First Mover Asia: All Eyes on Aptos; Cryptos Trade Down Even as Stocks Rise

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Traders and others have been scrutinizing Aptos; bitcoin, ether and other major cryptos fell, even as major U.S. stock indexes rose amid some mildly encouraging earnings reports. JPRubin23 and thesamreynolds report.

Ten-year Treasury yield daily close: 4.00%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atBitcoin sputtered even as it continued to flutter above $19,000 throughout Tuesday trading.

The largest cryptocurrency by market capitalization was recently trading at just over $19,300, down 1.1% in the last 24 hours. Ether followed a slightly more troublesome path, falling briefly below its recent $1,300 support before recovering later in the day. The second largest crypto in market value was recently changing hands just above $1,300, off 2% from Monday, same time.

Other major cryptos with market caps over $1 billion spent much of the day donning various shades of red with XRP and ADA recently down about 3%. UNI was up over 2%. The, a broad-based market index that measures the performance of a basket of cryptocurrencies, fell by 0.35% over the past 24 hours. "Crypto is locked into consolidation mode and that will continue until investors are convinced of the risks of the Fed over-tightening and sending the economy into a severe recession are gone," Edward Moya, senior market analyst for foreign exchange market maker Oanda wrote in an email.

Crypto prices countered equity markets, which rose for a second consecutive day with the tech-heavy Nasdaq, S&P 500 and Dow Jones Industrial Average all climbing about a percentage point amid encouraging third quarter earnings reports from several global brands, including Goldman Sachs, which said profits had dropped but surpassed targets. The investment bank has ramped up its interest in crypto over the past year.

 

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