The price of bitcoin was little changed on Tuesday as expectations of a token distribution from the now defunct Mt Gox exchange, along with closely watched interest rate clues, kept cryptocurrency markets on edge.
This was reported by Investing, UNN.
Details
The price of bitcoin remained stable on Tuesday amid tensions over the distribution of tokens from the defunct Mt Gox exchange and market focus on future interest rate guidance. According to fund flow data, digital assets lost cash flows for the third consecutive week, but sentiment seems to have improved after significant outflows in June.
Bitcoin is down 0.4% over the past 24 hours to $63,039.30. This cryptocurrency has been in a trading range of $60,000 to $70,000 for most of the second quarter. According to asset manager Coinshares, last week saw a slowdown in cryptocurrency outflows, although trading volumes remained 50% below the weekly average.
Altcoins like Ether have felt downward pressure in value, although they have received some support from the US Securities and Exchange Commission's expected approval of an Ether spot exchange-traded fund this week.
Ether fell by 0.9%, while ADA and XRP rose slightly.Among meme tokens, DOGE fell by 2.2% and SHIB lost 1.3%.At the same time, investor sentiment remained cautious ahead of key US interest rate announcements, including the upcoming speech by Federal Reserve Chairman Jerome Powell and the publication of the June Fed minutes.
Recall
Yesterday , the price of bitcoin rose, recovering some of its recent losses, although sentiment toward the token and the broader cryptocurrency markets remained largely negative.