Business News Asia
The sell-off in the crypto market continues led by Ethereum which is down 4% in the last 24h. Meanwhile, stable coins remain stable.
Price Movement last 24h:
Bitcoin down 0.55% at $48,356.66
Ethereum minus 4.2% at $3,995.14
Binance coin down 3.37% at $562.72
Tether up 0.09% at $1,001
Solana down 7.03% at $169.06
USD coin up 0.16% at $1,001
Cardano down 5.79% at $1.232
XRP down 4.42% at $0.8213
Polkadot up 0.08% at $27.63
Terra down 8.39% at $62.63
Dogecoin down 3.56% at $0.1
This means that there are still large losses on the part of many investors who had entered the market at relatively high prices. One could foresee the price movement after yesterday’s U.S. inflation figures are running hot, which leads investors into safe investments. U.S. inflation numbers climbed to their highest level in 40 years yesterday at 6.8% YoY. This puts strong pressure on the Fed to rethink its monetary policy and hold out the prospect of an early rate hike. Should an interest rate hike come, this could lead to further sell-offs not only in crypto markets but also in stock markets. The crypto market is considered a risky asset class.