The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 17, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Read MoreCoinDesk
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.
Bitcoin (BTC) was up slightly on the day after trading between $19,300 and $19,900 over the weekend. Ether (ETH) gained slightly more ground on Monday, trading up 3% at $1,322. The CoinDesk Market Index rose 0.8% over the past 24 hours.
In traditional markets, the British pound and U.K. bonds rallied as more of the Prime Minister Liz Truss’ unfunded tax cuts were reversed. U.S. stock futures jumped as investors awaited Bank of America’s earnings report, after four other major U.S. banks reported on Friday.
In the crypto market, the biggest gainer with a market capitalization of more than $1 billion was again Quant Network, whose token jumped 14% over the last 24 hours.
There was a sense of apathy among investors with minor inflows in digital-asset investment products last week of $12 million, according to data from CoinShares.
Bitcoin, the world’s largest cryptocurrency, saw inflows of $8.8 million, marking the fifth consecutive week of inflows.
Short-bitcoin investment products saw inflows of $6.7 million.
“This could be interpreted as marginally supportive were it for the resumption of inflows into short-bitcoin investment products of $6.7 million, implying a net neutral sentiment amongst investors,” the report stated.
Ethereum saw a second week of minor outflows at $3.9 million.
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.
Green Shoots Appear in ETH/BTC Chart
By Omkar Godbole
Technical signs are pointing upward for both bitcoin and ether.
Read more about
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
November 2024 will be remembered as one of the most significant months in Bitcoin's history.…
On-chain data shows the unrealized gains of the 30-day Bitcoin investors are now back inside…
Worksport (WKSP), a tiny Nasdaq-listed maker of covers for pickup truck beds, has added its…
By Omkar Godbole (All times ET unless indicated otherwise) The wait is over. Bitcoin has…
The analyst who wrote this piece owns shares of MicroStrategy (MSTR) and Semler Scientific (SMLR).…
Bitcoin (BTC), Federal Reserve Chair Jerome Powell said yesterday, is not a competitor of the…