Largest tokens decline, with derivatives signaling caution ahead
Bulls took a breather over the past 24 hours as risk-off sentiment swept through global markets, pushing bitcoin back toward $88,000.
Even though the Federal Reserve’s decision to hold interest rates steady at 3.5%-3.75% was widely expected, growing geopolitical tensions and a rotation into safe-haven assets left crypto traders facing a sea of red.
Major stock indexes in the U.S. saw a mix of optimism and a retreat in response, with the S&P 500 briefly topping 7,000 for the first time before pulling back. Those indexes are being heavily influenced by earnings reports from the largest companies this week.
But in crypto, risk-off sentiment hit hard. Bitcoin slid, and the broader CoinDesk 20 (CD20) index lost 2.9%.
That exodus…
