Bitcoin and Ether fell slightly in trading in Asia Monday morning, along with all other non-stablecoin cryptocurrencies in the top 10 except Litecoin. Waiting for November’s consumer price index to be a benchmark, and preparing for another rate hike on Wednesday.
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quick facts
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Bitcoin was trading at US$17,106 in Hong Kong, down 0.1% in the 24 hours to 8am. According to CoinMarketCapLitecoin was the only token won among the top 10 non-stablecoin cryptocurrencies, rising 0.4% to US$76.64.
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Memecoin Dogecoin posted the biggest loss, dropping 3.7% to US$0.09, while Polkadot dropped 2% to US$5.17.
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Hong Kong’s crypto market capitalization fell 0.5% to US$850 billion by Monday morning, while 24-hour market trading volume was US$24.7 billion, up 4.5% from the previous day.
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The US stock market ended trading day lower on Friday. The S&P 500 Index and Nasdaq Composite Index both fell his 0.7%, while the Dow Jones Industrial Average fell 0.9% to his 2.8% weekly drop in its worst trading week since September. suppressed.
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US wholesale prices rose 0.3% in November, up 7.4% year-on-year, according to the US Department of Labor’s latest Producer Price Index report on Friday. Many economists expected him to rise 0.2% over the month, but prices remain high despite the Federal Reserve trying to keep inflation under control with a series of rate hikes.
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The Federal Reserve Board’s Federal Open Market Committee (FOMC) next two-day meeting begins on Tuesday, Dec. 13, and is expected to raise rates by 50 basis points.
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The Federal Reserve (Fed) has hiked interest rates since March to curb inflation, from near zero to a 15-year high of 3.75% to 4%, with interest rates likely to eventually exceed 5%. suggests that there is a The central bank wants inflation to stay within its 2% target range. The consumer price index for October was 7.7% for him, down from 8.2% for September.
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