Bitcoin and Ethereum continue to plummet as investors seek safe havens
Cryptocurrencies continued to fall, with bitcoin dropping below a key support level, as investors dumped riskier assets ahead of the latest US inflation data. Bitcoin was down 5.7% to US$39,914, while its closest rival by market value, Ethereum, gave up 5.5% to US$3,008.
Timeline of Bitcoin, Ethereum
Bitcoin and Ethereum at 3-week lows as inflation fears continue to weigh - Proactive Investors
Cryptocurrencies continued to languish at three-week lows as rampant inflation in the UK added to ongoing concerns over the health of the global economy. Bitcoin edged just 0.3% higher to US$40,134, but still held above the key $40,000 support level.
Bitcoin and Ethereum fall below key support levels; fundamentals 'moving in the right direction' - Proactive Investors
Cryptocurrencies languished, mirroring equity markets, although regulation and fundamentals are “moving in the right direction”. Bitcoin, the largest coin by market cap, fell 1.84% to US$38,979, falling and staying below the key support level of US$40,000.
Bitcoin and Ethereum fall below key support levels, offsetting yesterday's gains - Proactive Investors
Bitcoin and Ethereum offset yesterday's gains, tumbling back below key support levels as the tech-heavy Nasdaq slipped to its lowest level in a month. The largest coin by market cap, Bitcoin, fell 4.29% to US$38,740, while Ethereum lost 4% to US$2,874.
Bitcoin and Ethereum recover ground as global tech indices remain flat - Proactive Investors
Bitcoin and Ethereum recovered some ground, with most other cryptos languishing as the Nasdaq remained flat despite “pretty decent quarterly earnings” from Meta. The largest coin by market cap gained 2.38% to US$39,390 to offset some of yesterday's losses, although it is still trading below its key support level of US$40,000.
Bitcoin and Ethereum make gains in what is another mixed day for crypto market - Proactive Investors
Bitcoin and Ethereum both added to gains after their midweek recovery, although it has been a mixed bag for the crypto market with many coins in the red, despite more positive sentiment in stock markets. The largest coin by market cap climbed back above the US$40,000 mark overnight but was unable to trade above its key support level for any sustained period, gaining only 0.32% to US$39,508 over the past 24 hours.
Bitcoin and Ethereum continue to languish as crypto bears prevail - Proactive Investors
Bitcoin and Ethereum were trading largely sideways on Tuesday morning after sinking to lows over the weekend. After sinking below US$38K on Saturday, the largest cryptocurrency by market value continued to languish below its key support level of US$40,000, giving up 0.6% to US$38,615 over the past 24 hours.
Bored Ape creators crash Ethereum's blockchain after NFT sale - Proactive Investors
Yuga Labs, the company behind the Bored Ape Yacht Club non-fungible tokens (NFT), caused the Ethereum network to crash temporarily after a sale of metaverse plots of land overwhelmed the blockchain. Some 55,000 plots were sold for an upcoming multiplayer metaverse game called Otherside, with each plot sold at £4,500 or 305ApeCoin, a currency created by the company.
Bitcoin and Ethereum decline as eyes turn to US Fed rate decision - Proactive Investors
Cryptocurrencies looked set for consecutive red days, as surging inflation and Russia's invasion of Ukraine continued to shake investor confidence and steer them away from riskier assets toward safe havens. In the US, all eyes turned to the Federal Reserve's Wednesday decision on interest rates, which analysts expect to be increased by 0.5 percentage points and therefore make borrowing for consumers harder by further squeezing budgets.
Bitcoin and Ethereum sink just like wider markets - Proactive Investors
Bitcoin and Ethereum fell on Friday, mirroring global markets, following the decisions of the UK and US to hike interest rates again and the Bank of England's expectation that inflation may rise as high as 10% by the year end as a recession looms. Bitcoin fell 7.9% to US$36,446, a similar loss to that of Thursday's, while its biggest rival by market value, Ethereum, eased 6.3% lower to US$2,745.
Bitcoin and Ethereum sink further to 50% of all-time highs - Proactive Investors
Cryptocurrencies were set for their fifth consecutive red day as digital currencies continued to follow in the footsteps of wider markets, especially riskier ones such as technology assets. Bitcoin declined 3.6% to US$33,536 but was slightly outpaced in its fall by its closest rival by market value, Ethereum, which eased 4.2% lower to US$2,451.