The past 24 hours has been about green and red in the crypto as volatility keeps playing out and serious price fluctuations.

Bitcoin has tapped $63,000 for the first time since April in wake of the expected Bitcoin Futures ETF launch in the US while altcoins have seen minor losses. Binance coin is the only distinctive performer as it closes in on $500.

Bitcoin taps $63,000 amidst ETF launch

The entire crypto space has been buzzing with reports of if or if not the United States would eventually have its own Bitcoin ETF. It was rife in the media last week that the product would certainly launch. On Monday, it was said that ProShares’ BTC Futures ETF will launch today – October 19th.


All the reports resulted in enhanced volatility for Bitcoin which was below $60,000 last week before it shot up to above $60,000 and even neared $63,000 on Tuesday. At press time, Bitcoin has retraced by $1,000, however, with the ETF still a hot topic, more swings to its price level are expected.

Bitcoin’s market capitalization has neared $1.2 trillion, while the dominance over the alts is just over 47%.

Altcoins market mixed as BNB taps $500

Binance Coin is having its gain day in the market as it edges closer to $500. The coin has also ousted Tether from number three to be the third-largest coin in the crypto market once again.

However, most altcoins have failed to produce significant gains as Bitcoin continues to widen its dominance over them. Ethereum went above $3,900 a few days ago but was unable to stay there. A 1.2% drop since yesterday has driven the second-largest crypto below $3,800. Cardano, Ripple, Solana, Polkadot, Terra, and Uniswap are also slightly in the red.

Dogecoin, Litecoin, and Avalanche have registered minor gains. Binance Coin has added 4% of value in a day and has tapped $490 for the first time in weeks.

Crypto market overview in the past 24 hours. Source; QuantifyCrypto

Aside from OKB and Fantom, which have tapped double-digit increases, most of the lower- and mid-cap altcoins have also failed to surge higher.

The cryptocurrency market cap went above $2.5 trillion and came just inches away from a new ATH but was unable to do so in the past 24 hours.