Bitcoin (BTC) and ethereum (ETH) recorded increases on Tuesday (4), as financial markets rose after a smaller-than-expected increase in interest rates in Australia.
The Central Bank of Australia (RBA) decided to raise the interest rate by 0.25 percentage point (pp) this week, at a slower pace than expected by the market, which had priced an adjustment of 0.5 pp.
The status of interest rate hikes around the world may be in jeopardy, as the United Nations has said that sharp rises in interest rates in rich countries could have a more severe impact on savings under development.
US stock futures rose early Tuesday morning, with the S&P 500 futures up more than 1.5% and Nasdaq 100 futures up 1.9%. At cryptocurrencies followed the movement, with bitcoin recovering the US$ 20 thousand.
At the time of publishing this news, BTC has registered a positive variation of 3.6% in the last 24 hours – at $20,110, according to data from CoinMarketCap.
Ethereum was in tune with the price movement of the bitcoinrising more than 4%, but then retreating.
As of press time, the second-largest crypto on the market is up 2.4% in the last 24 hours – at $1,350.
In addition to bitcoin and ethereum
The positive movement recorded by bitcoin and ethereum on Tuesday echoed in other cryptocurrencies on the market.
Solana (SUN), BNB (BNB), XRP (XRP) and Polygon (MATIC) recorded significant increases on the last day. At the time of publishing this news, SOL and BNB were up 4% and 2.6%, respectively, while XRP and MATIC recorded respective increases of 5.5% and 6.8%.
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Source: Moneytimes
I am a journalist with over 6 years of experience working in the news industry. I currently work as an author for Global Happenings, and my coverage focuses on Technology news. I have written for various publications, including Reuters, The New York Times and The Guardian.
