Bitcoin tumbled late Thursday to fall below $23K and continue a recent losing streak; South Korea's crypto industry may have a bright future but it is still trying to address the TerraUSD (UST) stablecoin collapse and other issues. JPRubin23 reports
Ten-year Treasury yield daily close: 2.88%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 atCryptos spent most of Thursday on the upswing before sinking late in the day.
The Fed Reserve has raised interest rates a hefty 75 basis points at each of its last two meetings as it aims to suppress high inflation. "Bitcoin is is range bound at the moment," said Nauman Sheikh, managing director at investment advisors Wave Financial, told CoinDesk TV's First Mover program."It's hit a $25,000, sort of resistance level. So has Ethereum hit a 2000 resistance level. We're in a mode where the macro environment is supportive of the market, and we'll retest those resistance levels and hopefully break.
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