Crypto Price Today (Oct 16th, 2024): Bitcoin at $67k, as Tesla Transfers BTC

Global Market Overview: The cryptocurrency market is showing positive movement with a market cap of $2.31 trillion, up 0.88% in the last 24 hours. The Fear & Greed Index stands at 58, marking a neutral sentiment among investors, while 24-hour trading volumes have surged by nearly 18%. Successively, at press time Bitcoin price has risen above the $67k mark. However, major altcoins have faced corrections.

Bitcoin Price Up as Tesla Makes Moves? 

Bitcoin is again grabbing headlines, rising by 2.58% and holding at $67,096.03. This upward movement comes as Tesla transferred 11,509 BTC to new addresses, possibly representing its entire Bitcoin treasury. Tesla remains the third-largest Bitcoin holder among publicly traded companies, with SpaceX also estimated to hold around 8,285 BTC. 

In another positive news, in a bid to increase its Bitcoin holdings, Samara Asset Group, a publicly listed asset management firm, announced plans to raise $32.8 million from a bond issue.

Curious about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!

ETH Holds Steady, SOL & XRP Face Corrections?

Ethereum price has remained relatively stable, showing a minor 0.28% gain and trading at $2,612.18. However, spot Ethereum ETFs recorded outflows of $12.7 million, suggesting cautious sentiment among institutional investors.

Keen on the long-term price targets of ETH? Read our Ethereum Price Prediction

Solana (SOL) faced a dip of 0.88% despite Grayscale’s attempt to convert its SOL trust into an ETF. XRP also experienced a 1.10% decline, trading at $0.5406.

Top Gainers and Losers Among the top 100 altcoins, Ethena (ETHN) leads the gainers, up by 7.52% to $0.4466. On the other hand, Popcat (POP) tumbled by 8.62%, followed closely by Sui (SUI) and Brett (BRETT), which recorded losses of 8.01% and 7.58%, respectively.

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