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Bitcoin slumps alongside ether on Fed’s plans to raise interest rates
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Cryptocurrencies led by bitcoin and ether slumped as part of the broader tech selloff, cementing their status among investors as risky assets quickly dumped in moments of market stress.
The falls were triggered by Federal Reserve minutes that showed officials are eyeing a faster timetable for raising interest rates this year. As rates rise, holding volatile investments that produce little income becomes less attractive compared with government bonds.
Bitcoin...
Read more on fnlondon.comAbout this in other media
Top cryptocurrency prices today: Bitcoin holds above $35,000; altcoins show strength economictimes.indiatimes.com /2 years ago
U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest Rates wsj.com /2 years ago
Top cryptocurrency prices today: Bitcoin, Terra, Solana gain; Cardano drops 7% economictimes.indiatimes.com /2 years ago
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