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

Lyllah Ledesma, Omkar Godbole - CoinDesk
2022-10-14 12:18
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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

AssetTickerReturnsDACS Sector
Ribbon FinanceRBN+6.52%DeFi
PAX GoldPAXG+0.2%DeFi

Biggest Losers

AssetTickerReturnsDACS Sector
STEPNGMT-13.61%Culture & Entertainment
ChilizCHZ-11.87%Culture & Entertainment
Kyber Network CrystalKNC-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)
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