Bitcoin Plummets to One-Month Low Amid Outflows and Rising US Rates!
Key Points:
- Bitcoin dropped to a one-month low, falling 2.7% to trade around $65,300 amid concerns over outflows from digital-asset products.
- Digital-asset products witnessed $600 million in outflows last week, the highest since March, signalling cautious investor sentiment.
Bitcoin plummets to one-month low as concerns over outflows from digital-asset investments and higher-for-longer U.S. borrowing costs hit cryptocurrencies.
Bitcoin tumbled 2.7% on Tuesday, touching $65,300 as of 10:26 a.m. in Singapore. Other cryptocurrencies, like Ether, Solana, and even Dogecoin, also tumbled.
CoinShares International Ltd., in the update last week, $600 million in outflows from digital-asset products became the single largest weekly withdrawal since March. The trend has only overstated in times of heightened cautiousness among investors amid relentless pressure from inflation, which dented hopes of Federal Reserve interest-rate cuts any time soon. The reluctance to reduce rates poses a challenge for speculative investments like cryptocurrencies that thrive in low-interest-rate environments.
Read more: Spot Ethereum ETF vs. Spot Bitcoin ETF: Investments That Will Explode In The Future
Cryptocurrency Market Dips as Investors React to US Borrowing Costs
On a quarter-to-date basis, traditional financial assets such as equities and fixed income outperform Bitcoin, reversing last quarter’s performance. Digital assets outperformed traditional markets for the first three months of this year.
Investors are treading more carefully against such market sentiment, and cryptocurrencies’ value is checked against more traditional and stable investment avenues. The many wild swings that characterize the cryptocurrency market persist despite increasing scrutiny by retail and institutional investors alike, against the backdrop of continued uncertainties in the global economy, including inflationary pressures and monetary policy adjustments.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Bitcoin Plummets to One-Month Low Amid Outflows and Rising US Rates!
Key Points:
- Bitcoin dropped to a one-month low, falling 2.7% to trade around $65,300 amid concerns over outflows from digital-asset products.
- Digital-asset products witnessed $600 million in outflows last week, the highest since March, signalling cautious investor sentiment.
Bitcoin plummets to one-month low as concerns over outflows from digital-asset investments and higher-for-longer U.S. borrowing costs hit cryptocurrencies.
Bitcoin tumbled 2.7% on Tuesday, touching $65,300 as of 10:26 a.m. in Singapore. Other cryptocurrencies, like Ether, Solana, and even Dogecoin, also tumbled.
CoinShares International Ltd., in the update last week, $600 million in outflows from digital-asset products became the single largest weekly withdrawal since March. The trend has only overstated in times of heightened cautiousness among investors amid relentless pressure from inflation, which dented hopes of Federal Reserve interest-rate cuts any time soon. The reluctance to reduce rates poses a challenge for speculative investments like cryptocurrencies that thrive in low-interest-rate environments.
Read more: Spot Ethereum ETF vs. Spot Bitcoin ETF: Investments That Will Explode In The Future
Cryptocurrency Market Dips as Investors React to US Borrowing Costs
On a quarter-to-date basis, traditional financial assets such as equities and fixed income outperform Bitcoin, reversing last quarter’s performance. Digital assets outperformed traditional markets for the first three months of this year.
Investors are treading more carefully against such market sentiment, and cryptocurrencies’ value is checked against more traditional and stable investment avenues. The many wild swings that characterize the cryptocurrency market persist despite increasing scrutiny by retail and institutional investors alike, against the backdrop of continued uncertainties in the global economy, including inflationary pressures and monetary policy adjustments.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Press Releases
PlayDoge ($PLAY) Achieves $5 Million Milestone in ICO, a Tamagotchi-Style Meme Coin
News
Notcoin Token Airdrop Is Superior to zkSync and LayerZero in Number of Users and Value
News
ZkSync Token Launch Doesn’t Bring Excitement as Expected as Price Continues to Drop
News
Circle USDC Stablecoin May Be The Biggest Beneficiary Under New European Guidelines
Press Releases
After Raising $5 Million, Sealana Announces Presale Ends in 5 Days – Last Chance to Buy
News
LayerZero Foundation Launches Airdrop Eligibility Checker for EVM and Aptos Addresses!
Knowledge
Everyone Is An Analyst: Recommend 7 Free On-chain Data Analysis Tools
News
Ripple’s XRP Sale Worth $78 Million Is Putting Great Pressure on Token Prices
News
Bitcoin Whale Wallets With Over 1,000 BTC Are Almost At A New All Time High
Latest
Missing Cryptoqueen Ruja Ignatova Wanted in US With New $5 Million Reward
Blast Airdrop Claim Now Live With 17 Billion Tokens For Community
Press Release
Copper & Sui partner to build out full institutional accessibility
Minutes Network closes in on its first 1.2 billion users with Smart Energy Water
