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Cryptocurrencies Extend Drop as ‘Tough Environment’ Culls Demand

From bnnbloomberg.ca

Bitcoin and other cryptocurrencies slid on Friday as investors continued to bail from riskier assets following the Federal Reserve’s promise that it will stay aggressive in its fight against inflation. The largest digital coin by market value fell as much as 3.7% during the session to trade around $18,538. Ether, the second-largest, was down 4.7% at one point to $1,262, while an index of 100 of the largest coins lost 1.6%. The mood in the market has remained sour as the Fed and other global central banks raise interest rates to fight sticky price increases. The Fed delivered its third straight 75-basis point hike ... (full story)

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  • Category: Fundamental Analysis