Reported 1 day ago
Strong economic indicators, including an unexpected rise in the ISM Services PMI and job openings, led to a significant drop in Bitcoin and other cryptocurrencies. As investors reacted to the news, Bitcoin fell 4.9% and Ethereum and Dogecoin followed suit. The correlation of crypto with risk assets and speculation of rising interest rates has left investors unsettled, culminating in the liquidation of $457 million in long positions. The crypto market continues to face challenges as the catalysts that drove its recent surge are losing momentum.
Source: YAHOO