{"id":138560,"date":"2023-09-02T03:31:36","date_gmt":"2023-09-01T22:01:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138560"},"modified":"2023-09-02T03:31:36","modified_gmt":"2023-09-01T22:01:36","slug":"bitcoin-hits-two-month-low-under-28000-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-hits-two-month-low-under-28000-crypto-news\/","title":{"rendered":"Bitcoin Hits Two-Month Low Under $28,000 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>Investors Shed Risk Assets As Hawkish Fed Minutes Send Government Bond Yields To 15-Year Highs<\/p>\n<div>\n<p>Crypto markets fell sharply Thursday in what has been a rough week for global markets, as investor concerns over interest rates resurfaced.<\/p>\n<p>Bitcoin is trading under $28,000 for the first time since June 20, while Ether is down nearly 4% to $1,740.<\/p>\n<figure><figcaption class=\"text-center text-xs\">ETH Price<\/figcaption><\/figure>\n<p>On Wednesday, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/16\/fed-meeting-minutes-signal-coming-rate-moves.html\">minutes<\/a> from the Fed\u2019s July meeting indicated that the US central bank remains concerned about domestic inflation \u2013 meaning that more interest rate hikes could be forthcoming. Major stock markets dropped after the release.<\/p>\n<blockquote><p>\u201cWith inflation still well above the Committee\u2019s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.\u201d<\/p><\/blockquote>\n<p>Coupled with data showing that the US economy remains strong, investors are considering the possibility of rates staying elevated for a prolonged period, which is likely to be a headwind for risk assets like stocks and crypto.<\/p>\n<p>The US 10-year bond yield stands at 4.3%, its highest level since 2008. Indeed, yields on government bonds around the world are hitting 15-year highs.<\/p>\n<figure><img decoding=\"async\" alt=\"the-defiant\" loading=\"lazy\" width=\"768\" height=\"173.0008045052293\" data-nimg=\"1\" class=\"mx-auto\" id='b' style='filter: url(%23b)' src=\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F9dce4cea0880398e4a203866194896aa0cecbd05-1243x280.jpg&amp;w=828&amp;q=75\" \/><figcaption class=\"text-center text-xs\">US 10Y Bond Yield<\/figcaption><\/figure>\n<h2>Big Movers<\/h2>\n<p>Only two digital assets in the top 100 by market capitalization have managed to post gains today.<\/p>\n<p>Thorchain\u2019s RUNE is up nearly 9% today and over 50% this week after the initial success of its \u2018streaming swaps\u2019 feature and interest in its upcoming lending platform. Meanwhile, Cosmos\u2019s ATOM token is up nearly 2%.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/thorchain\" class=\"no-underline\"><\/p>\n<figure><img decoding=\"async\" alt=\"the-defiant\" loading=\"lazy\" width=\"768\" height=\"392.6184538653367\" data-nimg=\"1\" class=\"mx-auto\" id='b' style='filter: url(%23b)' src=\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F730fe959eb1da4cdfcccab18441743f1ccbff467-802x410.jpg&amp;w=828&amp;q=75\" \/><figcaption class=\"text-center text-xs\">RUNE Price<\/figcaption><\/figure>\n<p><\/a><\/p>\n<p>Major DeFi tokens like SNX, ARB, UNI and CRV are down between 4% and 5%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Investors Shed Risk Assets As Hawkish Fed Minutes Send Government Bond Yields To 15-Year Highs Crypto markets fell sharply Thursday in what has been a rough week for global markets, as investor concerns over interest rates resurfaced. Bitcoin is trading under $28,000 for the first time since June 20, while Ether is down nearly 4% [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":138561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-138560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138560"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138560\/revisions"}],"predecessor-version":[{"id":148036,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138560\/revisions\/148036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138561"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}