Cryptocurrencies were under pressure Thursday as investors grappled with renewed concerns about the U.S. economy.
Wednesday and the 10-year U.S. Treasury yield hit its highest close since 2008.
Bitcoin's correlation with stocks is at its lowest level in two years, according to Coin Metrics, but in 2022 it shot to an all-time high in response to the Fed's rate-hiking campaign to tame inflation. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"Although inflation in itself could be an argument for growth in crypto assets, with inflation comes other aspects like risk off appetite from investors fearing a recession, and avoiding what bitcoin is deemed to be, riskier assets," said Sylvia Jablonski, chief investment officer at Defiance ETFs.
Bitcoin and ether's 90-day volatility dropped to multi-year lows at 35% and 37% this week, respectively, according toNeedham's John Todaro added that bitcoin's move back to $30,000 in late June"had been on light volume so that rally has not had a ton of strength." The eventual debut of a spot bitcoin ETF, one of crypto's biggest positive catalysts, also lost some steam this week, he added.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Cryptocurrencies Price Prediction: ApeCoin, Bitcoin & Arbitrum — Asian Wrap 16 AugustApeCoin price was one of the worst-performing assets in the crypto market on August 15 as the broader market bearish woes overtook the optimism of rec
Les mer »
Cryptocurrencies Price Prediction: Shiba Inu, Tron DAO & Bitcoin — Asian Wrap 17 AugustShiba Inu price began as a meme coin, but the Dogecoin-inspired token is now establishing its presence as a legitimate cryptocurrency network with the
Les mer »
Cryptocurrencies Price Prediction: Shiba Inu, Bitcoin & RippleThere has been a spike in activity from large wallet investors – popularly known as whales – affecting several altcoins, particularly Shiba Inu (SHIB)
Les mer »
Tether discontinues USDT support on Bitcoin, Kusama and Bitcoin CashStablecoin issuer Tether is discontinuing support for USDT on the Bitcoin, Kusama and Bitcoin Cash blockchains.
Les mer »
Bitcoin and US stock market correlation shoots up: Is BTC at Fed’s mercy again?Bitcoin (BTC) price action remains boring, but certain elements that directly or indirectly affect it are changing slowly. Previous publications have
Les mer »
EUR/USD dips below 1.0900 as Fed’s minutes show split views amongst Fed officialsEUR/USD dropped below 1.0900 for the second straight day, as the latest Federal Reserve (Fed) monetary policy minutes began to show policymakers are s
Les mer »