• Inicio
• /
• Sala de prensa
• /
• Volatility in the Crypto Market

Volatility in the Crypto Market

Volatility in the crypto market has continued to take bearish form today. Leading cryptocurrencies Bitcoin, Ethereum, and Polygon, all saw significant drops in early trading today.

Bitcoin fell by 6.68 percent to trade at 56,788.86 dollars. Ethereum also fell by 6.60 percent and is currently trading at 4,041 dollars. Solana also declined by a sharp 11 percent and is presently priced at almost 195 dollars.

It appears much of this move is a continuation of what we’ve seen this week in terms of price action across most major cryptocurrencies Among the most prominent bearish catalysts is the move earlier this week from Chinese regulators to clamp down harder on Bitcoin mining. As a cryptocurrency that’s often used as a benchmark for the valuations of the sector, this Bitcoin-related news had ripple effects for most large-cap crypto tokens

The tone in crypto markets on Thursday contrasted starkly with the optimism seen in traditional markets, where the Standard & Poor’s 500 Index of large U.S. stocks rose to a new record. Tech stocks drove the gains, even as concerns grew among economists that inflation, now running at its highest clip in three decades, might force the Federal Reserve to accelerate interest-rate increases next year to keep the economy from running too hot.

Such monetary tightening might also be a negative for bitcoin because Fed rate increases theoretically would make risky assets – from stocks to cryptocurrencies – less attractive.

Remember traders, wherever there is volatility, there is an opportunity to trade!

Friday 19th November – High Impact Events

Times below are GMT+2

• 09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses.

• 10.00 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses.

• 15.30 – Canada – Core Retails Sales & Retail Sales m/m

Potential instruments to Trade: CAD Crosses.

• 17.45 – US – FOMC Member Waller Speaks

Potential instruments to Trade: USD Crosses.

• 19.15 – US – FOMC Member Clarida Speaks

Potential instruments to Trade: USD Crosses.

If you have any questions, please email our Education Centre.

Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

• Share with a Friend