$BTC

Bitcoin and Ethereum climbed on Oct 12 as the cryptocurrency market extended its recovery from last week’s sell-off, although elevated US Treasury yields and geopolitical uncertainties continued to weigh on investor sentiment.$BTC ‌ Bitcoin, the world’s largest cryptocurrency, rose 1.1% over the past 24 hours to US$83,853.58, with trading volume reaching approximately US$15.92 billion, according to CoinGecko data recorded at 9.30am Malaysian time. Ethereum,$GT ‌ meanwhile, outperformed Bitcoin, advancing 1.5% to US$2,542.22, supported by renewed buying interest. Its 24-hour trading volume stood at US$8.55 billion. The broader cryptocurrency market capitalisation increased 0.2% to US$2.9 trillion, with total trading volume reaching US$52.4 billion. Bitcoin maintained its dominance with a 58% market share, while Ethereum accounted for 10.7%. The gains followed a volatile trading week in which Bitcoin briefly slipped towards US$80,000 as rising US Treasury yields, elevated oil prices and geopolitical tensions triggered widespread selling. The downturn also prompted significant liquidations across cryptocurrency markets, with more than US$1 billion in leveraged positions wiped out during the sell-off. Despite the recovery on Oct 12, market sentiment remained sensitive to US monetary policy expectations, Treasury yield movements and developments in the Middle East. Bitcoin’s ability to sustain momentum towards US$85,000 and Ethereum’s recovery above US$2,500 remain key near-term levels to watch as investors assess whether the rebound can develop into a more sustained rally.

#BTC#ETH#AGENCY insists on going long at the bottom; this is clearly an opportunity. Rehashing old material is often the best fried rice.