News
oi-Kuntala Sarkar
Internationally, cryptocurrencies are mostly going through a tough time this quarter, however, the current trading week is only showing some silver lining to the asset. On October 31, Bitcoin gained to around US$ 20,398.30, down by 1.13%. However, in the past 1 month it has gained by 4.86%, and dropped by 45.84% in the last 6 months. Yesterday, Bitcoin closed at US$ 20,631.40.
Inflation remains historically high in the USA, hence the US central bank, the Federal Reserve is expected to hike the interest rate again by 75 bps in the next FOMC policy meeting. On November 2, the Fed will declare its next monetary policy, markets are getting prepared for it, keeping the markets volatile.
Reflecting the same trend, Ethereum was quoted at US$ 1,564.80, down by 1.64%. Yesterday, Ethereum closed at US$ 1,556.60. Litecoin was quoted at US$ 54.46, down by 1.68%, Dogecoin was quoted at US$ 0.1259 up by 6.97%, and Cardano was quoted at US$ 0.4043 down 0.26% today, till last traded.
Meanwhile, ahead of the US Fed meeting, the US 2-year Treasury bond yield gained to around 4.487%, and the US 10-year Treasury yield was quoted at around 4.052%. Additionally, the US Dollar index quoted at 111.54, up by 0.71% today. Additionally, S&P 500 was down by 0.45%, stood at 3,883.37 points, and Nasdaq Composite was up by 0.64%, stood at 11,031.20, till last traded.
