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Bitcoin, Ethereum, Dogecoin Fall Along With Stocks

By Simon LawsonDecember 8, 20221 Min Read
Bitcoin, Ethereum, Dogecoin Fall Along With Stocks
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The largest cryptocurrency by market cap was trading at $16,813, down 1.2 percent on a 24-hour basis, according to data from CoinGecko.

Digital assets have been largely correlated with U.S. stocks this year, and investors have sold off so-called risk assets, including technology stocks,BTC 2.29%-news/"> Bitcoin and other digital assets, as the Federal Reserve raised interest rates to rein in historically high inflation.

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As the Federal Reserve showed signs of slowing its aggressive monetary policy, stock prices have rallied, taking the crypto market with it, and Ethereum ETH 3.04% is also down more than 2% today, trading at $1,229, the second-largest digital asset this morning. It also experienced a sharp sell-off at some point, and it is now down 74% from its all-time high of $4,878.

Among the largest cryptocurrencies by market capitalization, Dogecoin DOGE 1.99% was the hardest hit today, with the original memecoin and eighth-largest digital asset at $0.095, down 4.2% in 24 hours.

Related News:
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  • Binance Announces New Stablecoin Amidst Plans to Discontinue BUSD Support
  • Bitcoin Plummets Below $26,000 as Major Cryptocurrencies Wipe Out Weekly Gains
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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Simon Lawson
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Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

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