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Bitcoin rate recovered after collapse. State of the crypto market.

The Bitcoin (BTC) rate recovered after the collapse below $65 thousand. On Tuesday evening, October 15, according to CoinGecko, the asset updated the maximum since the end of July, approaching the $68 thousand mark, after which it sharply fell to $64.8 thousand. By Wednesday morning, the BTC price returned to the range of $66.5 thousand – $67.5 thousand. At 15:50 Hong Kong time, the leading cryptocurrency is trading around $66.9 thousand. It has risen in price by 1.8% in a day.

Bitcoin is showing growth dynamics, which may lead to it updating its historical maximum even before the US presidential election on November 5, according to Standard Chartered. The bank’s analysts base their forecast on falling US Treasury yields, renewed interest in Bitcoin ETFs, and the growing chances of former President Donald Trump winning the upcoming US elections.

Amid sharp jumps in the Bitcoin exchange rate on October 15, crypto traders lost more than $30 million in an hour. In total, over the past 24 hours, more than 94 thousand traders on major crypto exchanges faced the liquidation of their positions for a total of $303 million. Of these, BTC pairs accounted for $77 million.

Public companies associated with cryptocurrencies in the US saw growth on October 14. Miner CleanSpark, according to Google Finance data, showed the highest results of the day, closing 12.72% higher at $10.81 and continuing to grow by 1.72% after the close of trading to $11. Cryptocurrency exchange Coinbase followed suit, closing up 11.3% to $196.35, a seven-week high, and extended gains of 1.71% to $199.70 in after-hours trading. Cryptocurrency miner Iren — formerly Iris Energy — also posted double-digit percentage gains of 10.21%, while rivals TeraWulf and MARA Holdings, formerly Marathon Digital, rose 6.65% and 5.6%, respectively.

Semler Scientific — a medical manufacturing company that has copied MicroStrategy’s strategy to buy bitcoin — was trading flat on Oct. 14, data from Yahoo Finance shows, then up 4.3% in after-hours trading, while digital payments company Block rose 2.8%. Business intelligence firm MicroStrategy, which holds 252,220 BTC worth $16 billion, was one of the few to close on the day, falling 5.1% to $201.67 but making a small 1.65% gain to $205 in after-hours trading. Bitcoin miner Core Scientific also fell 1.9% to $12.97, with a small recovery to $13.05 in after-hours trading. The rally and after-hours gains were accompanied by a 5.7% gain in the price of Bitcoin in the past 24 hours, pushing it to its highest price since July 30, prompting some industry analysts to speculate that “Uptober” has finally begun.

Ethereum also saw sharp gains in the past 24 hours but ended up down 0.6% in the 24 hours. At 15:50 Hong Kong time, the leading altcoin is trading at around $2.6 thousand. Most of the other cryptocurrencies in the top 10 by capitalization showed a slight decline. Toncoin (TON) fell the most — by 1.6%. Dogecoin (DOGE) showed the largest growth — 2.2%.
The total market capitalization of cryptocurrencies fell by 0.7% in a day, to $2.4 trillion. The trading volume over 24 hours was $134 million.

The index of fear and greed in the crypto market increased from 65 to 73 points out of 100, closely approaching the zone of “extreme greed”, which begins above the 75 point mark. The current movement of the indicator suggests that investors’ interest in buying digital coins is growing.