On Thursday morning in Asia, Bitcoin and Ether dropped below the US$29,000 threshold for the first time in ten days. With a loss of 10.50% over the previous 24 hours, Litecoin led the losers and was trading at US$90.85, down 1.39% for the week. Some commentators explained the declines by blaming higher interest rates and an inflation-based repricing. Following a flat to lower Wall Street close, U.S. equity futures fell. As of this week, the U.S.
In contrast, the Federal Reserve’s Beige Book survey revealed a sharp decline in lending in Hong Kong following the failure of three local banks. The range of U.S. interest rates is currently 4.75% to 5%, which is the highest level since June 2006.
Bitcoin falls below US$29,000, Ether slumps, U.S. equities stall on inflation concerns
