As Bitcoin took a nosedive yesterday after briefly crossing the crucial resistance at the 100k mark, other cryptos followed suit. The leading altcoin, Ethereum, dipped below $3,400, losing the last seven days’ worth of gains.<\/p>\n\n\n\n
The volatile move can be attributed to the stronger-than-expected US economic data, which dashed hopes of aggressive rate cuts by the Fed. More than $300 million dollars worth of crypto longs were liquidated in the process.<\/p>\n\n\n\n
On the other hand, the US\u2019s biggest crypto exchange Coinbase got some regulatory relief as the case between the SEC and Coinbase was halted by a US judge.<\/p>\n","protected":false},"excerpt":{"rendered":"
As Bitcoin took a nosedive yesterday after briefly crossing the crucial resistance at the 100k mark, other cryptos followed suit. The leading altcoin, Ethereum, dipped below $3,400, losing the last seven days’ worth of gains. The volatile move can be attributed to the stronger-than-expected US economic data, which dashed hopes of aggressive rate cuts by […]<\/p>\n","protected":false},"author":93,"featured_media":43600,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14714],"tags":[6467,6602,6536],"class_list":["post-43748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-crypto","tag-market-update","tag-news"],"acf":{"key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment\/financial advice from CoinSwitch. Any action taken upon the information shall be at the user\u2019s risk."},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/43748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/93"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=43748"}],"version-history":[{"count":4,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/43748\/revisions"}],"predecessor-version":[{"id":43753,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/43748\/revisions\/43753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/43600"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=43748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=43748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=43748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}