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First Mover Americas: Bitcoin Rebounds to $19.6K, Ether Up 6%
The latest price moves in crypto markets in context for Oct. 14, 2022.
Updated Apr 9, 2024, 11:17 p.m. Published Oct 14, 2022, 12:18 p.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.
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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.
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Bitcoin drifts lower as $81.3k emerges as the market’s key fault line: Asia Morning Briefing
With large caps still tracking bitcoin and high-beta assets already weakened, Glassnode’s True Market Mean has become the line investors are watching most closely.
What to know:
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