Crypto Markets Under Pressure Amid Rate Hike Signals
Cryptocurrency markets are experiencing downward pressure, with Bitcoin sliding to approximately $US86,000 and Ethereum dipping below $US2800 ($4278). These declines coincided with Japan’s two-year government bond yield reaching a 17-year high of 1.01 per cent. This surge followed signals from Bank of Japan governor Kazuo Ueda indicating a potential rate hike.
According to Zerocap analyst Emir Ibrahim, weak Bitcoin exchange-traded funds (ETFs) inflows and limited dip-buying suggest that structural demand remains muted. This observation points to underlying concerns about the strength of the cryptocurrency market’s foundation. Zerocap is a digital asset investment firm providing wealth and investment management services, along…
