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Liz Thomas: Bitcoin hits 2-year lows as Ethereum also falls sharply
Liz Thomas reports that Bitcoin has dropped to a 2-year low, while Ethereum has reached a 4-year low. Both cryptocurrencies are currently trading below important moving averages and have not responded to oversold market conditions.
She adds that ongoing weakness in the broader technology sector is contributing additional pressure on the crypto market.
Thomas recently reported that the U.S. personal savings rate fell to 2.6 percent in April, its lowest since June 2022, following major data revisions (story). She also introduced a new column tracking trends in initial public offerings amid rising IPO activity (details). The current declines in Bitcoin and Ethereum come as investors continue to react to developments across several key market sectors.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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