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Headline : Bitcoin and Ethereum resurge as interest rate remains unchanged in US

Read more from the original article on here at nairametrics.com.






Tags : #bitcoin #ethereum #resurge #interest #rate #remains #unchanged #us


No. of Paragraph 22

Bitcoin and Ethereum have resurged in price following a rough week caused by speculation over an important Federal Reserve meeting and its outcome as regards interest rates in the United States.

According to Decrypt, Bitcoin price at the time of writing this report was around $57,700 after having made a 0.5% recovery in the past 24 hours. And the Ethereum price, after climbing 2.3% in the past day, is now trading for just below $3,000,

Notwithstanding, the damage to the crypto market has already been done as the past 24 hours witnessed another $193 million worth of crypto futures contracts liquidated, adding to the $300 million worth of liquidations seen earlier this week.

Economist, Trader, and Crypto Analyst Alex Kruger explained the complexities of this current cycle and how it feels different for traders because it’s largely been driven by interest in spot Bitcoin ETFs, which only just started trading in January this year.

Read more from the original article on here at nairametrics.com.


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