Share this article
BTC
$77,773.52
-
2.27%ETH
$1,483.40
-
5.87%USDT
$0.9995
-
0.02%XRP
$1.8316
-
2.31%BNB
$555.90
-
0.69%USDC
$1.0000
+
0.00%SOL
$107.27
-
1.12%DOGE
$0.1473
-
2.40%TRX
$0.2291
-
2.09%ADA
$0.5766
-
1.57%LEO
$9.1412
+
1.84%TON
$3.0807
-
1.17%LINK
$11.47
-
1.68%AVAX
$16.82
-
1.42%XLM
$0.2236
-
2.53%HBAR
$0.1550
-
1.17%SHIB
$0.0₄1106
-
2.85%SUI
$1.9904
-
2.05%OM
$6.2547
-
0.52%BCH
$275.63
-
0.60%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
First Mover Americas: Once-Bouncing Bitcoin Now Just Rolls Like Ball
The latest price moves in crypto markets in context for Oct. 11, 2022.
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) and ether (ETH) both started the day trading down on Tuesday, with traditional markets still in the lurch.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The CoinDesk Market Index slipped 0.7% over the past 24 hours. Bitcoin lost 1.5%, hovering just above the $19,000 mark, and ether fell 2.3%. Stock futures fell and bonds sold off. European shares declined for a fifth straight day.
Altcoins took a larger hit, with ethereum classic (ETC) down 8.5%, NEAR down by 8% and XRP by 6%.
Crypto funds saw outflows totaling $5 million last week, fueled by sizable redemption from “short” investment products, or those designed to profit from price declines, according to data from CoinShares.
Bitcoin witnessed a fourth consecutive week of inflows totaling $12 million, while short-bitcoin investment products saw outlaws totaling a record $15 million.
CoinDesk Market Index
Biggest Gainers
Asset Ticker Returns DACS Sector Injective INJ +7.43% DeFi Ribbon Finance RBN +4.36% DeFi Celsius CEL +4.09% Currency
Biggest Losers
Asset Ticker Returns DACS Sector Request REQ -6.25% Currency LCX LCX -5.07% Currency Stellar XLM -4.99% Currency
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.
Chart of the Day
Bitcoin Bouncing Ball
By Omkar Godbole
- Bitcoin's price structure resembles the path of a dropped ball that bounced off the floor.
- The ball is losing energy with every bounce from price support (around $18K) and could soon fizzle into a flat forward roll.
- The longer the flat forward roll continues, the bigger the risk of gravity eventually taking a toll as it did in November 2018.
Lyllah Ledesma
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds a master's degree from New York University in Business and Economics and an undergraduate degree in Political Science from the University of East Anglia. Lyllah holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
