The major coins were trading in the red late Thursday night as the market cap fell 2.69% to $1.08 trillion over the past 24 hours.
| cryptocurrency | Profits (+/-) | Price (taken at 8:00 p.m. EST) |
|---|---|---|
| Bitcoin | -3.64% | $23,736 |
| ether | -1.88% | $1,657 |
| Dogecoins | -3.76% | $0.086 |
What happened: The largest cryptocurrency by market value Bitcoin BTC/USD took a sharp turn on Thursday, falling from $25,000 to a low of $23,736.
ether ETH/USD Following in similar footsteps as Bitcoin, it experienced a meteoric surge to above $1,700 for two consecutive days before staging a pullback. ETH changed hands at $1,657 up 1.88% in the last 24 hours.
Dogecoins DOGE/USD was down 3.76% in the last 24 hours to trade at $0.086.
The US stock markets have recently reacted negatively PPI data, with the tech-heavy Nasdaq Composite down 1.78%, and the S&P500 down 1.38%.
See more: Best Crypto Day Trading Strategies
Bitcoin surged in value on Thursday, but investors soon began to reconsider their decision amid mounting concerns about inflation and Federal Reserve monetary policy.
In the breaking news, a New York judge countered the criminal fraud case Sam Bankman Fried has issued a warning that he may revoke bail if Bankman-Fried continues to challenge his bail terms. Decentralized Finance Protocol (DeFi). Platypus Finance was recently hit by a flash loan attack, resulting in a potential loss of $8.5 million.
Analyst Notes: “A big move in bitcoin is upon us. In the past week, a large wave of institutional funds has hit exchanges, $1.6 billion according to data from Lookonchain. Much of this money is leaving stablecoins, including USD coins issued by Circle. The fate of stablecoins will be decided in the near future, but many don’t expect regulators to destroy the entire space. Every day that we don’t see bitcoin breaking, sellers become less patient. Bitcoin is showing strong…
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