-- Bitcoin sank for a fourth consecutive trading session, part of a wider crypto selloff that contrasts with recent record highs in global stocks.House Democrats Consider Demanding Biden Withdraw From RaceThe digital asset shed as much as 5.6% to hit the lowest since February and changed hands at about $55,500 as of 11:20 a.m. Friday in Singapore. Smaller coins like Ether and XRP nursed steeper losses in some cases exceeding 10%.
Von Haenisch said crypto needs more dovish notes on monetary policy from the Federal Reserve, adding “one to two rate cuts, coupled with Fed balance sheet expansion, are two key ingredients that crypto is really waiting for.”Investors are awaiting US jobs data later Friday for the latest clues on the outlook for Fed policy. Soft recent economic reports have bolstered the case for the US central bank to loosen monetary settings in coming months.
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