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Hawkish Fed comments and fears of stablecoin regulation spark market sell-off
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The bullish optimism seen earlier in the week was dialed back on Nov. 4 after recent comments from U.S. Federal Reserve Chairman Jerome Powell confirmed that the central bank would soon start to taper its monetary policy of easing and bond buying.
These statements appear to have kicked off a series of price decreases across the crypto market and both Bitcoin (BTC) and Ether (ETH) are under pressure at the moment.
Data from Cointelegraph Markets Pro and TradingView shows that the price action for BTC flashed a warning when the price briefly dipped to $60,400 on Nov. 3 and currenlty BTC is struggling to hold the $61,000 level.
Ether has also seen its price inch lower over the course of the day after setting a new record high of $4,664 on
Read more on cointelegraph.comAbout this in other media
Seeing red? FUD that! Here's what you should have bought instead of Bitcoin last week cointelegraph.com /3 years ago
A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern cryptonews.com /3 years ago
RBA warns Aussies over punting on ‘fad driven’ cryptocurrencies cointelegraph.com /3 years ago
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