Bitcoin Price Today October 12 Latest Updates: Bitcoin continues to showcase sluggish worth motion as market uncertainty saps any enthusiasm. Bitcoin surged by 0.42% within the final 24 hours and 0.1% within the final hour. Despite the surge, Bitcoin is down over 5% within the final 7 days. It continues to be caught within the $19K-$20K vary and is at the moment buying and selling at $19,100.
The altcoin market can also be following in BTC’s footsteps. Despite a small rally, Ethereum is unable to interrupt the $1,300 mark. It has surged near 1.41% within the final 24 hours and is buying and selling at $1292. While BTC & ETH have been within the inexperienced, Cardano and Solana proceed to stay within the pink. Cardano fell by 0.92% within the final 24 hours and is buying and selling at $0.3933. Meanwhile, Solana fell by 0.49% and is buying and selling at $31.28.
Meme cash have been the largest winner of yesterday’s worth actions. Dogecoin surged near 2.5% within the final 24 hours and is priced at $0.06045. Meanwhile, Shiba Inu surged near 0.83% and is buying and selling at $0.0000103.
On the opposite hand, Uniswap was one of many greatest losers within the crypto market yesterday. It slid by over 3% previously day and is buying and selling at $6.12.
What Is Driving Bitcoin Price Today?
Market uncertainty continues to stay the largest impediment for Bitcoin. The hawkish stance of central banks continues to be dictating worth actions. There isn’t any indication that the Federal Reserve will pivot from its stance of quantitative tightening. Instead, Cleveland Fed President Loretta Mester acknowledged yesterday that the largest coverage danger would be the Fed pivoting too shortly.
Despite the sluggish motion, BTC continues to garner help from notable individuals. Paul Tudor Jones, the billionaire dealer, acknowledged that Bitcoin might be at a a lot greater worth in a while. Will Clemente, the co-founder of Reflexivity Research and main influencer, acknowledged that Bitcoin is a debasement hedge and can develop in worth as market instability rises.
Key Events To Watch
The US Bureau of Labor Statistics will launch the Consumer Price Index for September tomorrow. It might be an important occasion in deciding Bitcoin’s speedy future.
The introduced content material could embody the non-public 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 duty in your private monetary loss.
