Bitcoin Sinks To Six-Month Low, Leading Crypto Market Downward

China’s Supposed ‘Bitcoin Ban’ Fails To Crash Market As Twitter Adds Crypto Payments In Historic First

Jan Wüstenfeld, on-chain analyst for crypto research firm Quantum Economics, cited “high macro uncertainty—most importantly high inflation, and in reaction to that, a more hawkish Federal Reserve Bank”—as the reason for the market’s negative performance. As of late, cryptocurrencies have moved increasingly in sync with the broader financial markets. “Currently, the S&P 500 seems to dictate the direction of bitcoin and the overall crypto market, evident by correlations reaching new highs,” crypto analytics firm Arcane Research highlighted in a note issued on Tuesday. “Bitcoin’s 90-day correlation to the S&P 500 is currently at its highest since October 2020.

Amid expectations that the Federal Reserve will soon start to raise interest rates, investors have been shedding their positions in riskier assets. Both the Dow Jones Industrial Average and S&P 500 are on track for a third straight week of losses. The Nasdaq is down nearly 5% on the week. Accordingly, bitcoin mining and other crypto proxy stocks have continued to slide. Most are down over 10% so far this year.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Crypto Billionaire Mike Novogratz Who Predicted $38K Bitcoin Bottom Speaks on Market OutlookMike Novogratz, crypto billionaire who predicted $38,000 Bitcoin low, talks market outlook
Fonte: Utoday_en - 🏆 295. / 63 Consulte Mais informação »

$200 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Month Low (Market Watch)The bears have complete control over the cryptocurrency market with $200 billion gone in a day as BTC dumped below $40K.
Fonte: Crypto_Potato - 🏆 568. / 51 Consulte Mais informação »

MicroStrategy $5 Billion Bitcoin Stash Is Not Getting Sold, Says Company CEO Michael SaylorICYMI: MicroStrategy is not planning on selling its multibillion stack despite the $BTC and crypto market correction Bitcoin BTC
Fonte: Utoday_en - 🏆 295. / 63 Consulte Mais informação »

Crypto market is headed for a ‘major correction’, hints financial markets expertIn light of the current volatility in the cryptocurrency market, experts are expressing their opinions on which route digital assets... Continue reading
Fonte: CryptoPanicCom - 🏆 563. / 51 Consulte Mais informação »