It is clear that the Fed rate hikes are working, with both, positive and negative consequences. CPI going down is the positive and SVB and other US banks facing asset-liability mismatches is negative.
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