Krypto para market, Bitcoin ve Ethereum’un is experiencing a significant decline, leading to a decline.
The pullback in digital assets follows a decline in stocks that has rattled global markets. “After a bad night for stocks in the U.S., crypto, like most asset classes, seems to be seeing some flow-on sentiment,” said Benjamin Celermajer, co-chief investment officer at Magnet Capital.
The U.S. stock market had its worst day since 2022 on Wednesday, with mega-cap technology stocks tumbling. The pullback dampened investor sentiment, with major U.S. stock indexes mostly lower today.
The yen rose to its highest level against the dollar in more than two months at one point, reflecting growing bets that the interest rate differential between Japan and the U.S. was likely to narrow. “Yesterday night, the yen strengthened against the dollar while crypto, gold and oil fell,” said Andrew Stein, an analyst at Fintech Partners.
Elsewhere, eight new spot Ethereum ETFs launched in the U.S. on Tuesday. The largest, the six-year-old Grayscale Ethereum Trust, with $8 billion in ETH assets, converted from a closed-end ETF. The conversion makes it easier for arbitrageurs to exit, and $811 million has exited the product since the change. That’s prompted some caution even as other Ethereum ETFs have pulled out. “The Grayscale exits have been huge, and that’s led to underperformance and disappointment,” Stein added.
Noelle Acheson, author of the Crypto Is Macro Now newsletter, wrote that there may have been some “sell the news” pressure on ETH following the ETF launch, and that this could “dry up soon” if market sentiment allows.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoin-ve-kripto-para-piyasasi-bugun-neden-dustu-iste-uzmanlarin-aciklamalari/
