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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.

Bitcoin rallied to $19,600 a day after U.S. inflation data was released. (Getty Images)

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.

Chart of the Day

Crypto Volatility Meltdown Continues

By Omkar Godbole

The weekly chart shows a technical pattern similar to one seen before the bull revival of April 2019. (Source: TradingView)

First Mover Bitcoin Ether Markets Altcoins

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.