CDS Crypto News Bitcoin Decline Continues with $25k as Global Economy Collapses
Crypto News

Bitcoin Decline Continues with $25k as Global Economy Collapses

Bitcoin decline has started to worry users.

420
Bitcoin Decline Continues with $25k as Global Economy Collapses

Crypto News – As global bond selling causes US Treasury yields to reach multi-year highs, the value of Bitcoin declines. Bloomberg reports that the Federal Reserve meeting will be scrutinized for hints about future policies.

Bitcoin Decline Continues with $25k as Global Economy Collapses

The largest digital asset decreased by almost 1% on Monday, trading close to a two-month low of $26,000. Ether and XRP, two additional cryptocurrencies, also saw a decrease.

Jerome Powell’s Remarks Will Inform Policy Direction

The annual symposium of the Federal Reserve will be held in Jackson Hole this week, and it will be widely observed. Fed Chair Jerome Powell’s remarks on Friday are anticipated to provide hints about the direction of policy. The 10-year US Treasury yield has risen over 4.33%, and analysts are pessimistic about the outcome, anticipating a further 2% to 3% decline in the S&P 500 stock index. According to reports, Bitcoin‘s drop has reached roughly $25,000.

The possibility of US spot Bitcoin and Ether futures exchange-traded funds, which are now being applied for, has some in the cryptocurrency business optimistic despite the macro risk. Other indicators, however, point to a reluctance among institutional and individual investors to invest in cryptocurrencies as a result of the market crash last year, failures like FTX, and a constantly changing regulatory environment.

Signals Create Mixed Charts

Some technical indicators that chart watchers study show that Bitcoin is getting close to the most oversold level since mid-2022. Some analysts, though, believe that if it drops below $25,700, the economy may be about to undergo a severe contraction.

The decline in the value of bitcoin last week was the biggest since the demise of the FTX cryptocurrency exchange in the fourth quarter of 2022, and its gain for the year as a whole is now only 57%, down from 90% through mid-July.

Bitcoin Decline Continues with $25k as Global Economy Collapses
Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Breaking Crypto News – Overcoming Obstacles: Altcoin Investor Strategies in Today’s Market

Breaking Crypto News - Overcoming Obstacles: Altcoin Investor Strategies in Today's Market

Breaking Crypto News – Key Factors Influencing PEPE Coin Price Bounces

Breaking Crypto News - Key Factors Influencing PEPE Coin Price Bounces

Crypto News – Digital Assets Gain Momentum as Pathway to US Dollar Exposure

Exploring This Week's Crypto Business: Hashdex Files for a Dual Bitcoin and...

Solana Meme Coin Advertisement Posted via 50 Cent’s Hacked Twitter

Solana Meme Coin Promoted Through 50 Cent’s Compromised Twitter Account Solana Meme...