Major coins traded lower on Wednesday night as investors reacted to the possibility of an ensuing European banking crisis Worry about Credit Suisse Group CS.
| cryptocurrency | Profits (+/-) | Price (taken at 9:30pm EST) |
|---|---|---|
| Bitcoin | -2.50% | $24,346 |
| ether | -3.97% | $1,649 |
| Dogecoins | -7.78% |
$0.069
|
What happened: Apex cryptocurrency Bitcoin BTC/USD experienced strong volatility, falling to $23,946 before quickly regaining ground to trade at $24,346. That was still a good chunk off its highs from the previous day when it surged above $26,000 in response to slightly optimistic February CPI inflation data.
ether ETH/USD fell about 3.97% to below $1,700. Dogecoins DOGE/USD was trading at $0.069, down 7.78% in the last 24 hours.
At the time of writing, the cryptocurrency’s global market cap was $1.06 trillion, down 3.74% from the last day.
US stocks traded mixed on Wednesday. The S&P 500 fell 0.7%, while the Nasdaq Composite posted a small gain, rising 0.05%.
See more: Best Crypto Day Trading Strategies
News Highlights: Coinbase Global COIN on Wednesday said it was preparing to end support for six Ethereum-based altcoins: rally RLY/USD, DFI money YFII/USD, Mirror MIR/USD, OMG network OMG/USD, loom network LOOM/USDAnd augur REP/USD.
Euler Finance sent a message to the hackers that caused the platform to lose nearly $200 million in assets: “If 90% of the funds are not returned within 24 hours, tomorrow we will offer a $1 million reward.” Expose dollars for information leading to your arrest and return of all funds.”
Analyst Notes: “Bitcoin weakened as the chaos on Wall Street saw another banking crisis sparking another wave of panic selling of risky assets. Credit Suisse is a bigger story than SVB, and that’s making Wall Street extremely nervous. Bitcoin’s demise isn’t that bad considering how much…
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