Hong Kong: Bitcoin fell below $43,000 on Thursday, testing multi-month lows after minutes of the Federal Reserve’s last meeting showed it was leaning toward more aggressive policy action, which has fueled investor appetite for riskier assets. reduced.
world’s largest cryptocurrency Wednesday was last at $42,700, down 5.2 percent, down 1.7 percent. A break below last month’s trough of $42,000 would make it its weakest since September.
The coin reached a record high of $69,000 in November.
Matt Dibb, COO of Stack Funds, a Singapore-based crypto fund distributor, specifically pointed to the decline in Nasdaq, saying “the decline is mostly related to ‘risk-off’ moves in traditional asset classes.”
As the number of institutions trading crypto and other assets grows, moves in the cryptocurrency markets are becoming more aligned with traditional markets.
Fed minutes come after US policymakers discussed shrinking the bank’s balance sheet at a December meeting when they decided to accelerate the elimination of its bond buying program, up from 3 percent on the Nasdaq since February. declined by more than
Stock markets in Asia also sold off on Thursday, while US Treasury yields rose.
etherThe world’s second-largest cryptocurrency, which underpins the Ethereum network, lost 5.2 percent on Wednesday, touching its lowest level since October, then bouncing back slightly to $3,460.
Crypto analysts were also looking at whether the anti-government protests in Kazakhstan, initially triggered by rising fuel prices, would affect the bitcoin network.
Britain’s Cambridge Center for Alternative Finance said last year that the Central Asian country is the world’s second largest center for bitcoin mining.
The Kazakh government began cracking down on some miners late last year, fearing that the energy-intensive process was using too much power.
world’s largest cryptocurrency Wednesday was last at $42,700, down 5.2 percent, down 1.7 percent. A break below last month’s trough of $42,000 would make it its weakest since September.
The coin reached a record high of $69,000 in November.
Matt Dibb, COO of Stack Funds, a Singapore-based crypto fund distributor, specifically pointed to the decline in Nasdaq, saying “the decline is mostly related to ‘risk-off’ moves in traditional asset classes.”
As the number of institutions trading crypto and other assets grows, moves in the cryptocurrency markets are becoming more aligned with traditional markets.
Fed minutes come after US policymakers discussed shrinking the bank’s balance sheet at a December meeting when they decided to accelerate the elimination of its bond buying program, up from 3 percent on the Nasdaq since February. declined by more than
Stock markets in Asia also sold off on Thursday, while US Treasury yields rose.
etherThe world’s second-largest cryptocurrency, which underpins the Ethereum network, lost 5.2 percent on Wednesday, touching its lowest level since October, then bouncing back slightly to $3,460.
Crypto analysts were also looking at whether the anti-government protests in Kazakhstan, initially triggered by rising fuel prices, would affect the bitcoin network.
Britain’s Cambridge Center for Alternative Finance said last year that the Central Asian country is the world’s second largest center for bitcoin mining.
The Kazakh government began cracking down on some miners late last year, fearing that the energy-intensive process was using too much power.
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