Cryptocurrencies decline, Bitcoin trades above $63,000
Bitcoin
Cryptocurrency prices declined during Thursday's trading session after a mixed performance earlier in the day, amid a shrinking appetite for risk among investors due to concerns about monetary tightening by the Federal Reserve.
Cryptocurrency Prices (US$)
|
Cryptocurrency |
Price |
Change Value |
Change % |
|
Bitcoin |
63173.05 |
(1192.43) |
(1.85%) |
|
Ethereum |
1722.25 |
(17.12) |
(0.98%) |
|
Ripple |
1.1497 |
(0.0389) |
(3.28%) |
*Prices updated at 06:19 pm Makkah time
Selling pressures were renewed in crypto-asset markets following the Federal Reserve’s indication yesterday of the possibility of raising interest rates this year, and rising market expectations for monetary tightening.
On the other hand, the Federal Reserve Board proposed issuing legislation requiring issuers of stable cryptocurrencies designated for payment operations to verify the identity of customers, in a step that reflects a regulatory trend towards integrating digital assets within traditional frameworks of financial supervision.
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