The Federal Reserve’s 25-basis-point cut last week was widely expected, but Chair Jerome Powell’s restrained tone dampened risk appetite after he hinted that December’s cut isn’t guaranteed.
Ether, Solana, XRP Drop 8% in Fresh Move Lower, But Bitcoin Could See a Bullish November
The Federal Reserve’s 25-basis-point cut last week was widely expected, but Chair Jerome Powell’s restrained tone dampened risk appetite after he hinted that December’s cut isn’t guaranteed.
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Market observers heralded the SEC Chair Atkins' comments as positive development for the sector, with Binance founder CZ saying that June 9th "will be remembered as DeFi day."
Ether plunged to $2,224 before bouncing back to $2,292, with five times normal trading volume fueling a fast recovery.
Experts say the next major rally may come only when long-term holders are exhausted, and true institutional capital enters the market.
Major cryptocurrencies traded lower in early Asia as DeFi platform Yearn noted at "incident" in its yETH pool.