FIRST MOVER ASIA: Investor concerns about monetary hawkishness and Jump Capital's possible sell-off of ETH are largely to blame for the recent decline in crypto prices. BTC, ETH fall slightly in Monday trading. ShauryaMalwa and JPRubin23 report.
Ten-year Treasury yield daily close: 3.04%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found aton Monday afternoon
The largest cryptocurrency in market value was recently trading at about $21,100, down roughly a percentage point over the past 24 hours. BTC has dropped 10% over the past five days after the release of July's Federal Open Market Committee meeting suggesting the bank would maintain its current inflation prescription of 75-basis point, interest rate hikes.
Yet Moya added hopefully that Bitcoin weakness was"not matching the selling pressure hitting stocks...a sign that investors are not ready to see prices retest the June lows." Despite ether's recent drop, Arca Chief Investment Officer Jeff Dorman remained optimistic about its future pricing, saying in his weekly Two Satoshi newsletter that worries about it were overblown. While “long ETH” is certainly a crowded and telegraphed trade, it is likely still one of the best risk/reward investment opportunities in digital assets right now," Dorman wrote.
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