{"id":27379,"date":"2022-08-29T02:54:49","date_gmt":"2022-08-29T02:54:49","guid":{"rendered":"http:\/\/egrowonline.com\/?p=27379"},"modified":"2022-08-29T02:54:49","modified_gmt":"2022-08-29T02:54:49","slug":"bitcoin-ethereum-drop-as-traditional-markets-skid-into-new-week","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=27379","title":{"rendered":"Bitcoin, Ethereum Drop as Traditional Markets Skid into New Week"},"content":{"rendered":"


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Several key cryptocurrencies fell dramatically Sunday evening as traditional markets dropped heading into a new trading week.<\/p>\n

Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), Solana, and meme coin Dogecoin (DOGE) all saw values fall sharply within a two-hour window as the sun set on the U.S. East Coast, many logging drops of over 3% over the prior 24 hours.<\/p>\n

Bitcoin fell to $19,617 on Sunday evening, below the last dip to $19,323 seen on July 13, according to CoinGecko. The decline continued a slide that began Friday, which brought brief hope of a recovery when BTC bumped briefly north to $21,743.<\/p>\n

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Ethereum, meanwhile, dipped to $1,431, a low not seen since July 26. Similarly, Dogecoin fell to $0.06154, where it was during coming out of another dip that same day, per CoinGecko.<\/p>\n

Things didn’t look much better for the sixth, seventh, and eighth largest cryptocurrencies by market cap. XRP fell to $0.3217, Cardano (ADA) to $0.4279, and Solana to $30.15, according to CoinMarketCap. That marks new lows over the past year for Cardano and Solana, and leaves XRP dancing near its 365-day low of $0.31 seen in June.<\/p>\n

The declines come as financial analysts and commentators predicted a rough Monday on the stock market. Trading platform provider IG Group reported distinct “jitters in the U.S. futures market” on Twitter, advising investors to “get your tin hats on.”<\/p>\n

Many attributed the slide to fears of aggressive U.S. Federal Reserve rate hikes<\/a> promised by Powell last week. The market closed down across the board on Friday, CNBC reported<\/a>, with the Dow Jones Industrial Average falling over 1,000 points.<\/p>\n

At least some of that downward pressure appears to have carried through the weekend.<\/p>\n

The stock market activity tracker<\/a> on the website of Nasdaq, the largest online securities trading marketplace, showed red, downward-pointing arrows across the board twelve hours before the U.S. stock market was set to open on Monday.<\/p>\n

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Nasdaq’s activity tracker.<\/figcaption><\/figure>\n
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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/p>\n<\/div>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Several key cryptocurrencies fell dramatically Sunday evening as traditional markets dropped heading into a new trading week. Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), Solana, and meme coin Dogecoin (DOGE) all saw values fall sharply within a two-hour window as the sun set on the U.S. East Coast, many logging drops of over 3% over […]<\/p>\n","protected":false},"author":1,"featured_media":27380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[50,1371,158,89,10774,1960,339],"class_list":["post-27379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-bitcoin","tag-drop","tag-ethereum","tag-markets","tag-skid","tag-traditional","tag-week"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/bitcoin-red-zone-gID_2.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27379"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27379\/revisions"}],"predecessor-version":[{"id":27381,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27379\/revisions\/27381"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/27380"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27379"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}