Main Takeaway: Bitcoin Surges Past $20,000 – Ethereum Up Over 10%
Crypto markets surged following positive earnings from the likes of Coca-Cola. Next to report earnings are Meta and Apple, which will further dictate the health of the tech economy. As a result, demand for risky assets rose d-o-d – with Bitcoin and Ethereum rising 4% and 10% respectively. There’s a lot of open interest on the market, so it’s still TBD whether this rally will last another few days. It’s important to remember that a Fed rate hike will be announced one week from today (next Wednesday) on November 2nd. So this rally is not all in the clear – and could very much end up reversing.