Ethereum and Bitcoin gold tokens

Bitcoin, Ether fall along with all top 10 cryptos as investors await consumption index

Posted on


Bitcoin and Ether fell during Asian trading hours on Friday, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Most Asian equities were down, despite Wall Street’s overnight performance, as investors anticipated the release of the Personal Consumption Expenditure Price index (PCE).

See related article: FTX Donations Clawback

Fast facts

  • Bitcoin slid 2.35% to US$23,849 in the 24 hours to 4:30 p.m. in Hong Kong. Ether fell 1.02% to change hands at US$1,652, according to CoinMarketCap data.
  • The rest of the top 10 cryptos also fell on the day, with Polkadot’s Dot as the biggest loser as it fell 3.67% to US$7.05, followed by Polygon’s Matic that lost 3.45% to US$1.35.
  • The global cryptocurrency market capitalization decreased by 1.95% to US$1.09 trillion in the 24 hours to 4:30 p.m. in Hong Kong, with total crypto market trading volume down by 6.33% to US$56.02 billion.
  • Asian equities were down on Friday, despite Wall Street’s overnight uptrend, as investors anticipated the upcoming release of the PCE index – the Federal Reserve’s preferred price gauge that includes food and energy prices. The PCE is forecast to be up 4.9% year-over-year, compared to 5% in December.
  • The Shanghai Composite slid 0.62% and the Shenzhen Component Index lost 0.81%. Hong Kong’s Hang Seng Index fell 1.68% and Japan’s Nikkei 225 ended the day 1.29% higher.
  • European bourses rose for the second consecutive day, with Germany’s DAX 40 up 0.1% and the Stoxx 600 up nearly 0.3% despite Germany’s GDP shrinking 0.4% last quarter, twice the estimated 0.2% increase in GDP.
  • Gold fell to US$1,820 per ounce on Friday and is set to close the week 1% lower, at its weakest price level this year, pressured by the upcoming PCE index and the release of minutes from the Federal Open Market Committee’s latest meeting that revealed a willingness to raise interest rates further.

See related article: Web3 isn’t just about money, it’s about equality and transparency, says Mysten Labs co-founder



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *