Published on 16 Aug 2023 on Forkast News via Yahoo Finance
Cryptos decline on the back of Wall Street losses and Fed speculation
Bitcoin and Ether fell on Wednesday morning in Asia, along with other top 10 non-stablecoin cryptocurrencies by market capitalization. Polygon’s MATIC led the losers, while Cardano’s ADA also dipped on news Binance will axe perpetual contracts for the two tokens. Elsewhere, the Forkast 500 NFT index moved down, although changes in trading habits have market analysts predicting good times ahead. In the U.S., stock futures steadied after a rocky Tuesday. Stronger than expected sales data left investors fearing the Fed’s rate hiking cycle may continue. Ratings agency Fitch dampened investor sentiment further by suggesting it could downgrade a number of major U.S. banks.
Crypto down