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Bitcoin Price Today October 12 Latest Updates: Bitcoin continues to showcase sluggish worth motion as market uncertainty saps any enthusiasm. Bitcoin surged by 0.42% within the final 24 hours and 0.1% within the final hour. Despite the surge, Bitcoin is down over 5% within the final 7 days. It continues to be caught within the $19K-$20K vary and is at present buying and selling at $19,100.

The altcoin market can be following in BTC’s footsteps. Despite a small rally, Ethereum is unable to interrupt the $1,300 mark. It has surged near 1.41% within the final 24 hours and is buying and selling at $1292. While BTC & ETH have been within the inexperienced, Cardano and Solana proceed to stay within the crimson. Cardano fell by 0.92% within the final 24 hours and is buying and selling at $0.3933. Meanwhile, Solana fell by 0.49% and is buying and selling at $31.28.

Meme cash have been the largest winner of yesterday’s worth actions. Dogecoin surged near 2.5% within the final 24 hours and is priced at $0.06045. Meanwhile, Shiba Inu surged near 0.83% and is buying and selling at $0.0000103.

On the opposite hand, Uniswap was one of many largest losers within the crypto market yesterday. It slid by over 3% up to now day and is buying and selling at $6.12.

What Is Driving Bitcoin Price Today?

Market uncertainty continues to stay the largest impediment for Bitcoin. The hawkish stance of central banks continues to be dictating worth actions. There isn’t any indication that the Federal Reserve will pivot from its stance of quantitative tightening. Instead, Cleveland Fed President Loretta Mester said yesterday that the largest coverage threat would be the Fed pivoting too shortly.

Despite the sluggish motion, BTC continues to garner assist from notable individuals. Paul Tudor Jones, the billionaire dealer, said that Bitcoin will probably be at a a lot increased worth in a while. Will Clemente, the co-founder of Reflexivity Research and main influencer, said that Bitcoin is a debasement hedge and can develop in worth as market instability rises.

Key Events To Watch

The US Bureau of Labor Statistics will launch the Consumer Price Index for September tomorrow. It will probably be a very powerful occasion in deciding Bitcoin’s quick future.

Nidhish is a expertise fanatic, whose goal is to seek out elegant technical options to unravel a few of society’s largest points. He is a agency believer of decentralization and needs to work on the mainstream adoption of Blockchain. He can be huge into nearly each widespread sports activities and likes to converse on all kinds of subjects.

The introduced content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.