Bitcoin rose in Friday evening trading in Asia to jump past its US$19,000 support line, with Ether and all other top 10 cryptocurrencies by market capitalization gaining, led by XRP.
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- Bitcoin gained 3.33% in the past 24 hours to trade at US$19,647 at 4 p.m. in Hong Kong, having earlier dropped 3% following Thursday’s CPI report showing that U.S. inflation rose more than expected in September. Ether gained 3.42% to US$1,321, according to data from CoinMarketCap.
- All top 10 cryptocurrencies, excluding stablecoins, gained ground. Cardano rose 5.44% to US$0.38, while Solana added 5.32% to US$31.35. Tron rose 2.55% to change hands US$0.062, overtaking Shiba Inu into the top 10 tokens.
- XRP led gains, jumping 9.29% to US$0.50 and leaving it up 1.83% for the previous seven days, the only top 10 crypto positive in that period.
- Asia equity markets closed higher following Wall Street’s rollercoaster on Thursday. U.S. equity markets fell when the CPI report showed prices in the U.S. in September were 8.2% higher from the same month a year ago, which beat the 8.1% expected in surveys of economists.
- But U.S. markets later rebounded to end higher, giving a bounce to Asia equities on Friday. Japan’s Nikkei 225 jumped 3.25%. The Hong Kong Hang Seng Index gained 1.25%, while the Shanghai Composite Index closed 1.84% higher.
- Markets in Europe on Friday gained, with the pan-European Stoxx 600 rising 1.7% in Friday morning trade amid widespread expectations of a UK government U-turn on its divisive fiscal policies. Chancellor Kwasi Kwartang, having returned home early from the IMF in Washington, is expected to drop the US$48.6 billion tax cuts section of the government’s “mini-budget.”
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