39.56 F
London
December 23, 2024
PI Global Investments
Bitcoin

Fervor for Crypto Memecoins Like Pepe, Dogwifhat Stalls as Fed Rate Bets Shift


Bitcoin dropped the most in almost two weeks, weighed down by cooling demand for dedicated US exchange-traded funds and ebbing bets on looser Federal Reserve monetary policy.

The digital asset fell as much as 7.4%, the biggest intraday decline since March 19, and traded around $65,400 at 10:09 a.m. in New York. Tokens earlier favored by the meme crowd such as Pepe and dogwifhat also slumped, sending a gauge of smaller digital assets sharply lower. The crypto declines came as equities markets in Europe and the US also dropped.



Source link

Related posts

Bitcoin: Is Mt. Gox’s $2.9B BTC transfer signaling a market turmoil?

D.William

I was wrong. Why I changed my opinion on Bitcoin in 2024.

D.William

Japan Stocks Rally as Asia Mixed, Bitcoin Steadies: Markets Wrap

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.