Today, on October 22nd, 2024, the crypto market saw a slight decline amid geopolitical tensions and electoral uncertainties in the United States. The total value of all cryptocurrencies fell by 2.2%, down to $2.34 trillion.

Bitcoin Drops Below $67k

Bitcoin's price has fallen by 2.4%, now sitting at $67,160.67. Just recently, Bitcoin briefly touched $69,000, but could not maintain its high position. Many anticipated that the $287 million inflow into Bitcoin ETFs would push its price higher, but results have been disappointing. One reason for this drop is the uncertainty surrounding the U.S. presidential election. Investors are worried about the outcome and are pulling out of riskier assets like Bitcoin, opting for safer investments like gold and the U.S. dollar.

Ethereum Aims for $3k

Ethereum has recently been more stable compared to Bitcoin. Although its price has dipped slightly, Ethereum saw strong gains last week. Experts believe that as long as Ethereum's price stays above $2,700, it might soon reach $3k or even $3.2k.

Memecoins Gain Strength

Memecoins continue to perform well in the market, especially with the Fear & Greed Index indicating more 'Greed' at a level of 70. This fuels investor optimism, suggesting a market bull run might be near. Memecoins like Dogecoin, Bonk, and Pepe have shown impressive results. Dogecoin’s price jumped over 15%, 14%, and 8% respectively this week. Pepe, the third-largest memecoin with a market value of $4.22 billion, has increased by 28% in the last 30 days. However, its growth has slowed due to competition from newer coins such as Popcat and NEIRO.

Amid market volatility, investors continue to seek lucrative opportunities. Price changes in Bitcoin and its altcoins, like Ethereum and memecoins, attract increased interest.