A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.and other cryptocurrencies fell sharply on Thursday as hawkish minutes from the Federal Reserve's December meeting hit global risk assets.
Bitcoin was trading at just below $43,200 at 2:59 a.m. ET on Thursday, down nearly 7% from the 24 hours previous, according to CoinDesk data. It fell as low as $42,503.88 in the last 24 hours, the lowest level in more than a month.The crypto sell-off comes after stocks fell on Wednesday following the
in which the central bank indicated it would dial back its supportive monetary policy, including reducing the amount of bonds it holds.Meanwhile, the benchmarkGrowth assets such as technology stocks tend to be hit when rates rise, as future earnings becomes less attractive to investors when yields are higher. That sentiment has filtered through to cryptocurrencies, which are seen as risker assets.
"Overall, I think the global markets have shown weakness in light of the recent Fed moves to raise interest rates. Hence, I do think the drop yesterday is quite correlated. We've seen U.S. markets fall yesterday and as a result, all other risk asset classes fared equally poorly including crypto," said Vijay Ayyar, vice president of corporate development and international at cryptocurrency exchange Luno.
"Specifically with regard to Bitcoin and crypto, the last 4 weeks have seen some weak price action owing to a lack of interest/demand, holiday season and potentially similar factors."
As you research the project you're going to quickly notice something... $METIS is aligning itself almost exactly with how VitalikButerin has laid out his ideas for $ETH 's future. Dig some more and you'll see why
Flight to Squid
My friends and family members can finally buy xrdoge
More lies and lies and tons of lies from cnbc. Why don’t you tell the truth for once?
realDogecoinOG Perfect now buy the dip up !
Fed's buying $BTC while selling treasuries, $BTC reaching 100k soon when the feds decide.
Buy ShiCo
This is the beginning of the end on the greatest heist ever committed against the highly vulnerable middle class, Bitcoin. All the facts are coming out now. Take the bid while you have one. No intrinsic value other than the disgusting energy bills provided by miners. Hoax 100%
exactly back to January 2021 levels.
Flight to Squid
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »