Bitcoin Dips Below $61K, Ether Slips 3% as Some PlusToken China Ponzi-Related Coins Moved to Exchanges
Bitcoin (BTC) fell below $61,000, starting the day around $62,000 and ending at $60,400, a 2.4% decline in 24 hours. Ether (ETH) also decreased by 3.2%. Concerns arose from reports of seized cryptocurrencies linked to the PlusToken ponzi scheme being moved to exchanges, suggesting potential selling pressure. Chinese authorities seized nearly $4 billion in crypto from PlusToken operators in November 2020, with 7,000 ETH worth $16 million moved recently. U.S. federal prosecutors charged several crypto trading firms with market manipulation and fraud. A token created for the investigation surged 3,500% before trading was disabled. In traditional markets, the S&P 500 reached a new all-time high, and the 10-year U.S. Treasury rates rose to 4.08%. Federal Reserve officials showed mixed opinions on future rate cuts, with a 21% probability of steady rates in November.
