CoinLoan Weekly: BTC and ETH Hit New ATH

WeeklyOct 25, 2021
CoinLoan Weekly: BTC and ETH Hit New ATH

Price Dynamics

Bitcoin Price

Last week was a rollercoaster for BTC. The asset's price rose to $66,974 during the week. The price spike was significant, as Bitcoin breached its all-time high. Shortly after that, the price went through a correction, falling to $64,677.

BTC price chart. Source: TradingView
BTC price chart. Source: TradingView

BTC's all-week low was reached on October 24 – the coin fell below the $60k level and hit $59,901. As of October 25, the cryptocurrency is worth $62,679, meaning the asset gained 2.76% in the last 24 hours and 2.72% in seven days.

Meanwhile, according to CoinGecko, the total crypto market cap reached $2.76B on October 21 after ETH and BTC updated their all-time high prices.

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Ethereum Price

ETH followed a different price pattern during the last week, starting a week on a minor note at $3,764. In the first two days, the asset fluctuated between its all-week low of $3,726 and $3,862. On October 21, ETH started to rise significantly, reaching the coin's new all-time high – $4,361. Later that day, Ethereum's price corrected and fell to $4,046.

ETH price chart. Source: TradingView
ETH price chart. Source: TradingView

For the rest of the week, ETH's price fluctuated between $3,936 and $4,169. As of October 25, Ethereum is trading at $4,126, a 0.53% gain in the last 24 hours and a 9.18% gain in seven days.

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XRP Price

XRP had a more stable week, starting at $1.08 and fluctuating between $1.08 and $1.09 in the first two days of the week. On October 20, Ripple's price started to increase, reaching the asset's all-week high of $1.16 on the next day. However, it didn't last long. Soon after that, the price went through a correction, falling to $1.10.

XRP price chart. Source: TradingView
XRP price chart. Source: TradingView

From October 22 and till the end of the week, Ripple's price was between $1.11 and $1.06 – the latter became XRP's all-week low. As of October 25, XRP is worth $1.09, a 0.04% gain in the last 24 hours and a 0.37% gain in seven days.

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Cryptocurrency News

The First Bitcoin ETF Started Trading

In the middle of October, the BTC $60k price mark was possibly triggered by the SEC's possible approval of the Bitcoin ETF. Last week, the first Bitcoin ETF by ProShares started trading at the New York Stock Exchange, becoming the second-highest traded fund ever, according to Bloomberg.

Even though crypto analytics were divided regarding Bitcoin ETF's influence on crypto prices, BTC and ETH hit their new ATH anyway. We'll keep you updated on the matter, as it's likely to continue to affect the crypto market.

Stay tuned for the upcoming news and updates, CoinLoaners!


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Disclaimer:
The information provided by CoinLoan ("we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.

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