Sign Up on MEXC
Bitcoin Price Today October 12 Latest Updates: Bitcoin continues to showcase sluggish price movement as market uncertainty saps any enthusiasm. Bitcoin surged by 0.42% in the last 24 hours and 0.1% in the last hour. Despite the surge, Bitcoin is down over 5% in the last 7 days. It is still stuck in the $19K-$20K range and is currently trading at $19,100.
The altcoin market is also following in BTC’s footsteps. Despite a small rally, Ethereum is unable to break the $1,300 mark. It has surged close to 1.41% in the last 24 hours and is trading at $1292. While BTC & ETH were in the green, Cardano and Solana continue to remain in the red. Cardano fell by 0.92% in the last 24 hours and is trading at $0.3933. Meanwhile, Solana fell by 0.49% and is trading at $31.28.
Meme coins were the biggest winner of yesterday’s price movements. Dogecoin surged close to 2.5% in the last 24 hours and is priced at $0.06045. Meanwhile, Shiba Inu surged close to 0.83% and is trading at $0.0000103.
On the other hand, Uniswap was one of the biggest losers in the crypto market yesterday. It slid by over 3% in the past day and is trading at $6.12.
What Is Driving Bitcoin Price Today?
Market uncertainty continues to remain the biggest obstacle for Bitcoin. The hawkish stance of central banks is still dictating price movements. There is no indication that the Federal Reserve will pivot from its stance of quantitative tightening. Instead, Cleveland Fed President Loretta Mester stated yesterday that the biggest policy risk will be the Fed pivoting too quickly.
Despite the sluggish movement, BTC continues to garner support from notable people. Paul Tudor Jones, the billionaire trader, stated that Bitcoin will be at a much higher value in some time. Will Clemente, the co-founder of Reflexivity Research and major influencer, stated that Bitcoin is a debasement hedge and will grow in value as market instability rises.
Key Events To Watch
The US Bureau of Labor Statistics will release the Consumer Price Index for September tomorrow. It will be the most important event in deciding Bitcoin’s immediate future.
- SEC Delays Decision On Staking For BlackRock’s Ethereum ETF
- SEC Delays Franklin Templeton Solana ETF Decision Until November
- BNB Hits New ATH As Binance Partners With $1.6T Franklin Templeton
- Crypto Market, S&P 500 Rally as PPI Data Fuels Rate Cut Hopes
- Breaking: U.S. PPI Cools To 2.6%, BTC Price Rises
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
- Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?
