Leading cryptocurrencies fell alongside major stock indexes on Wednesday as Federal Reserve Chair Jerome Powell said that a year-end interest rate cut is “not a foregone conclusion.”
The largest digital currency slipped 0.7% to $113,042.30 at the time of writing, while Ethereum fell 1.4% to $4,028.41, and the BNB token fell 1.5% to $1,110.62.
At last week's Bitcoin Alpha event in Santa Monica, attendees met the star of the show — a towering shark dubbed "Bitcoinius Maximus, the Apex Predator of Money." But every apex predator has a rival species. In crypto, that's the fast-evolving class of stablecoins — call them Stablecoinius Rex.
The apex cryptocurrency fell 1.2% to $114,194.83 at the time of writing, according to CoinMarketCap data, while Ethereum slipped 2% to $4,116.92 and BNB fell 2.2% to $1,132.12.
Leading cryptocurrencies corrected on Monday, while stocks rallied, as investors braced for the Federal Reserve’s decision on rate cuts and President Donald Trump’s meeting with Chinese President Xi Jinping.
In the shadowy corners of crypto trading, timing is everything. A mysterious whale shorts Bitcoin (CRYPTO: BTC) for $190 million in profits just minutes before President Trump’s China tariff announcement tanks the market.
