Largest by market value crypto money The unit quickly turned down after the US markets opened. The main reason for this decline seems to be the weakening expectation of Fed rate cuts. Apart from the SEC’s decision against a company called Salt Blockchain, nothing major happened.
Bitcoin Price Falls
At the time of writing, BTC was trading at $54,500 and made a daily low of $54,522. Many analyst He was talking about the ongoing consolidation below $58,000 that could open the door to new bottom searches. The bulls, who failed in resistance attempts due to the effect of volume sales, could not prevent the decline despite the positive US data. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Poor employment data, which has opened the door to the possibility of further Fed cuts, is now causing a decline in US markets. Shares a positive correlation with the stock market in declines BTC Of course, it also suffered its share of this decline.
- S&P 500 -1.37%
- Nasdaq -2.11%
Global economic recession The fear of further rate hikes by Japan appears to have hit risk markets. The probability of a 25 basis point Fed rate cut in September is 63%, while the probability of a 50 basis point cut is 37%.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
