Major coins were trading in the red late Sunday as globally cryptocurrency Market cap fell 0.9% to $1 trillion.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -0.3% | -5% | $21,765.19 |
| ether ETH/USD | -1.4% | -7% | $1,570.81 |
| Dogecoins DOGE/USD | -0.7% | -11% | $0.08 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| rendering token (RNDR) | +11.9% | $1.60 |
| stack (STX) | +12.8% | $0.325 |
| internet computer (ICP) | +7.4% | $5.60 |
See also: Best Crypto Hardware Wallets in 2023
What happened: Both Bitcoin And ether were lower along with other risky assets at the time of writing as both S&P and Nasdaq futures were flashing red.
Risk assets came under pressure last week after the Federal Reserve Chairman Jerome Powell said interest rates could continue to rise if inflation doesn’t ease.
“For example, if we continue to get strong jobs reports or higher inflation reports, we may well have to do more and raise rates more than what’s priced in,” Powell said. reported CNBC.
“Risk aversion seems to be in place and that could persist if next week’s inflation report is hot. Investors could be making bets on how high the Fed will have to take interest rates and that could support a broad downside move for all risky assets, especially crypto,” he said Edward Moyaa senior market analyst at OANDA, on Friday.
Alternative.me’s Crypto Fear & Greed Index, which read Greed last week, was reading Neutral at the time of writing, indicating a drop in investor sentiment.
cryptocurrency trader Michael van de Poppe Noting the slew of data investors are looking forward to in the new trading week, including CPI numbers on Tuesday and retail sales and PPI numbers on Wednesday and Friday respectively.
“My thoughts are that inflation will likely continue to fall and fall steeply,” said Van de Poppe…
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