ticker Returns DACS Sector
STEPN GMT -13.61% Culture & Entertainment
Chiliz CHZ -11.87% Culture & Entertainment
Kyber Network Crystal KNC -11.82% DeFi

Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.

Chart of the Day

Crypto Volatility Meltdown Continues

By Omkar Godbole

The weekly chart shows a technical pattern similar to one seen before the bull revival of April 2019. (Source: TradingView)


   Source
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