Bitcoin Tops $82,000 on October 19 as Crude Oil Retreat Revives Risk Appetite
On October 19, Bitcoin surpassed $82,000, increasing by 2.3% during early trading before stabilizing around $82,400 in Singapore, influenced by a decline in crude oil prices from a five-month peak. Ether experienced a 3.7% rise, while Solana surged over 4.6%, BNB exceeded $720, and XRP approached $1.30. Brent crude prices decreased by 2%, and S&P 500 futures advanced by 0.8%, with Nasdaq 100 futures up 1.3%. Damien Loh from Ericsenz Capital described this movement as a retracement following a week of risk aversion. Last week, US-listed spot Bitcoin ETFs recorded outflows of $228.6 million. Bitcoin continues to trade within the $80,000-85,000 range, facing resistance at $82,500-83,000. The global cryptocurrency market capitalization is approximately $2.74 trillion.
Key facts
- Bitcoin rose above $82,000 on October 19, up as much as 2.3% and near $82,400 at noon in Singapore
- Ether gained up to 3.7%, Solana more than 4.6%, BNB held above $720 and XRP traded near $1.30
- Brent crude fell as much as 2% from a five-month high but remained around $107 a barrel
- S&P 500 futures rose about 0.8% and Nasdaq 100 futures 1.3%
- US spot Bitcoin ETFs saw $228.6 million in net outflows last week after roughly $681 million the prior week
- Bitcoin failed to break the 86,000-87,000 resistance zone and stayed within the 80,000-85,000 range
- Global crypto market capitalization was about $2.74 trillion, with Bitcoin above 60%
- The Crypto Fear & Greed Index rose to 59 from 53, versus 69 a week earlier and 71 a month earlier
Entities
Artists
- Damien Loh
Institutions
- Ericsenz Capital
- CoinGecko
- Federal Reserve
- NFT Plazas
Locations
- Singapore
- Iran
- United States
- China