Bitcoin Slips Below $79K, XRP Leads Crypto Losses Amid Fed Hike Bets

·1 views

Bitcoin has fallen below $79,000 as most major cryptocurrencies traded flat or in the red over the past 24 hours. XRP led the losses among top tokens, even as it still holds a notable 28% gain on a weekly basis. Bitcoin, despite the short-term dip, retains a strong 14% weekly gain. Solana and BNB were exceptions, managing to hold their ground while the broader market slipped. The downturn coincides with traders beginning to price in the possibility of a future Federal Reserve interest rate hike.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Key Bitcoin Capital Flow Indicator Signals Credibility Behind Recent Price Surge

A lesser-watched Bitcoin market metric is currently showing a bullish signal, lending support to the cryptocurrency's recent price momentum. The indicator tracks whether substantial capital is consistently flowing into the market to sustain upward price movement. Analysts consider this measure fundamental to distinguishing genuine rallies from short-lived price spikes. Its positive reading adds credibility to the possibility of Bitcoin reaching the $80,000 level in August. This development has drawn attention among market watchers who monitor underlying market structure rather than price action alone.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

SEC Revives Crypto Custody Rule That Stalled Under Previous Administration

The U.S. Securities and Exchange Commission is working to revive a crypto custody rule that failed to pass under the previous administration. The original 2023 proposal sought to limit where investment advisers could hold clients' crypto assets. The new regulatory effort is still in early stages and details of the updated approach have not been made public. It remains unclear how the revised rule will differ from the earlier, narrowly scoped attempt.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Nvidia Beats Earnings Estimates, Projects $108B Revenue Next Quarter

Nvidia reported its fiscal second-quarter financial results after market close on Wednesday. The tech giant surpassed analyst earnings expectations, continuing its strong performance streak. Looking ahead, Nvidia provided forward guidance projecting approximately $108 billion in revenue for the next quarter. The results reinforce Nvidia's position as a key bellwether for the broader technology sector.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Shinhan Financial and Visa to Pilot Stablecoin Payments and B2B Settlements in South Korea

South Korea's Shinhan Financial Group has partnered with Visa to explore stablecoin-based financial services. The collaboration will involve testing stablecoin issuance, remittance, and redemption using Visa's platform. The pilot also aims to develop AI-driven payment models as part of the initiative. The partnership reflects growing interest among traditional financial institutions in integrating blockchain-based payment infrastructure.

0 comments Read more at CoinDesk