The Bitcoin, Ethereum, Binance Coin, Cardano, and Polkadot logos, left to right, are on display inside a cryptocurrency exchange in Barcelona, Spain, on Wednesday. (Photo: Bloomberg)
Bitcoin dropped back below US$40,000, erasing nearly all gains sparked by optimism about US President Joe Biden’s executive order on crypto, as digital currencies fell with stocks Thursday amid high inflation data and continued geopolitical uncertainty.
The largest cryptocurrency declined as much as 7.9% to $38,582 on Thursday, falling for the first time in three days. Ether fell as much as 5.7% to $2,553. Most of the top cryptocurrencies were down at least slightly in the 24 hours prior to 9.30am New York time, according to pricing from CoinGecko.
US stocks and other risk-on assets are under pressure after the nation’s…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
