Market Update 14th October 2024
By Manoj Dharra
Cryptocurrency markets gained 2.2% on Monday, driven by rising Bitcoin and Ethereum prices, with Bitcoin up 3.5% to $64,900 and Ethereum climbing to $2,540. Investors are opting for non-custodial options, leading to record-low reserves of both assets on exchanges, signaling scarcity that could boost long-term value.
The delayed Mt. Gox repayments eased sell-off fears, while a €30 million Bitcoin investment by Germany’s Samara AG and $253.54 million inflows into Bitcoin ETFs further fueled optimism. Institutional interest and tightening supply are setting a bullish tone for the market.
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