Bitcoin has declined only about 1% over the past 24 hours and remains near $75,000 despite several adverse developments. Investors are navigating turbulence caused by a roughly $6.3 billion hack targeting Binance, a Democratic takeover of Congress, a more than 5% drop in the Nasdaq and revelations concerning Nvidia CEO Jensen Huang. Tuesday’s inflation report and expectations of a December Federal Reserve rate hike add further pressure on crypto markets. Bitcoin’s resilience may reflect the fact that much of the bad news was already priced in. Ether has lost nearly 5% in a day and XRP nearly 12% over a week, confirming that alternative cryptocurrencies are experiencing steeper corrections than Bitcoin.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
