Bitcoin Steadies at US$81,629 as Ether Edges Up | Crypto Wrap, Oct 23
Bitcoin ended the week almost unchanged at US$81,629 and ether at US$2,404, as crypto kept tracking falls in US technology shares. The post Bitcoin Steadies at US$81,629 as Ether Edges Up | Crypto Wrap, Oct 23 appeared first on The Rio Times .
Bitcoin settled at US$81,629 on Friday, October 23, remaining relatively stable after a week of fluctuation. The cryptocurrency climbed 0.39% on the day, reaching the US$84,012 mark on Wednesday. Ether also experienced a slight gain, increasing 0.76% to US$2,404. Meanwhile, US stocks declined, impacting the crypto market. Bitcoin's price on Friday was US$81,629.20, up 0.39% from the previous close.
Ether closed at US$2,404.24, up 0.76% in the day, but down 0.64% over the past week. The Nasdaq Composite dropped 2.6% on Thursday, leading to a 3.2% decline in Bitcoin that day. The cryptocurrency has been closely following US stocks this week, ranging between approximately US$81,300 and US$84,000. Should US stocks decline further, crypto prices might drop as well, while a rebound in tech shares could help bolster the crypto market.
Bitcoin's major fund, IBIT, closed at US$45.96, a 0.22% decrease. Meanwhile, Strategy (MSTR) rose 0.14% to US$146.01, and Coinbase lost 2.74% to US$164.45. Stock performance dictates the crypto market's direction. The S&P 500 dropped 0.52% on Friday, and the Nasdaq fell 0.2%, following the Nasdaq's 2.6% loss on Thursday. The dollar index rose 0.14%, and the US 10-year yield hit 5.00%.
Elevated interest rates typically diminish the attractiveness of income-producing assets. US economic data were robust: the S&P Global Manufacturing PMI stood at 56.0 (expected 55.5), Services PMI at 57.9 (expected 58.0), and Composite PMI at 57.6 (as forecast). Inflation expectations, according to the University of Michigan survey, were 4.7% for one-year and 3.5% for five-year periods, both meeting expectations.
For residents in Latin America, Bitcoin's price in local currencies is crucial. On Friday, one Bitcoin equaled roughly R$405,000 in Brazil (US$81,629) and ARS125 million in Argentina (US$81,629). Brazil's real gained 1.57% on Friday, making Bitcoin slightly more affordable in reais than it was on Thursday. IBIT is a significant fund through which US investors purchase Bitcoin.
Strategy holds Bitcoin on its balance sheet, and Coinbase earns from trading volumes. The latter's decline compared to Bitcoin suggests cautious investor sentiment regarding trading activity. Bitcoin's future hinges on US stocks and interest rates. The Federal Reserve will announce its decision on October 28 at 18:00 UTC. Should Bitcoin breach US$84,000, it would mark a new weekly high; conversely, a close below US$80,000 would break the week's range.
Polymarket, a crypto-based prediction market, forecasts an 80.5% chance of Bitcoin trading below US$80,000 at some point during October, with approximately US$10.1 million traded on the contract. For the entire year of 2026, Polymarket predicts a 51.5% probability of Bitcoin reaching US$90,000 and a 19.5% chance of reaching US$100,000 (US$77.8 million traded on the contract).
This article, produced by The Rio Times' automated newsroom system, highlights how investors, campaigns, and newsrooms in the United States now closely monitor prediction markets, akin to polls and official results.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
