Bitcoin was down and Ether was up on Friday morning in Asia, while most top 10 non-stablecoin cryptocurrencies by market capitalization fell. Polygon led losses after its block explorer crashed temporarily. U.S. equities ended Thursday higher despite the latest unemployment claims data coming in lower than expected.
See related article: Gate Group set to enter Hong Kong
Fast facts
- Bitcoin fell 1.01% to US$23,945 in the 24 hours to 8 a.m. in Hong Kong, while it gained 1.37% over the past week, according to CoinMarketCap data. Ethereum inched up 0.46% to US$1,650, with a weekly gain of 0.66% over the last seven days.
- Polygon fell 3.03% to US$1.35 with a weekly loss of 1.24%. Polygonscan, an online tool that allows users to browse Polygon blockchain data, went offline for a couple of hours on Thursday, raising concerns that the Polygon network was shut down. Polygon told crypto media outlet Decrypt that it had experienced no outage, and the issue was caused by a few nodes falling out of sync.
- The total crypto market capitalization inched 0.05% higher to US$1.09 trillion, while the total trading volume fell by 4.05% over the past 24 hours to US$60.05 billion.
- U.S. equities finished higher on Thursday, with the Dow Jones Industrial Average adding 0.33%, while the S&P 500 rose by 0.53% and the Nasdaq Composite Index gained 0.72%.
- Unemployment benefits claims in the U.S. fell by 3,000 last week to 192,000, according to data released by the Department of Labor on Thursday. The number is lower than the 200,000 forecasted by economists polled by Reuters. The unemployment claims data suggests that the Federal Reserve may consider raising interest rates higher than expected due to the persistently tight labor market. Rising unemployment claims is an indicator of cooling inflation.
- The previous Fed meeting minutes released on Wednesday saw policymakers agreeing to slow down interest rate hikes but warning that the tightening cycle is not yet over.
- The minutes revealed that some members were pushing for a 50 basis point rise in interest rates at the Fed’s previous meeting, when the central bank instead announced a 25 basis point rate hike to a targeted range of 4.5% to 4.75%, the highest level since October 2007.
- Analysts at the financial derivatives exchange CME Group predict a roughly 75% chance that the Fed will raise rates by another 25 basis points at the next meeting on March 21.
- January’s Personal Consumption Expenditures Price Index, another key inflation measure, will be released Friday in the U.S.
See related article: SEC accused of ‘back door’ labeling of crypto as securities in Coinbase insider trading case
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://forkast.news/headlines/bitcoin-ether-unemployment-benefit-claims/
- 000
- 1
- 10
- a
- According
- accused
- After
- allows
- and
- announced
- Another
- article
- asia
- average
- Bank
- basis
- benefit
- benefits
- Billion
- Bitcoin
- Block
- blockchain
- blockchain data
- capitalization
- caused
- central
- Central Bank
- Chance
- claims
- CME
- CME Group
- coinbase
- coinbase insider trading
- coming
- Consider
- consumption
- Couple
- Crashed
- crypto
- Crypto Market
- Crypto Media
- cryptocurrencies
- cycle
- data
- Days
- Department
- Department of Labor
- Derivatives
- derivatives exchange
- Despite
- dow
- Dow Jones
- Dow Jones Industrial Average
- down
- economists
- Enter
- Equities
- Ether
- ethereum
- exchange
- expected
- experienced
- explorer
- Falling
- Fed
- fed meeting
- Federal
- federal reserve
- few
- financial
- Financial Derivatives
- Friday
- Gain
- Group
- higher
- highest
- Hike
- Hikes
- Hong
- Hong Kong
- HOURS
- HTTPS
- in
- index
- Indicator
- industrial
- inflation
- Insider
- insider trading
- instead
- interest
- INTEREST RATE
- INTEREST RATE HIKES
- Interest Rates
- issue
- IT
- Key
- Kong
- labeling
- labor
- labor market
- Last
- latest
- Led
- Level
- loss
- losses
- March
- Market
- Market Capitalization
- Markets
- measure
- Media
- meeting
- Members
- minutes
- morning
- most
- Nasdaq
- network
- next
- nodes
- non-stablecoin
- number
- october
- offline
- online
- outage
- past
- persistently
- personal
- plato
- Plato Data Intelligence
- PlatoData
- Point
- points
- policymakers
- Polygon
- Polygon Network
- predict
- previous
- price
- Pushing
- raise
- raising
- range
- Rate
- Rate Hike
- rate hikes
- Rates
- related
- released
- Reserve
- Reuters
- Revealed
- Rise
- rising
- ROSE
- roughly
- S&P
- S&P 500
- Securities
- set
- seven
- Shut down
- since
- Slide
- slow
- some
- Suggests
- targeted
- The
- the Fed
- tightening
- to
- tool
- top
- Top 10
- Total
- Trading
- trading volume
- Trillion
- u.s.
- unemployment
- URL
- us
- US Equities
- users
- volume
- warning
- Wednesday
- week
- weekly
- while
- will
- zephyrnet
More from Forkast
UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets
Source Node: 1682849
Time Stamp: Sep 23, 2022
Bitcoin, Ether extend losses; all eyes on U.S. interest rates
Source Node: 2022495
Time Stamp: Mar 21, 2023
India financial crime-fighters search CoinSwitch crypto exchange
Source Node: 1641236
Time Stamp: Aug 26, 2022
Sam Bankman-Fried home for Christmas after making US$250 million bail in U.S.
Source Node: 1784170
Time Stamp: Dec 22, 2022
Meta working on a decentralized social media app: Moneycontrol
Source Node: 2002793
Time Stamp: Mar 10, 2023
Crypto ATM Bitcoin Depot unveils US$885 mln SPAC listing plans
Source Node: 1638441
Time Stamp: Aug 25, 2022
UK regulator permits crypto ETNs for professional investors
Source Node: 2511618
Time Stamp: Mar 11, 2024
Samourai Wallet co-founder posts US$1 mln bond in laundering case
Source Node: 2562982
Time Stamp: Apr 30, 2024