Losses are piling up in crypto after the digital-asset market’s second-worst weekly drop of 2024.
Losses are piling up in crypto after the digital-asset market’s second-worst weekly drop of 2024, a reflection of cooling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy.
A gauge of the largest 100 digital assets fell about 5% in the seven days through Sunday, the worst such decline since April, data compiled by Bloomberg show. Market leader Bitcoin slid below $63,000 on Monday to a more than one-month low, hurt by a six-day streak of outflows from US ETFs for the token.
The cracks in crypto come amid doubts about the Federal Reserve’s scope to cut interest rates quickly from a two-decade high.The current crypto market dynamic is “characterized by low volatility, soft volumes, and orderbooks getting unbalanced when prices start to move to the edges of their range,”The drops in some corners are particularly notable: the run of weekly declines for Ether and Solana are the longest since last year and 2022 respectively.
That’s even as fund companies prepare to launch the first US ETFs investing directly in Ether, the second-ranked cryptoasset.Bitcoin hit a record of $73,798 in March and but is trailing traditional assets such stocks, bonds and gold this quarter.which aims to encourage constructive discussions. To get your comments published, make sure it is civil and adds value to the discussion.
Crypto Markets Cryptocurrency Ether Solana Cryptocurrency
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto arbitrage: 2024 set to be the best year yetDefying claims that it would fizzle out over time.
Read more »
Le fonds de revenu Canoe EIT annonce la distribution pourCALGARY, Alberta, 05 juin 2024 (GLOBE NEWSWIRE) -- Le fonds de revenu Canoe EIT (le « Fonds ») [Bourse de Toronto : EIT.UN] annonce une distribution mensuelle de 0,10 $ par part juin 2024. La distribution sera versée le 15 juillet 2024 aux porteurs de parts inscrits en date du 21 juin 2024.
Read more »
ARMOUR Residential REIT, Inc. Announces June 2024 DividendVERO BEACH, Florida, May 30, 2024 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) today announced the June 2024 cash dividend for the Company's Common Stock. June 2024 Common Stock Dividend Information Month Dividend Holder of Record Date Payment DateJune 2024 $0.
Read more »
Crypto miners sitting on hottest products in tech — and it’s not their cryptoThe AI boom has created a shortage of both data-centre space and the graphics-processing unit chips used in AI, things crypto miners have an abundance of.
Read more »
Kenya: President Ruto Responds to Youth Protests Against Finance Bill 2024President William Ruto has addressed the ongoing protests by Kenyan youths against the Finance Bill 2024, expressing his pride in their peaceful and united stance.
Read more »
The challenges South African HR departments face in 2024Drastic economic, technological, and workplace changes have presented HR departments with new challenges in 2024.
Read more »