NewsletterCrypto Price Today Oct 18: Winners And Losers Of Surprise Rally
Crypto Price Today Oct 18 Latest Updates: The crypto market is struggling as the global economy continues to teeter from instability. However, the crypto market is showing surprising resilience. Bitcoin has rallied by over 1.5% in the last 24 hours and is currently trading at $19,589. Similarly, Ethereum has surged by 1.76% in the past day and is trading at $1332.
Binance Coin and XRP both have surged close to 1% in the last 24 hours and are trading at $274.19 and $0.4739 respectively. Solana prices surged by a significant 2.4% in the past day and are currently priced at $30.97.
Polygon ($MATIC) is one of the biggest winners of the crypto market. Polygon skyrocketed by 8% in the last 24 hours and is trading at $0.8716.
Meme coins also showed strength during the crypto rally. Dogecoin climbed 1.15% and is trading at $0.05984. On the other hand, Shiba Inu surged over 1% as well and is trading at $0.00001039.
Uniswap was another winner of the crypto market. $UNI prices increased by over 3% in the last 24 hours and are trading at $6.38. Similarly, Avalanche increased by 2.47% and is trading at $16.29.
$LEO was one of the biggest losers of yesterday’s crypto market. UNUS SED LEO fell by over 5% yesterday despite the strong crypto rally and is trading at $4.27. Quant, which was one of the winners of yesterday’s crypto market fell close to 7% in the last 24 hours.
Why Is Crypto Price Up Today
The macroeconomic conditions are driving the crypto price movement. The recent inflation data increased the fears of a prolonged quantitative tightening. The Federal Reserve has raised interest rates by 75 bps four consecutive times. After the latest Consumer Price Index, the likelihood of another mega hike is extremely likely.
However, the reversal of the UK mini-budget by new chancellor Jeremy Hunt has improved market sentiments. Similarly, data from the empire state manufacturing index continues to highlight weakness in the US economy. Experts believe that the Federal Reserve will be pivoting before long.
How Long Will The Rally Last
The crypto market rallied as sentiments improved. However, any sustained rally will depend upon a favorable Fed in the next FOMC meeting.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- What Next for XRP Price as Bitcoin Falls Below $83,000 Again?
- BONK Gets Major Boost as BitCapital Prepares to Launch Its First ETP on Swiss Exchange
- Bitcoin Price Will Rally to $200K After Crashing to $58K, Peter Brandt Predicts
- Michael Saylor’s Strategy Faces Removal From Nasdaq 100 Amid Crypto Market Crash
- Crypto Market Crash: $1B in Bitcoin, ETH, SOL & Top Altcoins Liquidated Ahead of Options Expiry
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
- Ethereum Price Hits Historical Liquidity Reset — Is a Bounce Coming?
- Solana Price Prediction: Key Indicators That Could Propel SOL Toward $200
- Zcash Price Outlook: What’s Next for ZEC After Surging 12%?
