Bitcoin, the largest by market value, rose by over 10% at one point, but then fell back to below $30000. As of the time of publication, Bitcoin's quotation was $28434, still reaching its highest point in nearly two months
Bitcoin, the largest by market value, rose by over 10% at one point, but then fell back to below $30000. As of the time of publication, Bitcoin's quotation was $28434, still reaching its highest point in nearly two months. Meanwhile, Ethereum, the second largest by market value, rose nearly 2% to break through $1580, reaching a new high in a week.
Bitcoin prices experienced a 10% surge at one point, breaking through the $30000 barrier, and then quickly retreated in subsequent trading, but rose again in the end of the day.
According to COIN data, over 40000 people have sold out in the past 24 hours, resulting in the evaporation of over 1.8 billion yuan of funds.
According to a report by China News Agency, Bitcoin has encountered a misinformation incident on the news page. On October 16th, social media reported that the US Securities and Exchange Commission (SEC) had approved BlackRock's spot Bitcoin ETF application, causing Bitcoin prices to soar to nearly $30000. However, according to a report by the Wall Street Journal, BlackRock stated that they have not yet made a decision on the ETF application. Its spokesperson clearly stated that "the iShares spot Bitcoin ETF application is still under review by the Securities and Exchange Commission (SEC)." The latest news indicates that FOX Business journalist Eleanor Terrett confirmed that Cointelgraph's initial report was untrue.
Last week, Bitcoin experienced a gradual decline, falling 4.3%, marking its worst performance since August 18th and the first weekly decline in six weeks.
According to media reports, Federal Reserve official Huck stated that the Fed should not consider further interest rate hikes at present. Huck believes that only in the event of a shift in economic data should the Federal Reserve maintain its current interest rate level, and the possibility of further interest rate hikes has decreased. He predicts that inflation will weaken.
At this point, the market is waiting for Federal Reserve Chairman Powell's speech this week, as well as US real estate and retail sales data. In addition, some well-known large enterprises, such as Johnson&Johnson, Bank of America, Netflix, and Tesla, will release their financial reports, which may trigger optimism and risk appetite in the market.
The issue of inflation remains the focus of market attention, which has pushed up the yield of European Z-bonds. European Central Bank President Lagarde has stated that he is paying attention to the inflationary risks posed by the new round of Palestinian-Israeli conflict on oil prices. On the weekend, hawkish vote commissioners and Bundesbank Governor Negl stated that inflation is still too high and monetary policy needs to maintain restrictions on the economy.
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