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Cryptocurrency Price Today Oct 15 Latest Updates: The cryptocurrency market is struggling closely as Bitcoin worth tanks. BTC fell shut to three.13% within the final 24 hours and is at present buying and selling at $19,198. Ethereum is performing no higher than Bitcoin as market volatility is tanking altcoins closely. Ethereum falls under the $1.3K mark and is at present buying and selling at $1299.

The remainder of the altcoins market can also be in a deep selloff as cryptocurrency worth falls. Binance coin falls near 2% within the final 24 hours and is buying and selling at $270.39. XRP fell shut to three% and is at present priced at $0.4878.

Cardano continues to be one of the unstable cryptocurrencies as its worth continues to tumble. ADA fell near 4.74% within the final 24 hours and is at present buying and selling at $0.3686. Solana continues to battle as costs fell shut to five.35% previously day. It is at present buying and selling at $30.13.

Meme cash additionally battle in opposition to market volatility. Both Dogecoin and Shiba Inu fell by 3% previously day and are buying and selling at $0.05886 and $0.00001023.

Why Is Cryptocurrency Price Down Today

The crypto market struggles as inflationary forces proceed to place downward stress on costs. The crypto market confirmed some power because the inventory market noticed a shock rally regardless of worse-than-expected inflation information. However, because the week progressed, the crypto market returned to normalcy.

The CPI index reveals that the Federal Reserve is just not successful its struggle in opposition to inflation. It highlighted worse-than-expected inflation ranges within the economic system. The Producer Price Index strengthened the narrative. Bad inflation data has made one other mega hike by the Federal Reserve nearly sure.

The CME Fed Watch Tool at present reveals a 97% chance of one other 75 bps hike. This will make it 5 consecutive 75 bps rate of interest hikes to curb inflation ranges. The market can also be pricing within the chance of a 100 bps hike.

Key Trends To Watch

The crypto market will eye recession information to be sure that the Fed doesn’t tip the economic system right into a recession. It can even watch the UK financial disaster with nice curiosity as it could result in world monetary instability.

Nidhish is a expertise fanatic, whose purpose is to search out elegant technical options to unravel a few of society’s greatest points. He is a agency believer of decentralization and desires to work on the mainstream adoption of Blockchain. He can also be large into nearly each common sports activities and likes to converse on all kinds of matters.

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