ETH Temporarily Gives Back This Year's Gains...BTC Hits New Lows Since February
CryptoNewsTerminal Staff04 Aug, 2024
ETH Temporarily Gives Back This Year's Gains...BTC Hits New Lows Since February
The price of ETH has fallen to its lowest point since December last year, temporarily giving back this year's gains. The price of BTC has also dropped to its lowest level since February. As of now, there has been a slight uptick with BTC and ETH trading at $54,779 and $2,358, down by 9.21% and 18.17% respectively, according to CoinMarketCap. As per Coindesk's analysis, the main reason for this correction could be due to the Bank of Japan raising interest rates. The Japanese yen strengthened after the rate hike and today, the Nikkei index fell by a sharp 6% during intraday trading. Nasdaq futures have also fallen by over 2.4% due to this.
