CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Bitcoin drops below $80,000 as crypto ignores Asian tech rally, Fed meeting begins

CoinDesk logo

Published on

Add as a preferred source on Google
Bitcoin drops below $80,000 as crypto ignores Asian tech rally, Fed meeting begins

Bitcoin BTC$84,459.46 slipped below $80,000 on Tuesday, dropping 0.4% since midnight UTC to near $79,700. Altcoins fell further, with ether ETH$2,490.55, the largest, losing 0.5%. The DeFi index (DFX) dropped 1.8%, the most of any CoinDesk index, a reversal from Monday, when it was the only index to gain.

U.S. stock index futures edged lower ahead of big-tech earnings later this week. Asian tech shares rallied, with South Korea’s Kospi rising 3.1%, though the advance didn’t pull crypto along with it. Oil rose, with U.S. crude approaching $102 a barrel.

The Federal Reserve begins a two-day meeting today, with an interest-rate decision on Wednesday and CME’s FedWatch tool showing around a 90% chance of no change. Traders will be looking for clues on whether another rate increase is likely before year-end. U.S. spot bitcoin ETFs took in $110 million on Monday, according to Farside Investors, ending two days of outflows.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.



Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.