Cryptocurrencies in free fall – reduced risk appetite

» Updated:

» Published:

Cryptocurrencies in free fall – reduced risk appetite
Photo: Kin Cheung AP/TT

Share this article

Cryptocurrencies continue to lose value and collectively, the 100 largest in the asset class have lost 5 per cent of their value in a week. It is the largest decline in a week since April, reports Bloomberg.

Bitcoin, the largest cryptocurrency, has been dragged down and is now hovering around 62,300 dollars. This can be compared to peaks of 71,200 dollars at the beginning of June and the historic record of 73,798 dollars in March this year.

The headwind for cryptocurrencies has intensified as expectations of interest rate cuts from the US central bank, the Federal Reserve (Fed), have been dampened in recent times, which is hitting risk appetite globally.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods

Asian Stock Markets Rise on Week's Last Trading Day

Asian Stock Markets Rise on Week's Last Trading Day

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

US Inflation Matches August Expectations

US Inflation Matches August Expectations

ECB Keeps Interest Rates Steady

ECB Keeps Interest Rates Steady

Novo Nordisk to End Remote Work in 2024

Novo Nordisk to End Remote Work in 2024

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Klarna's Stock Market Debut Attracts Swedish Small Investors

Klarna's Stock Market Debut Attracts Swedish Small Investors

Oil Demand Surpasses Expectations for 2026, Says IEA

Oil Demand Surpasses Expectations for 2026, Says IEA

Stockholm Stock Market Rises Slightly as Rusta Drops 13 Percent

Stockholm Stock Market Rises Slightly as Rusta Drops 13 Percent

Swedish Dockworkers' Union and Employers Reach Agreement Ending Dispute

Swedish Dockworkers' Union and Employers Reach Agreement Ending Dispute

Technology Industry Faces Weak Growth, Says Teknikföretagen Report

Technology Industry Faces Weak Growth, Says Teknikföretagen Report

Food Prices Drop for First Time This Year in Sweden

Food Prices Drop for First Time This Year in Sweden

Noba to Join Stockholm Stock Exchange with Existing Shares

Noba to Join Stockholm Stock Exchange with Existing Shares

Rusta Reports Decreased Profit Despite Increased Sales

Rusta Reports Decreased Profit Despite Increased Sales

Sweden's Labor Market Faces Slow Recovery Despite Job Gains

Sweden's Labor Market Faces Slow Recovery Despite Job Gains

Nikkei 225 Hits New Record Amid Wall Street Optimism

Nikkei 225 Hits New Record Amid Wall Street Optimism

Klarna's NYSE Listing Boosts Growth and Talent Attraction

Klarna's NYSE Listing Boosts Growth and Talent Attraction

Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing

Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing