Candle Stick Assholes
Bitcoin slid sharply on Tuesday, dipping 5% to under $75,000, and Ethereum lost over 7% as markets reacted to news that US President Donald Trump had selected Kevin Marsh to be the next Federal Reserve Chair. Warsh is widely seen as more comfortable with tighter policy than investors were expecting. Concurrently, investors were drawn to traditional safe-haven assets like gold and silver due to global uncertainty, making risk-sensitive assets like cryptocurrencies susceptible to selling.
At 1:13 pm ET, the world’s most famous cryptocurrency was trading at $74,592, down 5.18%, while Ether was priced at $2,172, reflecting a 7.37% drop.