Bitcoin Price and Ethereum Trade Sideways, Casper Price Storms 27%
Early on October 22, major cryptocurrencies were trading slightly positive, with the global crypto market cap at $918 billion, up less than 1% from the previous day. The entire cryptocurrency market volume in the last 24 hours was $53 billion, a 21% increase.
Bitcoin, the leading cryptocurrency, is consolidating near $19,145, up less than 1% during the Asian session. BTC has formed a tweezers' top pattern, followed by an uptrend; typically, it indicates the chances of a bearish trend.
Similarly, Ethereum has remained stable under a strong resistance level of $1,300, rising by less than 1%. In contrast, market risk sentiment remains risk-off amid expectations of a Fed rate hike.
The top performers in the Asian session were Klaytn (KLAY), Chiliz (CHZ), and Casper (CSPR). The Klaytn (KLAY) gained 8% to $0.14, while the price of CHZ has risen by over 6% to $0.18. Moreover, the CSPR price rose over 5% to $0.045.
The Chain (XCN) price has fallen by more than 7% in the last 24 hours to $0.06. The price of Elrond has dropped more than 5% to around $54.
The market remains risk-averse, with investors choosing safe-haven assets such as gold and the US dollar.
The fear and greed index in the market indicates "Extreme Fear," which could be one of the reasons for the overall cryptocurrency market slowdown.
Investors think "Extreme Fear" is a good moment to get into the market because many cryptocurrencies are currently oversold, making it a potentially profitable opportunity to go long on an oversold coin.
The current Bitcoin price is $19,154, and the 24-hour trading volume is $31 billion. Bitcoin has increased by less than 0.50% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $367billion.
Bitcoin is the
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