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Bitcoin sank to a one-week low on Tuesday, buffeted by nervousness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector.<\/p>\n
The largest token dropped as much as 5.4% on Tuesday in Asia and was trading at $21,073 as of 9:42 a.m. in Singapore. The MVIS CryptoCompare Digital Assets 100 gauge shed more than 4%.<\/p>\n
The retreat has put a dent in hopes for a sustained Bitcoin rebound and returned the token to a trading range between roughly $19,000 and $22,000. Risk appetite is generally on the back foot before an expected 75 basis-point Fed rate rise Wednesday, part of a tightening cycle that\u2019s sapping liquidity.<\/p>\n
\u201cWe\u2019ve had some stabilization over the past few weeks and that gave some folks confidence that perhaps a bottom was being put in place,\u201d Katie Stockton, co-founder of Fairlead Strategies, said on Bloomberg Television. \u201cWe\u2019re not so convinced.\u201d<\/p>\n
Rising interest rates and high-profile meltdowns like that of crypto hedge fund Three Arrows Capital have pummeled digital tokens this year. Bitcoin is down 55% over the period.<\/p>\n
The turmoil is leading to ever greater regulatory oversight of the industry.<\/p>\n
Coinbase Global Inc., for instance, is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter.<\/p>\n
Bitcoin sank to a one-week low on Tuesday, buffeted by nervousness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector.<\/p>\n","protected":false},"author":341034,"featured_media":453992,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,41576,23911],"class_list":["post-453988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-coinbase","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/453988"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=453988"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/453988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/453992"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=453988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=453988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=453988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a><\/p>\n
\nNow read:\u00a0South Africa’s plan to regulate cryptocurrencies \u2014 including tax and exchange controls<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"