Crypto Market to Stay Highly Correlated to Stocks Amid Macro Events and Dwindling Network Activities, Citi Says
The network activity has also been falling on Ethereum and stalling on the Bitcoin blockchain, the report said.
The network activity has also been falling on Ethereum and stalling on the Bitcoin blockchain, the report said.
The blockchain project is taking advantage of an increasingly popular fundraising method known as "node sales" just months after a traditional $12 million fundraise.
The bitcoin price rose 1% just after the numbers hit, but remains lower by about 5% from one week ago.
The latest price moves in crypto markets in context for Sept. 6, 2024.
Total crypto market cap was $2.02 trillion at the end of August, a 24% decline from this year's peak of $2.67 trillion in March, the report said.
Total crypto market cap was $2.02 trillion at the end of August, a 24% decline from this year's peak of $2.67 trillion in March, the report said.
Bitcoin has been losing ground as investors brace for the highly anticipated August jobs report, a key piece of economic data that could drive the cryptocurrency's next move. Monitor these key chart levels.
The average, widely considered a barometer of the long-term trend, has hit stall speed for the first time since October.
The average, widely considered a barometer of the long-term trend, has hit stall speed for the first time since October.
President Joe Biden on Friday plans to sign an executive order for federal grants that would prioritize projects with labor agreements, wage standards, and benefits such as access to child care and apprenticeship programs. The Biden administration is trying to make the case that economic growth should flow out of better conditions for workers. “A good job is a job with security and benefits, where workers have the right to join a union, advocate for better working conditions, come home safe and healthy, and retire with dignity,” said Acting Labor Secretary Julie Su.