Crypto Market Today, Aug. 11: Macro Worries Pull Bitcoin Below $64,000 and the SEC May Have a Regulatory Plan

As of early evening on Aug. 11, Bitcoin (CRYPTO:BTC) fell 0.6% to $63,685.99, Ethereum (CRYPTO:ETH) rose 0.4% to $1,882.06, and Solana (CRYPTO:SOL) fell 0.3% to $76.10. The crypto market cap slipped 0.5% to $2.26 trillion as rising oil prices and inflation concerns pressured major coins. Bitcoin failed to hold above $64,000 today as traders await tomorrow’s inflation data and monitor rising oil prices. Last week’s hopes that the U.S. and Iran might reach an agreement to reopen the Strait of Hormuz proved over-optimistic, and there’s concern that disruptions to oil supplies will continue until next year. If the Federal Reserve hikes interest rates to combat oil-fueledinflation, it will likely weigh on crypto prices. The recent $130 million Coldcard hack has boosted inflows to crypto ETFs  as investors look for alternative ways to keep their digital assets safe. Criminals managed to steal coins from cold wallets, which are kept offline and have long been viewed as a safe way to store crypto. Spot Bitcoin ETFs use custodians to protect funds, meaning individual investors aren’t responsible for securing their Bitcoin. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool