Price Analysis 10/14: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC
Buyers failed to build on strong October 13 rally, indicating higher levels continue to hold attract sales in US stock markets and Bitcoin.
Price analysis
The U.S. consumer price index (CPI) rose 8.2% year on year in September, beating economists' expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp but short-term rise in volatile risk assets.
The S&P 500 hovered in its widest trading range since 2020 and Bitcoin (BTC) also saw a wide intraday range above $1,323 on October 13. However, Bitcoin still couldn't break out of the $18,125-$20,500 range that it has been in for several days.
Daily performance of the cryptocurrency market. Source: Coin360US stock markets and Bitcoin attempted to extend their recovery on October 14, but higher levels attracted selling, indicating that the bears haven't given up yet.
Could the increased volatility peak with an upside breakout or trigger the next leg of the downtrend?
Let's get started...
Buyers failed to build on strong October 13 rally, indicating higher levels continue to hold attract sales in US stock markets and Bitcoin.
Price analysis
The U.S. consumer price index (CPI) rose 8.2% year on year in September, beating economists' expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp but short-term rise in volatile risk assets.
The S&P 500 hovered in its widest trading range since 2020 and Bitcoin (BTC) also saw a wide intraday range above $1,323 on October 13. However, Bitcoin still couldn't break out of the $18,125-$20,500 range that it has been in for several days.
Daily performance of the cryptocurrency market. Source: Coin360US stock markets and Bitcoin attempted to extend their recovery on October 14, but higher levels attracted selling, indicating that the bears haven't given up yet.
Could the increased volatility peak with an upside breakout or trigger the next leg of the downtrend?
Let's get started...
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