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Crypto Market Retreat Exposes Fragile Faith In Digital 'Safe Havens'
(MENAFN- The Rio Times) Key Points
Bitcoin spent the night struggling to hold the $90,000 line after sliding from recent peaks above $100,000. The move came just hours after the U.S. Federal Reserv delivered a widely expected rate cut but signalled only limited easing ahead.
Instead of cheering cheaper money, traders treated the message as a warning that inflation and public debt remain serious constraints. Equities took a hit as well, with AI-heavy tech stocks selling off after disappointing earnings and rising infrastructure costs.
Crypto followed like a high-beta shadow. That alone undercuts the more ideological claims that bitcoin already behaves as a hard-money hedge against government excess. For now it trades more like a risky tech asset than a conservative store of value.
Under the surface, however, there is still a slow institutional bid. U.S. spot bitcoin ETFs chalked up solid net inflows again, and spot ether funds attracted fresh money even as prices slipped.
A new XRP exchange-traded product has won approval with a large seed, adding another bridge between traditional finance and on-chain assets.
Big investors appear willing to accumulate on weakness, but they demand rule-of-law frameworks and transparent products rather than political slogans.
Altcoins painted an even more extreme picture. Major names such as ether, Solana, Litecoin and Dogecoin dropped between 4% and 7%, while pockets of leverage in Solana left long positions vulnerable to liquidation.
At the same time, tokens linked to the collapsed Terra ecosystem, LUNA and USTC, jumped by double digits ahead of founder Do Kwon's sentencing, joined by obscure memecoins posting wild intraday swings.
The result is a split market. One side inches toward sober, regulated investment vehicles; the other chases quick wins in thinly traded tokens.
Which side prevails will say a lot about whether crypto matures into a disciplined capital market or stays trapped in a speculative cycle often fuelled by grand but unrealistic promises.
Bitcoin and major tokens fell after a cautious Fed cut and a tech-led wobble in global risk assets.
ETF inflows into bitcoin, ether and soon XRP show institutions still edging in despite sharp price swings.
Speculative manias in LUNA, USTC and tiny memecoins highlight the market's casino side and weak fundamentals.
Bitcoin spent the night struggling to hold the $90,000 line after sliding from recent peaks above $100,000. The move came just hours after the U.S. Federal Reserv delivered a widely expected rate cut but signalled only limited easing ahead.
Instead of cheering cheaper money, traders treated the message as a warning that inflation and public debt remain serious constraints. Equities took a hit as well, with AI-heavy tech stocks selling off after disappointing earnings and rising infrastructure costs.
Crypto followed like a high-beta shadow. That alone undercuts the more ideological claims that bitcoin already behaves as a hard-money hedge against government excess. For now it trades more like a risky tech asset than a conservative store of value.
Under the surface, however, there is still a slow institutional bid. U.S. spot bitcoin ETFs chalked up solid net inflows again, and spot ether funds attracted fresh money even as prices slipped.
A new XRP exchange-traded product has won approval with a large seed, adding another bridge between traditional finance and on-chain assets.
Big investors appear willing to accumulate on weakness, but they demand rule-of-law frameworks and transparent products rather than political slogans.
Altcoins painted an even more extreme picture. Major names such as ether, Solana, Litecoin and Dogecoin dropped between 4% and 7%, while pockets of leverage in Solana left long positions vulnerable to liquidation.
At the same time, tokens linked to the collapsed Terra ecosystem, LUNA and USTC, jumped by double digits ahead of founder Do Kwon's sentencing, joined by obscure memecoins posting wild intraday swings.
The result is a split market. One side inches toward sober, regulated investment vehicles; the other chases quick wins in thinly traded tokens.
Which side prevails will say a lot about whether crypto matures into a disciplined capital market or stays trapped in a speculative cycle often fuelled by grand but unrealistic promises.
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