Cryptocurrency Price Today October 11 Latest Updates: The crypto market is in a significant rut as sentiments are turning extra detrimental. Bitcoin costs fell by 2% within the final 24 hours and by 3.25% within the final 7 days. BTC is at the moment buying and selling at $19,051 and is dangerously near falling under the $19K mark.
The largest altcoin additionally suffered an analogous destiny. Ethereum fell by 3.18% in the previous couple of hours and shut to five% within the final 7 days. It is buying and selling at $1280, effectively under the $1300 mark which it was holding on to.
The remainder of the altcoins market can be dealing with the brunt of those bearish sentiments. Binance Coin or BNB fell by over 2% within the final 24 hours and is buying and selling at $271. XRP, the winner of yesterday’s market, was seemingly the largest loser at this time.
XRP fell by over 7% in the previous couple of hours and is buying and selling at $0.4905. Similarly, Cardano fell by 5.67 % and Solana fell by over 3%. They are buying and selling at $0.3981 and $31.57 respectively.
The meme cash additionally noticed a powerful decline of their costs. Dogecoin is at the moment buying and selling at $0.05927 after falling by 5% on the final day. Similarly, Shiba Inu noticed an enormous slide in its worth. $SHIB fell by 6.32% within the final day and is buying and selling at $0.00001029.
Why Cryptocurrency Price Is Down Today
The financial coverage of central banks is driving the inventory market. The Federal Reserve’s quantitative tightening to curb inflation ranges is creating bearish sentiment available in the market. The crypto market is strongly correlated with the final broader market.
S&P 500 continued its slide to the underside. After falling shut to three% yesterday, it fell by one other 1% within the final 24 hours. Similarly, the tech-oriented NASDAQ 100 fell by one other 1%.
The US greenback additional strengthened its place after one other strong rally yesterday.
Key Events To Watch
The crypto market is fully dependent upon the macroeconomic environment. Therefore, the Consumer Price Index launched this week can have a big impact on any worth motion. Similarly, the Producer Price Index may even be launched this week.
The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
