[ad_1]
Data on Thursday showed that U.S. consumer prices rose slightly more than expected in September, while jobless claims increased to 258,000 in the week ended October 5, versus estimates of 230,000. All eyes are now on the PPI data due at 6:00 pm IST.
Markets currently see an 84.4% chance of a 25-basis-point rate reduction in November and a 15.6% probability of the Fed keeping rates on hold, according to CME’s FedWatch.
Crypto Tracker
As of 2:47 PM IST, Bitcoin was up 0.2%, trading at $60,898, while Ethereum gained 1.3% to $2,412.“Bitcoin is trading above $60,000 after dipping below $59,000 intra-day. While this suggests strong support at lower levels, a retest over the weekend is possible,” said Vikram Subburaj, CEO of Giottus.
He added, “Defending the $60,000 support level is critical for Bitcoin bulls to avoid a further decline towards the $58,000 zone.”Also Read: From skepticism to acceptance: How institutions are embracing cryptocurrencies
However, earlier in the day, Bitcoin also touched a low of $58,895. Among other major cryptocurrencies, Solana rose by 3%, XRP by 2.7%, Dogecoin by 2%, Toncoin by 3.2%, Cardano by 3.4%, Avalanche by 2.5%, and Shiba Inu by 0.6%. The global cryptocurrency market cap climbed by 0.33% to approximately $2.13 trillion over the past 24 hours.
Stablecoins accounted for $63.31 billion, or 91.56% of the total 24-hour crypto market volume, according to CoinMarketCap.
Bitcoin’s market cap rose to $1.2 trillion in the last 24 hours, while its dominance stood at around 56.41%. Bitcoin trading volume increased 8.8% to $30.14 billion.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)
[ad_2]
Source link