Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
This article originally appeared in First Mover, CoinDeskâs daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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.
Ether (ETH) gained 6% on the day, while Quant Networkâs token surged 20%. The question is whether bitcoin and the rest of the crypto market can sustain Fridayâs 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.
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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.
Crypto Volatility Meltdown Continues
The weekly chart shows a technical pattern similar to one seen before the bull revival of April 2019. (Source: TradingView)
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk’s Markets team.
