Bitcoin remained under $26.5K, where it dipped early Wednesday following discouraging UK inflation data. Investors weighed the US debt ceiling impasse and FOMC minutes from earlier this month. JPRubin23 writes
The release of the most recentlater in the day showing U.S. central bankers divided on a continuation of interest rate hikes did little to boost market confidence.
In an email to CoinDesk, Ruslan Lienkha, chief of markets at fintech platform YouHodler, wrote that “increased tension in financial markets” had buffeted equities and digital assets. Ether was recently changing hands at about $1,808, off approximately 2.6% from Tuesday, same time. Most major cryptos spent Wednesday firmly in the red with LTC and SOL, the token of the Solana smart contracts platform tumbling more than 5.2% and 3.6%, respectively. The, a measure of crypto markets performance, fell 2.8%. The CoinDesk Bitcoin Trend Indicator remained in downtrend territory, where it recently dropped – a reflection of the falling investor optimism.
In an interview with CoinDesk TV Wednesday, Glen Goodman, author of “The Crypto Trader,” noted that bitcoin had recently maintained more of a connection to the price of gold, a traditional safe haven asset. But he added that BTC still lacked some consistent motivation to account for investor decisions about buying and selling.
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