Bitcoin advances 3.8% while Ethereum does so by 4.7% and exceeds $1,850.
The cryptocurrencies They turn the initial drop of the wheel and go up this Thursday, March 23. Bitcoin goes up 3.8% in the last 24 hours while ethereum keep it up 4.7% and exceeds US$1,850.
The Federal Reserve’s interest rate decision (Fed) marked the day yesterday that made cryptocurrencies rise. Jerome Powell not only did he communicate that the increase would be less than what was anticipated before the financial crisis, but he also clarified that only one more increase will be needed to reach the terminal rate that they had set at 5.1%.
“Risk aversion was able to drag bitcoin down, as market jitters returned over banking concerns and a rapidly weakening economy. The Federal Reserve may have finished tightening its monetary policy, but the risk of something else unleashing in the financial sector remains high,” said Edward Moya, a senior analyst at Oanda.
However, despite the rises that cryptocurrencies achieved yesterday after the announcement, it did not last long. The advance of the Securities and Exchange Commission (SEC) on Coinbase, impacted prices.
The US-based exchange received a Wells notification informing it that The regulator is considering taking legal action against the company for violation of federal securities market laws.. “We asked the SEC to specifically identify which assets on our platforms they believe may be securities, and they declined to do so. Wells’ notification today also comes after Coinbase submitted multiple proposals to the SEC on registration over the course of months, all of which the SEC ultimately refused to respond to.
After this announcement, the price of digital assets fell hard, as well as Coinbase shares, which plummeted more than 10% on Wall Street. Among the 10 most important digital currencies, the declines reach 4% in the hands of Solana, followed by Polygon up to 2.4%.
Source: Ambito
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