BTC - Why Major Cryptocurrency Assets Like Bitcoin Sank Today
2023-08-17 19:30:24 ET
Cryptocurrencies looked ready to stumble into the weekend on Thursday. Many were hit with investor sell-offs, and while few of these were drastic, they did drain value from the affected coins and tokens.
Bitcoin (CRYPTO: BTC) , as ever, set the pace. The most popular cryptocurrency by far was down by nearly 4% in price over the preceding 24 hours; ditto for fellow high-profile coin Ethereum (CRYPTO: ETH) . Crypto-adjacent assets weren't spared, either; for example, Riot Platforms (NASDAQ: RIOT) stock closed the day down almost 11% in price.
Wise crypto investors keep a sharp eye on the actions and pronouncements of the Fed , as monetary policy can have a great impact on digital money.
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Why Major Cryptocurrency Assets Like Bitcoin Sank Today