Bitcoin broke below the $20,000 support line in Asian trading on Friday morning. Prices fluctuated repeatedly over several weeks. Ether, the second-largest token by market capitalization, was little changed, gaining about 2% on the week. Most other coins in the top 10 market caps on CoinMarketCap have flat to down.
See related articles: Markets: Bitcoin Falls but Holds Above USD 20,000, Ether Falls, XRP Only Rises in Top 10
quick facts
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Bitcoin fell 1% over the past 24 hours, trading at US$19,957 at 08:00 in Hong Kong. Ether fell 0.1% to $1,351, according to data from CoinMarketCap.
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BNB suffered the biggest loss in the top 10, dropping 2.5% to US$286, according to reports that Binance Smart Chain, which hosts the BNB token, was suspended after a developer identified a potential exploit. I was.
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according to the official BNB Twitter account: “To confirm, we have suspended BSC after identifying a potential exploit. All systems are now contained and we are immediately investigating potential vulnerabilities. Community assistance and We know it helps freeze transfers. All funds are safe.”
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Solana fell 2.1% to US$33.36 and Dogecoin fell 2% to US$0.063, while longtime token proponent Elon Musk was reportedly making a planned Twitter purchase. It rose 4.5% in a week on Wednesday’s news. XRP remained almost unchanged at $0.49 for him.
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US stocks continued their downtrend on Thursday. The Dow Jones Industrial Average dropped his 1.2%, the S&P 500 dropped his 1%, and the Nasdaq Composite Index closed his down 0.7%.
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Investors are eagerly awaiting the release of Friday’s nonfarm payrolls report, with the economy expected to add 275,000 jobs in September, down from 315,000 in August, according to a Dow Jones survey. The numbers suggest a slowdown in the economy, but are not seen as enough to sway the US Federal Reserve from its campaign to raise interest rates to curb inflation.
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Minneapolis Federal Reserve Governor Neil Kashkari said at a bank meeting in Minnesota on Thursday that there were no signs that inflation had peaked. US inflation is currently at 8.3%, and the Fed says he wants it back to its 2% target range.
See related articles: What does Rael Brainerd’s rise to the US Federal Reserve Board mean for the cryptocurrency industry?
