The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 20, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Read MoreCoinDesk
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Ether (ETH) was down slightly on the day, at around $1,290. It is still up slightly on the week, however
Top gainers on the day were Elrond’s EGLD and Huobi’s HT token, both up 3%.
In traditional markets, European stocks fell while yields on U.K. government bonds rose. U.S. stock futures slipped. Tesla‘s shares dropped 5.4% in premarket trading after the electric-car maker reported third-quarter revenue that missed analysts’ expectations.
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.
Crypto Volatility Meltdown in Full Swing
By Omkar Godbole
Stocks have become more volatile than bitcoin for the first time since July 2021.
“This has only happened on four other occasions in bitcoin’s history, each time near a significant local bottom,” Noelle Acheson, author of the Crypto is Macro Now newsletter, said in a note to subscribers.
“Obviously, patterns don’t always repeat, but it is worth noting,” Acheson added.
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