A cyclical consumption slowdown due to high inflation and the high base effect of post-COVID pent-up demand is currently underway as highlighted by the recent GDP data.
Bitcoin trades near $76K, Ethereum at $2,240 as tech selloff, strong US jobs data weigh on crypto markets
Bitcoin hovered near $76,000 and Ethereum around $2,240 as technology stock weakness, AI spending concerns and US crypto legislation uncertainty weighed on sentiment. Despite modest