The Magazine for Asian Investors
Bitcoin continues to weaken after the recent uptrend that lasted several days. Today (April 1) the price fell 3.33% to $45,667.19.
Bitcoin moved into negative territory this morning after the Dow Jones Industrial Average fell 550 points yesterday (Thursday, March 31). In addition, the Personal Consumption Expenditure (PCE) price index rose to its highest level in nearly 40 years.
- The Dow Jones Industrial Average fell 550.46 points, or 1.56%, to close at 34,678.35.
- The S&P 500 was down 72.04 points, or 1.57%, to close at 4,530.41.
- The NASDAQ fell 221.76 points, or 1.54%, to close at 14,220.52.
Movement in the Crypto Space
Recently, the EU is preparing to change the rules for crypto policy, which could harm the market.
Now, as the European Union (EU) is set to hold another important vote that could impact crypto markets, the Coinbase CEO has spoken out against what he sees as an unsafe policy and called for a new review.
On Thursday, March 31, the EU Parliament will vote on the adoption of an amendment to the Remittance Regulation. The Coinbase CEO believes that the consequences will be catastrophic.
“The amendment to the rules would bring total surveillance on exchanges like Coinbase, curbing innovation and undermining the personal wallets they use to securely protect their digital assets,”said Coinbase Chief Legal Officer Paul Grewal.
The Spot Market is Open
Friday, April 1, 2022