Bitcoin and Ether fell during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization. Asian equities were down, in line with Wall Street’s performance, following hawkish remarks from U.S. Federal Reserve officials on more upcoming interest rate hikes.
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Fast facts
- Bitcoin slid 4.05% to US$23,636 in the 24 hours to 4:30 p.m. in Hong Kong. Ether fell 1.74% to change hands at US$1,654, according to CoinMarketCap data.
- The rest of the top 10 cryptos also fell on the day, except Polygon’s Matic which rose 4.93% to US$1.43 and Polkadot’s Dot which gained 0.83% to US$6.56.
- The global cryptocurrency market capitalization decreased by 2.51% to US$1.08 trillion in the 24 hours to 4:30 p.m. in Hong Kong, with total crypto market trading volume up by 4.29% to US$79.27 billion.
- Asian equities were down on Friday, mirroring Wall Street’s overnight downtrend following hawkish remarks from Cleveland Fed President Loretta Mester, who said that she sees a “compelling economic case” for another 50-basis point interest rate hike.
- The Shanghai Composite slid 0.77% and the Shenzhen Component Index lost 1.61%. Hong Kong’s Hang Seng Index fell 1.28% and Japan’s Nikkei 225 ended the day 0.66% lower.
- Gold fell below US$1,830 per ounce to a six-week low, weighed by poor global macroeconomic sentiment and more potential interest rate hikes.
- European stock also fell on Friday, as investors digested comments from Fed officials and better-than-expected producer price index data for January that rose 0.7% compared to the 0.4% estimate.
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