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Reason for the Market Fall ( COVID politics; stocks and USD )
Cryptocurrency decline follows Wall Street losses on Thursday. The Nasdaq is down almost 5% this week, and the S&P 500 has fallen for the third week in a row.
As US 10-year Treasury yields soared earlier this week, rising rates forced investors to abandon their positions in riskier assets. Yields move in the opposite direction to prices. U.S Fed Tapering is bad for unregulated markets like crypto. Tapering is the process in which the Fed slows down its purchases of new assets, including securities and bonds. Fed tapering and increasing interest rates could cause global liquidity to shrink and ultimately affect bitcoin’s price.
The crypto industry has faced several regulatory setbacks recently as skepticism about the rapid growth of digital assets around the world. Cryptocurrency exchanges will be the focus of the US Securities and Exchange Commission regarding digital assets in 2022. Russia’s central bank yesterday proposed a ban on bitcoin mining and cryptocurrency trading all across Russia.
Crypto funds have seen outflows for the fifth straight week, digital asset manager CoinShares said in a report, net outflows of digital asset investment products for the week ended Jan. 14 totaled $73 million
- Please push the like button if you like the content or drop a comment to share your idea!
Reason for the Market Fall ( COVID politics; stocks and USD )
Cryptocurrency decline follows Wall Street losses on Thursday. The Nasdaq is down almost 5% this week, and the S&P 500 has fallen for the third week in a row.
As US 10-year Treasury yields soared earlier this week, rising rates forced investors to abandon their positions in riskier assets. Yields move in the opposite direction to prices. U.S Fed Tapering is bad for unregulated markets like crypto. Tapering is the process in which the Fed slows down its purchases of new assets, including securities and bonds. Fed tapering and increasing interest rates could cause global liquidity to shrink and ultimately affect bitcoin’s price.
The crypto industry has faced several regulatory setbacks recently as skepticism about the rapid growth of digital assets around the world. Cryptocurrency exchanges will be the focus of the US Securities and Exchange Commission regarding digital assets in 2022. Russia’s central bank yesterday proposed a ban on bitcoin mining and cryptocurrency trading all across Russia.
Crypto funds have seen outflows for the fifth straight week, digital asset manager CoinShares said in a report, net outflows of digital asset investment products for the week ended Jan. 14 totaled $73 million