Crypto Price Today 9th Oct: Crypto Market Painted In Green

Crypto Price Today 9th Oct: the crypto markets try to offset offset yesterday’s loss as the majority of coins are trading in the green today. Bitcoin, the world’s largest cryptocurrency currently trading at $195005 with an intraday gain of 0.45%

Whereas Ethereum, the smart contract giant, shows a 0.72% gain and currently exchanges hands at $1325.

Meanwhile, Solana(SOL) jumped 1.07%, Avalanche(AVAX) soared 0.76% and Cardano(ADA) experienced 0.20% gains.

Moreover, coinmarketcap ranked Quant(QNT) as a top gainer in the last 24 hours, registering a rise of 10.58%.

However, the XRP coin price remained in uncertainty, reflecting 0.04% negative change, and current;y trades at $0.517

Here’s How Coming Week May Influence The Crypto Market

Investors will eagerly await Thursday’s U.S. inflation numbers, which will further influence the interest rate hike by the Fed. So far, the crypto market has reacted significantly to the Federal Reserve’s campaign for tackling high inflation.

Even the recent U.S. unemployment data assurance that market condition is strong enough to withstand higher interest hikes. As a result, the potential 75 to 80 basis-point rate hike in November caused more panic in market sentiment.

Furthermore, Wednesday’s minutes from the Fed meeting will offer an official view of how inflation is shaping up and prospects for the interest rate in the future.

OPEC+’s recent announcement of its largest supply cut since 2020 also contributed to the turmoil in the world economy. Thus, the Oil price hike will cause a huge budget issue for borrowing countries and, eventually, market conditions.

Geopolitical events

The disturbing activities of the Russia-Ukraine war threaten the market for further downfall.

The Ukrainian city of Zaporizhzhia, which Russia claims to have annexed last month, has been subjected to repeated attacks in recent weeks. 

In a tweet, the Ukrainian defense ministry recently highlighted that 17 people had been killed by Russian missile strikes in the south-eastern city of Zaporizhzhia.

Another russian missile strike on the city of Zaporizhzhia. 17 civilians were killed.
If #UAarmy had modern Western anti-missile systems, we could have prevented such tragedies. pic.twitter.com/6mTHlFshF9

— Defense of Ukraine (@DefenceU) October 9, 2022