Ethereum News

SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC

SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC

The United States consumer price index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. 

The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range it has been stuck in for the past several days.

Daily cryptocurrency market performance. Source: Coin360

Both the U.S. equities markets and Bitcoin tried to extend their recovery on Oct. 14 but the higher levels attracted selling, indicating that the bears have not yet given up.

Could the increased volatility culminate with a breakout to the upside or will it start the next leg of the downtrend?

Let’s study the charts of the S&P 500 index, the U.S. dollar index (DXY) and the major cryptocurrencies to find out.