Cryptocurrencies Dive as Global Economic Moves Roil Markets
Main Idea
The cryptocurrency market experienced significant fluctuations due to global economic developments, including new U.S. tariffs and reduced expectations for a rate cut, leading to declines in major cryptocurrencies like Bitcoin and Ether.
Key Points
1. Bitcoin lost 3% of its value, falling below $115,000, while Ether dropped 5.7% and XRP declined over 7%.
2. New U.S. tariffs on imported goods and a higher-than-expected PCE index reduced rate cut expectations from 56% to 39%.
3. The NFT market showed recovery, with total market capitalization doubling to $6.4 billion, led by CryptoPunks.
4. Technological advancements, such as Solana Mobile and Ethereum-based products, continued to develop.
5. Investors are cautious due to high market volatility influenced by global macroeconomic factors and new U.S. trade policies.
Description
Cryptocurrency market sees significant fluctuations due to new U.S. tariffs. Continue Reading: Cryptocurrencies Dive as Global Economic Moves Roil Markets The post Cryptocurrencies Dive as Global Economic Moves Roil Markets appeared first on COINTURK NEWS .
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