Bitcoin sank to its lowest price level since mid-summer
China’s Supposed ‘Bitcoin Ban’ Fails To Crash Market As Twitter Adds Crypto Payments In Historic First
Jan Wüstenfeld, on-chain analyst for crypto research firm Quantum Economics, cited “high macro uncertainty—most importantly high inflation, and in reaction to that, a more hawkish Federal Reserve Bank”—as the reason for the market’s negative performance. As of late, cryptocurrencies have moved increasingly in sync with the broader financial markets. “Currently, the S&P 500 seems to dictate the direction of bitcoin and the overall crypto market, evident by correlations reaching new highs,” crypto analytics firm Arcane Research highlighted in a note issued on Tuesday. “Bitcoin’s 90-day correlation to the S&P 500 is currently at its highest since October 2020.
Amid expectations that the Federal Reserve will soon start to raise interest rates, investors have been shedding their positions in riskier assets. Both the Dow Jones Industrial Average and S&P 500 are on track for a third straight week of losses. The Nasdaq is down nearly 5% on the week. Accordingly, bitcoin mining and other crypto proxy stocks have continued to slide. Most are down over 10% so far this year.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Crypto Billionaire Mike Novogratz Who Predicted $38K Bitcoin Bottom Speaks on Market OutlookMike Novogratz, crypto billionaire who predicted $38,000 Bitcoin low, talks market outlook
Les mer »
Bitcoin’s price hits a six-month low near $38,500⬆ +9 Bitcoin’s price hits a six-month low near $38,500 $BTC bitcoin $NEAR ethereum ETH XBT cryptocurrency
Les mer »
$200 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Month Low (Market Watch)The bears have complete control over the cryptocurrency market with $200 billion gone in a day as BTC dumped below $40K.
Les mer »
Bitcoin's price hits a six-month low near $38,500The price of bitcoin (BTC) has hit a six-month low and is now trading near $38,500. Ether is also trading down near $2,800 levels
Les mer »
MicroStrategy $5 Billion Bitcoin Stash Is Not Getting Sold, Says Company CEO Michael SaylorICYMI: MicroStrategy is not planning on selling its multibillion stack despite the $BTC and crypto market correction Bitcoin BTC
Les mer »
Crypto market is headed for a ‘major correction’, hints financial markets expertIn light of the current volatility in the cryptocurrency market, experts are expressing their opinions on which route digital assets... Continue reading
Les mer »