First Mover Americas: Bitcoin Shaky as Traders Bank Profits
CoinDesk 20 Index is at 2,691.86, up 0.76%. Bitcoin (BTC) is priced at $90,386.53, down 1.21%, while Ether (ETH) is at $3,107.30, down 2.48%. The S&P 500 decreased by 0.6% to 5,949.17. Bitcoin's recent drop follows a peak above $93,000, influenced by Fed Chair Jerome Powell's comments on interest rates, reducing the likelihood of immediate cuts. Market expectations for a December rate cut have decreased from 83% to 66%. Bitcoin ETFs experienced $400 million in net outflows, with significant losses from Fidelity, Bitwise, Ark, and Grayscale products. XRP surged 17% in 24 hours, trading above 82 cents, driven by a favorable regulatory environment and a lawsuit against the SEC by 18 U.S. states. XRP's seven-day gains reached 50%, reflecting speculative optimism regarding a potential crypto-friendly administration.
