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Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates

Mount Equity Group Tokyo Japan > News > Markets > Bitcoin, Ether fall on U.S. economy worries, hawkish Fed comments on interest rates

Bitcoin and Ether fell Thursday morning in Asia, along with most other top 10 non-stablecoin cryptocurrencies on concerns about the direction of the U.S. economy and interest rates. Prices also lost ground overnight after the U.S. said it would take what it called “a major, international cryptocurrency enforcement action.” This turned out to involve the relatively market-underwhelming arrest of the Russian owner of Hong Kong-registered exchange Bitzlato Ltd., but prices didn’t recover.

See related article: Silvergate reports US$1 billion loss, attributes to “crisis of confidence” in crypto sector

Fast facts

  • Bitcoin fell 2.2% to US$20,686 in the 24 hours to 8 a.m. in Hong Kong, though it is still up 18.6% over the past calendar week. Ether lost 3.4% to US$1,514 to cut its gains for the same week to 9.1%, according to data from CoinMarketCap.

  • Memecoin Shiba Inu jumped 6.2% to US$0.0000112, the only token in CoinMarketCap’s top…

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