Why Did Ethereum Fall 6.4% Today?

Ethereum (CRYPTO: ETH) is down 6.4% in the last 24 hours as of 7:33 p.m. ET on Monday, outpacing Bitcoin's 4.6% decline. Stocks also fell today, with the S&P 500 down 0.6% and the Nasdaq Composite down 0.4%.Cryptocurrencies across the board are continuing to fall even as the market anticipates an additional interest rate cut from the Federal Reserve. Japan's interest rates could move in the opposite direction, raising the possibility that investors may need to unwind crypto positions leveraged with Japanese yen.While the Fed is expected to cut U.S. rates, the head of the Bank of Japan (BOJ) said on Monday that the Japanese central bank is weighing the "pros and cons" of a rate hike. If the BOJ does raise interest rates, investors who borrowed Japanese yen to purchase Ethereum and other crypto assets could be forced to sell to cover their positions. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool