Bitcoin (BTC) fell to its lowest level in the last two months after record daily withdrawals from ETFs (index funds) in cash for the United States cryptocurrency.
On Wednesday, investors withdrew $564 million from 11 exchange-traded cryptocurrency funds, the largest volume since they were launched in the second week of January.
The largest crypto on the market fell to US$56,852 on the Labor Day holiday. At around 8am this Thursday (2), however, it registered a slight recovery and began trading at US$57,775. During the week, the asset fell almost -10%. In April, BTC fell -16%.
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In addition to pressure from ETFs, BTC has also been reacting to monetary policy in the US. This week, the Federal Reserve (Fed, the country’s central bank) maintained interest rates and signaled that rates will remain higher for longer, something negative for risky assets such as cryptos and stocks.
“The next three to four months will be less optimistic and with investors more alert to risk, with the market closely monitoring inflation, employment and economic data for any unexpected shocks or to gain confidence about potential rate cuts.” , said Youwei Yang, chief economist and vice president at crypto mining company BIT Mining, to Bloomberg.
The cryptocurrency’s fall has been seen by some traders as a possible precursor to broader changes in risk appetite in global markets.
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“It is a warning about future problems in financial markets, but we can be confident that they will recover at some point,” said Charlie Morris, chief investment officer at ByteTree Asset Management, in a note to Bloomberg.
Altcoins (term used to identify any crypto other than BTC) are also trading higher this morning. The highlight among the currencies with the highest capitalization is Solana (SOL), which rises +10.60%.
On Wall Street, US futures indexes operate in a positive field, as investors reflect the Fed’s maintenance of interest rates. Dow Jones Futures rises +0.34%, S&P 500 Futures advances +0.58% and Nasdaq Futures registers an increase +0.81%
Check out the performance of the main cryptocurrencies at 8am:
| Cryptocurrency | Price | Variation in the last 24 hours |
| Bitcoin (BTC) | $57,775 | +0.20% |
| Ethereum (ETH) | $2,942 | +2.40% |
| BNB Chain (BNB) | $554 | +1.00% |
| Solana (SOL) | $133 | +10.60% |
| XRP (XRP) | $0.5142 | +5.30% |
The cryptocurrencies with the biggest gains in the last 24 hours:
| Cryptocurrency | Price | Variation in the last 24 hours |
| dogwifehat (WIF) | $2.71 | +17.00% |
| Pepe (PEPE) | $0.057014 | +14.60% |
| Wormhole (W) | $0.7348 | +13.60% |
| Solana (SUN) | $133 | +10.60% |
| Jupiter (JUP) | $0.9534 | +9.20% |
The cryptocurrencies with the biggest drops in the last 24 hours:
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| Cryptocurrency | Price | Variation in the last 24 hours |
| Zebec Protocol (ZBC) | $0.02302 | -7.90% |
| I know I know) | $0.5185 | -1.80% |
| WhiteBIT Coin (WBT) | $9.92 | -1.20% |
| NEAR Protocol (NEAR) | $5.93 | -1.20% |
| NEO (NEO) | $15.52 | -0.60% |
Check out how cryptocurrency ETFs closed in the last trading session:
| ETF | Price | Variation |
| Hashdex NCI (HASH11) | R$ 46.75 | -4.68% |
| BTCN Hashdex (BITH11) | R$ 71.52 | -4.70% |
| Hashdex Ethereum (ETHE11) | BRL 44.67 | -5.52% |
| Hashdex DeFi (DEFI11) | R$ 26.55 | -8.09% |
| Hashdex Smart Contract Platform FI (WEB311) | R$ 29.50 | -5.90% |
| Hasdex Crypto Metaverse (META11) | R$ 43.00 | -7.00% |
| QR Bitcoin (QBTC11) | R$ 19.20 | -3.90% |
| QR Ether (QETH11) | R$ 11.03 | -4.17% |
| QR DeFi (QDFI11) | R$ 3.63 | -7.39% |
| Crypto20 EMPCI (CRPT11) | R$ 13.16 | -2.94% |
| I invest in NFTSCI (NFTS11) | R$ 9.38 | -8.84% |
| I invest BLOKCI (BLOK11) | R$ 164.94 | -6.49% |
(With Bloomberg)
