Crypto Assets Slide While Bitcoin Clings Above $108,000
What’s going on here?
Major digital currencies took a hit, but bitcoin is holding steady above $108,000 despite a slowdown in trading activity.
What does this mean?
The cryptocurrency market experienced a downturn as trading volumes fell by 8%, leading to a 0.7% drop in the industry’s total market value to $3.43 trillion. Bitcoin, the leader of the pack, declined 1.2% to $108,623 with a 15% slump in trading volume. Meanwhile, ethereum defied the trend with a 1.1% rise, hitting $2,806. Other notable cryptocurrencies saw slight decreases: XRP by 0.4%, Solana by 0.1%, and cardano by 0.7%. Traditional markets weren’t unscathed either—Nasdaq 100 slid 0.5% and S&P 500 fell 0.3%. US Treasury yields also dipped slightly, possibly indicating…
