Bitcoin and Ethereum Price Prediction – Is BTC About to Surge 100% This Month?
On October 25, the Bitcoin price showed a slight bearish correction after getting rejected at the $19,700 resistance mark. In contrast, Ethereum is consolidating in a narrow trading range of $1,335 to $1,360.
Major cryptocurrencies were trading sideways, maintaining narrow trading ranges, with a global crypto market cap of $931 billion and a trading volume of $513 billion. Let's take a look at the top winners and losers so far today.
The top performers in the Asian session were Klaytn (KLAY), Axie Infinity (AXS), and Toncoin (TON). Klaytn (KLAY) is up more than 11% to $0.20, while AXS is up nearly 6% to $9.20. At the same time, TON has surged more than 5% to trade at $1.49 in the last 24 hours.
In the last 24 hours, the price of The Trust Wallet Token (TWT) has plunged more than 5% to $1.04. The price of Aave (AAVE) has dropped more than 4% to around $83.
For the most part of this year, bitcoin has moved in lockstep with the stock market. However, risky asset prices have fallen since the Federal Reserve tightened monetary conditions as part of a strategy to combat skyrocketing inflation.
According to research released this week by cryptocurrency data provider Kaiko, Bitcoin's 20-day realized volatility, a measure of daily price fluctuations, has fallen below the levels of both the Nasdaq and the S&P 500 for the first time in two years.
Bitcoin has been less volatile than the Nasdaq for the first time since October 2020. Furthermore, the correlation between bitcoin and stocks has reached an all-time low. The strong correlation has recently weakened, and experts in digital assets are speculating that cryptocurrencies may be decoupling from stocks. Furthermore, due to decoupling, BTC did not rise as much as stocks did last
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