Bitcoin sank below $59,000 having spent much of the weekend above the $60,000 mark. BTC traded around $58,550 in the European morning, a drop of 2.4% over 24 hours at the start of a week in which traders worldwide expect the Federal Reserve to make its first interest-rate cut in more than four years. The broader digital asset market as measured by the CoinDesk 20 Index (CD20) is 3.6% lower. Crypto markets were buoyed by favorable U.S. economic data on Friday, which sparked a short-term rally. Bitcoin ETFs saw inflows of over $263 million, their highest since July 22, while the ether equivalents added around $1.5 million.
Related posts
-
Microstrategy Announces $700M Private Offering for Debt Buyback and Bitcoin Acquisition
On Monday, U.S.-based Microstrategy, the publicly traded business intelligence (BI) company, unveiled plans for a private... -
Bitcoin L2 BOB Launches ‘One-Click’ BTC Staking Solution
BOB (Build on Bitcoin), a hybrid layer two (L2) solution integrating Bitcoin and Ethereum, has launched... -
Another Bitcoin Miner Adopts MicroStrategy (MSTR) Playbook of Buying BTC in Open Market
“Indeed, nine of the 10 largest (by market capitalization) publicly listed bitcoin mining companies hold less...