look news india
Mumbai: Better-than-expected retail sales data in the US has raised the possibility of interest rate cuts, slowing institutional investment flows into risky assets like cryptocurrencies, which has seen the price of leading crypto Bitcoin fall by more than $3,000. . After Bitcoin, there was selling in other cryptos also.
Retail sales in America increased by 0.70 percent in March. The February figure has also improved to 0.90 percent as against 0.60 percent, which shows that retail sales are increasing.
As a result of Iran and Israel tensions, the crypto market has seen considerable volatility over the past two days.
Bitcoin was trading at $63,270 late in the evening, hitting a low of $6,200 and a high of $66,818 in the last twenty-four hours. Ethereum was at $3087 while BNB was at $531.
The global market capitalization of crypto currencies fell to $2.29 trillion. Inflows into US-listed spot Bitcoin ETFs have also been reported to be slowing.
According to another report, Hong Kong has given conditional approval to its first-ever Bitcoin and Ether exchange traded fund (ETF).