On Tuesday morning in Asia, Bitcoin dropped below the US$27,500 support level, with Ether and the majority of the top 10 non-stablecoin cryptocurrencies trading lower. The lone gainer in the top 10 was Litecoin, while XRP was the biggest loss. Prior to the release of first-quarter earnings reports and economic indicators, U.S. equities futures inched lower in Asia. According to Standard Chartered Bank, recent failures of conventional banks, a rise in mining income, and the probable end of the U.S. monetary tightening cycle might all contribute to Bitcoin reaching US$100,000 by the end of 2023. The cryptocurrency market has lost 11.09% during the last seven days, with a 1.20% decline in total market capitalization and a 28.71% increase in trading volume.
In the 24 hours leading up to 9:00 a.m. in Hong Kong, the Forkast 500 NFT index fell 0.57% to 3,755.63, dropping 7.23% for the week. The Dow Jones Industrial Average futures lost 0.04%, the S&P 500 fell 0.10%, and the Nasdaq Composite Index dipped 0.09% as U.S. stock futures traded sideways to lower. Real GDP in the United States is forecast to expand by 2.5% annually, while interest rates are now ranging from 4.75 to 5%.
