Crypto market update: 17 October 2022

The crypto market moved as expected over the weekend, with some subdued activity. The top 10 cryptos displayed stability. The total crypto market capitalization is $916 billion currently.

The Crypto Fear and Greed Index, which measures the investor confidence, is currently at 20/100, in the Extreme Fear zone. That means a drop of four points over the last 24 hours.

Today, the risk-off sentiment is expected to continue to impact the crypto market. The market is unlikely to witness any major upward price movement. The possibility of a 75 basis points rate hike during the last two months of this year will continue to impact the crypto market as liquidity conditions tighten and investors place their bets on safer assets.

Top two coins

Bitcoin (BTC) failed to break above the immediate resistance level of $19,300 on Sunday, and even pulled back a little, but it largely managed to hold on to its place. However, it fell short of the $20K level for the ninth consecutive session.

With no crypto events to provide direction, BTC is likely to trade within the narrow range between $19,020 and $19,300.

Source: TradingView

Last week, Ether (ETH) failed to break above the key resistance level at $1,325. It has been losing strength since. However, the $1,280 level provided support, which enabled it to bounce back a little.

Again, with volumes slowing down, ETH is likely to trade within the narrow range between the $1, 280 and $1,325 levels.

Source: TradingView

Top 5 gainers in the last 24 hours

  • AirSwap (AST): 11.73%
  • Synthetix Network (SNX): 9.39%
  • Fetch.ai (FET): 5.59%
  • Waves (WAVES): 4.42%
  • DIA (DIA): 4.01%

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