- Bitcoin remained stable on the day, trading above $67,000 on Tuesday.
- Ethereum and XRP corrected by nearly 2% on the day.
- The US presidential election could affect the prices of Bitcoin and altcoins, according to experts.
Bitcoin, Ethereum, XRP updates
- Bitcoin was trading at $67,184 early Tuesday. The largest cryptocurrency by market capitalization has held steady above the $67,000 level as traders speculate on the outcome of the US presidential election.
- Ethereum fell 1.57% on the day to trade at $2,624. The Ether ETF recorded net outflows of $20.8 million, according to data from Farside Investors.
- XRP traded at $0.5327, erasing 2.26% on the day.
Chart of the day: Dogecoin (DOGE)
Dogecoin broke out of the downtrend on September 13th. Since then, the crypto ecosystem's largest meme coin has rallied towards its October 21 peak at $0.14975, as seen in the DOGE/USDT chart below.
DOGE could lose 6% of its value and wipe out liquidity at the lower end of the fair value gap (FVG) of $0.13100.
The Relative Strength Index (RSI), which measures momentum, is just barely out of “overbought” territory. When the RSI crosses the 70 mark, it usually generates a sell signal for that asset.
DOGE/USDT daily chart
Dogecoin could find support at the 200-day exponential moving average (EMA) of $0.11765 if there is a correction in memecoin.
Market Latest Information
- Analysts at crypto asset management firm QCP Capital said in a recent tweet on X that Bitcoin is trending bullish despite being 8% off its all-time high of $73,777.
Asian Color – 24 October 22
1/ The market is preparing for volatility #election: meanwhile #BTC The S&P 500 is hedging against a potential 1.8% post-election swing, as it trades 8% below its peak but leans toward bullish calls.
— QCP (@QCPgroup) October 22, 2024
- Shiba Inu, the second largest meme coin in cryptocurrency, has announced an airdrop of 10 million Phil tokens (PHIL) for SHIB holders. Users who participate in airdrops have the potential to earn double rewards.
- Upbit, one of the largest cryptocurrency exchanges in South Korea, announced on October 22nd that it will list Uniswap (UNI) on the Korean Won (KRW) and USD Tether (USDT) markets. The exchange previously listed DeFi tokens on the Bitcoin market.
Industry updates
- The Bitcoin Spot ETF recorded net inflows totaling $294 million for the seventh consecutive day on Monday, October 21st. This indicator shows that institutional demand for BTC is returning.
- The official address of ApeCoin (APE) has moved 8.289 million tokens to the over-the-counter (OTC) desk of market maker Wintermute. The value of the token is over $12 million.
- Ripple co-founder Chris Larsen said on Monday that he donated $10 million in XRP to Vice President Kamala Harris' presidential campaign.
The outcome of the US presidential election could determine the future of cryptocurrencies
