Cryptocurrencies have lost more than 12.7% of their value in the past seven days due to the sudden collapse in gold and silver and President Donald Trump’s announcement of his nominee to replace Jerome Powell as head of the US Federal Reserve.
Bitcoin, Ethereum and Solana fell as retail investors digested an eventful week, sharp volatility in commodities and President Donald Trump’s long-awaited announcement on selecting the next Federal Reserve Chairman.
allay fear
In the latest trading, Bitcoin, the world’s largest cryptocurrency by market capitalization, fell 5.02% to less than $79,000, Ethereum fell about 9% to $2,445.31, and Solana fell 9.9% to $105.50.
The decline in cryptocurrencies comes after President Trump selected Kevin Warsh to head the Federal Reserve, easing concerns about the central bank’s independence and boosting the dollar.
Cryptocurrencies have lost more than 12.7% of their value in the past seven days following the sudden collapse in gold and silver and President Donald Trump’s announcement of his nominee to replace Jerome Powell as president of the US Federal Reserve.
Bitcoin, Ethereum, and Solana evolved as retail investors absorbed a week filled with events, wild swings in products, and President Donald Trump’s long-awaited announcement on the selection of the next Federal Reserve Chairman.
relieve anxiety
In the latest trading, Bitcoin, the world’s largest cryptocurrency by market capitalization, fell 5.02% to below $79,000, Ethereum fell nearly 9% to $2,445.31, and Solana fell 9.9% to $105.50.
The drop in cryptocurrencies came after President Trump selected Kevin Warsh to head the Federal Reserve, easing concerns about the central bank’s independence and boosting the U.S. dollar.
