News Formal

Crypto market plunges below $1 trillion as Bitcoin stumbles

  • 📰 mybroadband
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 67%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Crypto market drops below $1 trillion as Bitcoin stumbles

The largest digital token has shed more than 6% so far this week and was trading at about $18,620 as of 10:28 a.m. in Singapore.

Surging real interest rates — seen as the true cost of borrowing — are heaping pressure on a range of risk assets and crypto is no exception. “The macro narrative is very hard to be able to let go and will drive risk assets,” Kevin Loo, head of investment insights at IDEG Asset Management Ltd., said on Bloomberg Television.

 

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

 /  🏆 11. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Brisk business for SA’s wholesale telecoms operatorsThe fibre-to-the-home market has grown to become one of the largest wholesale market categories, and continues to show the highest growth, says BMIT.
Source: ITWeb - 🏆 45. / 51 Read more »

Business Maverick: Truss earmarks £130-billion to keep UK energy bills below £2,000Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 (R39,022).
Source: dailymaverick - 🏆 3. / 84 Read more »