Bitcoin Steady Despite Turbulence in Stocks. Why the Calm May Not Last.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Is stability in cryptos despite a selloff in stocks just another sign that Bitcoin is boring, or a harbinger of declines for digital assets?

Bitcoin and other cryptocurrencies were unchanged or mildly higher on Wednesday despite turbulence in wider markets, with a selloff Tuesday on Wall Street. It could be another sign that Bitcoin is boring—or signal pain headed for cryptos.

“Despite the storm in the equity markets, the crypto market remains subdued,” said Alex Kuptsikevich, an analyst at broker FxPro. “Bitcoin is in the period with the lowest volatility in the history of the asset. The crypto market is clearly in a quagmire,” said Kuptsikevich. The stock selloff Tuesday came amid macroeconomic pressures that should be relevant to digital assets. Investors are worried that interest rates will stay higher for longer than once thought, a trend that would add more pressure to stocks and cryptos, which have seen significant declines since last year as the Federal Reserve ramped up borrowing costs. Higher rates are a headwind because when risk-free cash or U.S.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin & Ethereum Prices Dip as Market Turns Bearish, While Bitcoin BSC Nears $5M MilestoneIt's been a difficult 24 hours for Bitcoin (BTC) and Ethereum (ETH) investors, with both cryptocurrencies experiencing corrections. Bitcoin's value has
Source: Crypto_Potato - 🏆 568. / 51 Read more »