Market Overview
Bitcoin (BTC) has lost ~1.57% in the past 24h, trading around 109,229 USD. During the day, the price fluctuated between 111,647 and 107,538 USD. Last week, risk-off moves triggered by US-China trade tensions pushed Bitcoin down; as concerns eased, the market partially recovered, but volatility persists. ETH has dropped ~3.15% in the last 24h, trading near 3,905 USD, with intraday fluctuations between 4,048 and 3,846 USD. The Layer-2 ecosystem and ETF expectations are influencing the price. Overall, Bitcoin and Ethereum are holding support levels, but high volatility continues to impact short-term price movements.
Key Developments
Coinbase is acquiring crypto investment platform Echo in a $375 million deal.
Evernorth plans to list XRP, aiming to accumulate it through a strategy that raised over $1 billion in the US.
Investors expect a rate cut at the October 28-29 meeting; there is cautious optimism in the crypto market.
This October is showing the worst performance in the past 10 years; the market sentiment is not positive.