U.S. stock indexes closed lower Friday, capping another punishing week for growth and technology stocks as investors await a Federal Reserve update next week on how aggressively interest rates may rise and financial conditions tighten to tame inflation. The Nasdaq Composite Index led the three stock benchmarks lower Friday, ending down 2.7%, but off 7.6% for the week, which was its worst weekly decline since March 2020, according to Dow Jones Market Data. The Nasdaq also entered correction territory mid-week, commonly measured as at least a 10% decline from its recent record close, and recorded its worst start to a year through Friday since the 2008 global financial crisis. Rising 10-year Treasury yields, up about 25 basis points near 1.74% this year, also have pressured speculative stocks and total returns of riskier assets. The S&P 500 index tumbled 1.9% Friday and 5.7% for the week, while the Dow Jones Industrial Average fell 1.3% for the session and 4.6% for the week, pulled lower in part by jitters about pinched margins as major banks kicked off fourth-quarter earnings.
U.S. equity gauges on Friday end sharply lower, capping a withering week for investors, highlighted by a 5.7% weekly slide for the S&P 500 and the technology-laden Nasdaq Composite since March of 2020.
All of the largest cryptocurrencies were down during morning trading on Friday, with Ethereum (ETHUSD) seeing the biggest move, tumbling 9.54% to $2,789.92. Litecoin (LTCUSD) declined 8.97% to $121.94, and Ripple (XRPUSD) declined 7.79% to 68 cents.
(Jan 21): Cryptocurrencies sank on Friday (Jan 21), taking Bitcoin to the lowest level in more than five months as risk aversion again swept across global markets. The largest cryptocurrency dropped as much as 7.4% to US$38,261 (about RM160,141), while second-ranked Ether slid below US$3,000. Digital tokens overall have shed some US$1 trillion in value since a November peak.
Sales of NFTs reached around US$25 billion last year as the speculative crypto asset exploded in popularity. But there was sign of growth slowing toward the end of the year. This is compared to just US$94.9 million in sales the year before. What’s the difference between Bitcoin and NFTs, again?...
The cryptocurrency market is continuing its new year slump. On Monday morning, the price of bitcoin, the largest cryptocurrency by market value, fell below $40,000 for the first time since September, dropping to $39,771, according to Coin Metrics. It's currently trading at around $41,530. Ether, the second-largest, also fell, going...
Jurrien Timmer, a macro strategist at financial giant Fidelity, says that Bitcoin (BTC) may have found a new level of support that’s 33% higher than previously believed. In a thread to his 80,000 Twitter followers, Timmer says that a little-known metric called “dormancy flow” might be the key to pegging Bitcoin’s bottom at $40,000.
Bitcoin dipped below $40,000 on Monday for the first time since September 2021. It joins a broader crypto slump in the wake of a risk-off shift spurred by a hawkish Fed. Bitcoin saw outflows totaling $107 million last week in what CoinShares believed was a "direct response to the FOMC minutes."
Bitcoin and other main altcoins fell on Tuesday, with the exception of Cardano, which maintained its upward momentum after reaching the highest levels since the end of December. The world's leading cryptocurrency decided to ignore the positive signals coming from the options market and touched almost one-week lows on Monday, below $42,000, leading some analysts to believe that a new fall towards $40,000 is in the offing. Total capitalization is barely over $2 trillion.
(Kitco News) - Bitcoin is not having a good year so far. After unprecedented moves in 2021, the leading digital currency is seeing the worst start to the new year in its relatively short history. Monday, Bitcoin dropped below $40,000 an ounce, falling to its lowest level since early August....
Bitcoin on Monday briefly dipped below $40,000 USD and Ethereum sunk to just under $3,000 USD before leveling off later in the day. According to Coinbase, Bitcoin dropped to $39,650 USD at around 9:30 a.m. ET before climbing back up to about $41,700 by close of trading. Ethereum sunk to $2,929.60 in early morning trading before ending the day at $3,086 USD.