Crypto markets bleed $182bn amidst Fed uncertainty – DL News
- Bitcoin dropped below $106,000 on Monday.
- It comes amidst uncertainties about the Fed’s next meeting.
Crypto markets plunged almost 5% on Monday, shaving about $182 billion of the total market’s value as Bitcoin fell to $105,540.
Both the overall market and the main cryptocurrency have recovered slightly. They are now worth $3.6 trillion and $107,149, respectively.
While it’s unclear what triggered this latest sharp decline, it comes on the back of US Federal Reserve Chair Jerome Powell signalling last week that a December interest rate cut is not a foregone conclusion.
This “dampened investors’ expectations for looser financial conditions going forward in the short-term,” Simon Peters, crypto analyst at trading platform eToro,…
