Crypto Today: Ethereum gains slightly, Bitcoin, XRP slip, traders keep eyes on BTC potential new all-time high


  • Ethereum gains nearly 1% on the day, hovers around $2,700 on Wednesday.
  • Bitcoin and XRP erase nearly 1% of their value, amidst anticipation of a fresh all-time high in BTC.
  • The Crypto Fear & Greed Index turns to extreme greed on Wednesday.

Bitcoin, Ethereum and XRP updates 

  • Bitcoin trades at $71,886 at the time of writing, down 1% on the day. The largest cryptocurrency flirted with the previous all-time high of $73,777, and climbed to a peak of $73,620 on Tuesday. 
  • Ethereum is trading at $2,660, the altcoin gained nearly 1% on the day. The altcoin is rallying ahead of a key market moving event, the US Presidential election. 
  • XRP slips lower, to $0.5230, erasing nearly 1% of its value, while traders keep eyes peeled for a rally in Bitcoin. 

Chart of the day: EigenLayer (EIGEN)

EigenLayer ranks among the top cryptocurrencies on Binance that yielded high gains for traders in the last 24 hours, on the exchange’s spot markets. EIGEN trades at $3.117 at the time of writing, the token could extend its gains by 9.60% and climb to the upper boundary of the Fair Value Gap (FVG) at $3.411. 

The Moving Average Convergence Divergence (MACD) indicator shows green histogram bars, above the neutral line. EIGEN likely has positive underlying momentum in its price trend. 

Crypto

EIGEN/USDT 8-hour chart

If there is a correction in EIGEN, the token could sweep liquidity at the October 29 low of $2.826. 

Market updates 

  • The Crypto Fear & Greed Index reads 77 on Wednesday, traders turn “extremely greedy” after over a month of “greed.” Typically, this is considered a sell signal. 

Crypto

Crypto Fear & Greed Index 

  • A Coindesk report notes there is a  huge uptick in Btcoin call option buying on CME and demand for short-term lending has increased. Institutional investors are likely preparing for rising crypto prices as the US Presidential elections approach.
  • Bitcoin spot ETFs recorded a net inflow of $870 million on October 29, the highest level since June 5. 

Industry updates

  • Chainlink introduced a key upgrade, CCIP v1.5 upgrade with security and privacy enhancements for users, per an official tweet on X. 
  • According to Visa and Coinbase’s partnership announcement, customers of Visa can integrate their eligible debit card into their exchange account and deposit funds instantly. 
  • PEPE becomes first meme coin to be listed on a crypto exchange in Japan. BitPoint Japan announces the start of PEPE’s trading, lending and fixed investment on its platform. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off

Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off

Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?  

More Litecoin News
Bitcoin fails to recover as Metaplanet buys the dip

Bitcoin fails to recover as Metaplanet buys the dip

Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.

More Bitcoin News
SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration

SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration

In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.

More Cryptocurrencies News
Bitcoin dives 3% from its recent all-time high, is this the cycle top?

Bitcoin dives 3% from its recent all-time high, is this the cycle top?

Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.

More Bitcoin News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP