Crypto markets today: Bitcoin holds near $63k as volatility eases
13:00, 26 October 2021
Bitcoin moved in a range near $63,000 (£45,650) on Tuesday, paring its declines from an all-time high reached last week, as traders awaited fresh cues on market direction.
The oldest cryptocurrency has pulled back by more than 6% from a record of almost $67,000 on 20 October, which was reached amid market optimism that demand would see a boost following the launch of the first US exchange-traded fund for the digital token. A measure of historical volatility in bitcoin declined to the lowest level in more than a month.
The whole crypto market gained 1.2% over the last 24 hours and its total capitalisation now stands at $2.63trn. Market sentiment remains upbeat, with positioning data in the top five cryptocurrencies from capital.com showing as much as 92% of the trades were bullish.
Shiba Inu rallied to a new all-time high of around $0.0000485 on Tuesday afternoon, rebounding from a slump earlier this week that came after Elon Musk tweeted that he had no holdings in the digital token.
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Chart of the day: Bitcoin volatility eases
Bitcoin historical volatility chart – Credit: TradingViewQuote of the day:
Top 5 cryptocurrencies
- Bitcoin appears to have stabilized after reaching a record high last week and then suffering a subsequent slump; the biggest cryptocurrency was down 0.32 % in the last 24 hours to $62,836
- Ethereum gained 1.65 % in the same period to $4,209.83. However, its seven-day gain of 10.27 % is the biggest one among the top five cryptocurrencies
- Binance Coin was trading at $486.32 around noon in London on Tuesday, a daily gain of 0.4%
- Cardano added more than 1%, reaching $2.17
- Tether remained flat, adding 0.2 % gains and trading at $1.00 Tuesday morning
Key gainers
- The 11th biggest cryptocurrency by market cap, Shiba Inu, shot to a new record high of $0.00004654 Tuesday mid-morning.
- Solana saw the biggest weekly gains among the top 10 cryptos: it was up 32.59 % week-on-week - well ahead of Dogecoin's (9th biggest cryptocurrency) weekly gain of 10.79%
- miniSHIB topped the table of the biggest crypto gainers over the last 24 hours, after Shiba Inu's off-springs skyrocketed 1566.51% to $0.006335
Key losers
- Litecoin was down 0.48% at $194.97
- Solana retreated 0.39% over the last 24 hours, after hitting its all-time high yesterday
- A coin Solum was the biggest crypto loser over the last 24 hours after plunging 97.39% to $0.003561
More crypto news:
- The U.S. Treasury Department is set to task the Wall Street’s main market regulator, Securities and Exchange Commission, with regulating stablecoins, Bloomberg reports.
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