Bitcoin wasn’t the only crypto experiencing a fall. Ethereum, too, missed the mark by slipping below $1,650. The total value of the global crypto market cap fell by 0.89%, to $1.08tn.
Unexpectedly positive results in the Job Openings and Labor Turnover Survey, or JOLTS, have boosted the yields on 10-year bonds. This is the best performance they’ve had since 2007. The Sam Bankman-Fried trial and scandal is another shadow that hangs over the crypto market.
The case did not affect cryptocurrency directly but did raise the idea that cryptocurrency was not only on trial, but also as an unregulated business. This court case is expected to highlight the dangers associated with virtual currencies.
New York Times headline
Sam Bankman Fried Faces his Reckoning in Crypto: The Trial
This headline caused some controversy. Experts say that these two entities aren’t synonymous and that fraud can occur with any asset.
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