Bitcoin and Ethereum See Big Drops
Categories: Crypto News
Bitcoin and Ethereum saw big drops last week, worsening a slump that started in the days after Christmas. By Monday morning, Bitcoin had dropped below $41,000 twice in recent days and Ethereum had dropped below $3,000.
The drops in price this week have followed a disappointing December jobs report Friday, as well as a Wednesday release of minutes from the Federal Reserve Board’s December meeting, which signaled a winding down of monetary measures to boost the economy as it continues to improve.
Meanwhile, blockchain data firm Chainalysis released a report showing $14 billions worth of stolen crypto in 2021. Kosovo this week banned cryptocurrency mining to save electricity, while Matt Damon inspired some heated tweets after the actor appeared in a crypto TV ad during Sunday’s NFL games. And Crypto exchanges Crypto.com and FTX will run their first Super Bowl ads this year in an attempt to reach a more mainstream audience.