.Coinbase revenues dwarf those of the decentralized exchange Uniswap, but the companies have similar daily volume and Uniswap has far fewer employees; BTC and other cryptos fall ahead of the FOMC meeting. JPRubin23 and TheSamReynolds report
Ten-year Treasury yield daily close: 2.82%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atAll eyes on the great and powerful Fed.
The largest cryptocurrency by market capitalization was recently trading at about $21,6000, down nearly 5% for the past 24 hours. Bitcoin began to sink early Monday as investors renewed fretting about the Federal Reserve and other central banks' ability to tame inflation without throwing the economy into a steep recession. Bitcoin has fallen four consecutive days since topping $24,000 last Wednesday and inspiring hopes that it had bottomed out.
"Cryptocurrencies are broadly weaker as investors await [a Federal Open Market Committee] decision that will likely conclude with a 75 basis point rate increase and reaffirm a commitment to fighting inflation," wrote Oanda Senior Analyst Americas Edward Moya in an email, although he added,"Rising geopolitical tensions might provide some underlying support for the dollar, which could drag down risk appetite, which would weigh on cryptos.
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