Institutions: Cryptocurrences have tumbled, and the market is still digesting the hint of Powell's interest rate cut last week
2024-08-27 22:39:02
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Cryptocurrences generally fell, with Bitcoin falling below the $60,000 mark and as low as close to the $58,000 mark. In addition, Ethereum suffered a sharp decline, expanding its intraday decline to 10%. Institutional analysts believe that major tokens are digesting the boost received last week from Federal Reserve Chairperson Jerome Powell's hint that the Federal Reserve will cut its base rate from a two-decade high.
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