Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin has reached a monthly low amid a sell-off


June, 18 2024
watermark Economic news

After a boom in investor interest in digital assets that began in 2023, a large-scale sale began in the market, despite a significant influx of funds into BTC-ETFs approved at the beginning of the year in the United States.


Today, bitcoin has reached a monthly low amid an outflow of investments and expectations that the interest rate in the United States will remain high for a long time, which will negatively affect the cryptocurrency market. BTC lost 2.7% on Tuesday before partially offsetting the drop to $65,530. Other tokens such as ETH, Solana and DOGE also showed declines.


Over the past week, about $600 million was withdrawn from digital asset funds, which is the highest figure since March. High inflation has forced investors to lower expectations of a Fed rate cut this year, which creates difficulties for speculative investments like cryptocurrencies. Stocks and bonds are yielding higher returns in the current quarter.


The sell-off among digital assets is due to the growing influence of macroeconomic factors on cryptocurrencies. The decrease in risk sentiment was noticeable even among the new tokens. For example, ZK, a token from a widely publicized project based on the ETH blockchain, fell by a third after listing on Monday.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.