Bitcoin\u2019s price moves took traders on a rollercoaster ride on Tuesday, as it surged to a nearly three-month high of $67,950 before dipping back to the $65,000 range and then rebounding to over $67K. This rollercoaster move still leaves BTC up 9% over the past week. Analysts, including Standard Chartered’s Geoff Kendrick, point to political factors like the growing momentum of Donald Trump\u2019s presidential campaign as a possible driver of the recent rally. Polymarket now gives Trump a 58% chance of winning, his highest odds since Joe Biden exited the race.<\/p>\n\n\n\n
Ether (ETH), meanwhile, saw a 10% surge between October 10 and 15, climbing to a two-week high of $2,688. Despite this, ETH remains 25% down over the last three months, weighed by lukewarm interest in the recently launched spot Ether ETFs and sluggish demand for Ethereum despite its focus on Layer-2 scaling. The Ethereum network also saw a 23% drop in decentralized application (DApp) volume over the past week, sparking concerns that ETH’s price could soon face downward pressure.<\/p>\n\n\n\n
In other news, wallets tied to Elon Musk\u2019s Tesla moved $760 million worth of Bitcoin to unknown wallets, raising questions as the company remains the fourth-largest BTC holder among public firms.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin\u2019s price moves took traders on a rollercoaster ride on Tuesday, as it surged to a nearly three-month high of $67,950 before dipping back to the $65,000 range and then rebounding to over $67K. This rollercoaster move still leaves BTC up 9% over the past week. Analysts, including Standard Chartered’s Geoff Kendrick, point to political […]<\/p>\n","protected":false},"author":93,"featured_media":40342,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14714],"tags":[6467,6602,6536],"class_list":["post-42766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-crypto","tag-market-update","tag-news"],"acf":{"key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment\/financial advice from CoinSwitch. Any action taken upon the information shall be at the user\u2019s risk."},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/42766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/93"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=42766"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/42766\/revisions"}],"predecessor-version":[{"id":42769,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/42766\/revisions\/42769"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/40342"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=42766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=42766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=42766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}