Bitcoin falls nearly 4% after signs of US currency tightening

Sao Paulo, April 6 – The Bitcoin and Cryptocurrency markets as a whole retreated this morning, with Lael Brainard, vice president of the US Federal Reserve, urging the company to reduce its asset portfolio sharply from May, thus reducing the liquidity of the markets.

At 9 a.m., Bitcoin was trading at $ 44,790 on Coinbase, down 3.95% in 24 hours. According to CoinGecko, which represents 39.3% of crypto asset capital, the Bitcoin network market cap has fallen to $ 862 billion.

Meanwhile, according to data from CoinGecko, the crypto market was down 3.4% on average.

Yesterday afternoon, Brinard said it was the Federal Reserve’s balance sheet cut That will happen soonIn significantly larger volumes than in previous cycles, and may begin “early in the May meeting”.

She cut that US inflation Now it is the most important task of the central bank. The US Federal Reserve has two mandates: price stability and full employment growth. Brynard said the labor market and gross domestic product demand were strong, allowing the economy to absorb the central bank’s continued monetary tightness through interest rate hikes and balance cuts.

Check out other cryptocurrency market highlights for this Wednesday.

Metawares

According to Coindesk, HSBC has launched a metaverse asset-based investment fund targeting corporate clients in Asia. The fund is actively managed and focuses on five areas: infrastructure, computing, virtualization, experience and innovation.

Adoption

A Checkout.com survey of 30,000 consumers and 3,000 merchants found that 40% of 18- to 35-year-olds prefer to use cryptocurrencies to pay for goods and services. Moreover, 70% of merchants believe that the speed of crypto fees will revolutionize their business models.

Silvio Santos

Some of the host’s iconic moments have been converted into four NFTs and will be auctioned off on the Bitcoin exchange until April 8, according to a press release. Tokens were created in conjunction with InspireIP.

Text: Nicolas Noguevara
Editing: Alan Ravagnani and Stephanie Rigamonti
Image: Vinicius Martins / Mover