Cryptos edge higher amid forecasts for US interest rates
Cryptos edge higher as expectations for a US rate hike ease
Cryptocurrency prices edged higher in Tuesday trading as expectations for a Federal Reserve interest-rate hike this month eased.
Expectations for a US rate hike in October declined following the latest jobs data, although traders still see an 87% probability of a rate hike in December, according to the FedWatch Tool.
Japan’s Metaplanet, the world’s second-largest corporate holder of Bitcoin, stated that it purchased an additional 1,000 Bitcoins in the third quarter as part of its strategy to expand its cryptocurrency investments. The purchase brings its total holdings to 44,000 Bitcoins, worth $3.7 billion as of Sept. 30.
Naeem Aslam, chief investment officer at Zaye Capital Markets, said recent Bitcoin price movements remain highly sensitive to liquidity expectations, Treasury yields and institutional flows, rather than cryptocurrency market news alone, MarketWatch reported.
|
Cryptocurrency prices |
|||
|
Cryptocurrency |
Price ($) |
Change ($) |
Change (%) |
|
BTC |
85,867.50 |
153.14 |
0.18% |
|
ETH |
2,715.31 |
6.25 |
0.23% |
|
XRP |
1.5031 |
(0.0020) |
(0.13%) |
*Prices as of 11:08 a.m. Makkah time.
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