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Headline : Cryptocurrencies rebound with risk assets, but ether still lower for the week

Read more from the original article on here at www.cnbc.com.






Tags : #cryptocurrencies #rebound #risk #assets #but #ether #still #lower #week


No. of Paragraph 14

Crypto prices rose on Friday following two down days in which investors rotated out of risk assets.

Bitcoin was last higher by 4.7% at $67,799.17, according to Coin Metrics, and ether advanced 4.5% to $3,262.76.

In equities, the tech-heavy Nasdaq Composite and the broad-market S&P 500 รขย€ย” which suffered their worst single trading day since 2022 this week รขย€ย” soared. Coinbase and MicroStrategy jumped 4% and 9%, respectively, on Friday.

Bitcoin spiked after the Federal Reserve's preferred inflation gauge, the personal consumption expenditures price index, showed price increases eased slightly in June from a year ago, paving the way for a widely anticipated September interest rate cut.

Read more from the original article on here at www.cnbc.com.


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