First Mover Asia: Cryptos Slide in Weekend Trading; Did Ethereum Pick the Wrong Time to Merge?

First Mover Asia: Cryptos Slide in Weekend Trading; Did Ethereum Pick the Wrong Time to Merge?


Bitcoin was recently trading at about $19,450, down more than 2.5% from Saturday and near its lowest point in 10 days. Early in the week, the largest crypto in market value began sinking from a perch above $22,000 after a disappointing Consumer Price Index (CPI) indicated that the U.S. central bank still had work before it to tame inflation. Investors will be closely eyeing the Federal Open Market Committee’s (FOMC) decision on a fresh interest rate hike this week (UTC), although a minimum 75 basis point increase is widely expected – a continuation of the Fed’s monetary hawkishness.

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