Bitcoin address activity drops to two-week low
The number of addresses participating in daily transactions is decreasing in the Bitcoin network. The day before it fell to 898,850.
Santiment found that network activity is at its lowest level since March 31st.
The BTC rate on Wednesday, April 10, dropped to $68,803.
During the day, the digital currency fell in price by 2.5%. Investor activity remains weak as stock markets await the release of US inflation data.
Yield rates on Treasury bonds today rose to 4.7449% per annum, CNBC reported. Economists polled by Dow Jones expect inflation to rise 0.3% in March compared with the previous month.
In annual terms, consumer prices increased by 3.7%. High inflation forces the Federal Reserve to abandon monetary easing.
Therefore, the inflow of capital into stock markets, excluding cryptocurrencies, will remain low if forecasts of rising inflation are confirmed, experts say.
In this case, the best-performing asset will be gold. The precious metal may jump above $2,600 during 2024, says Jurg Kiener, head of the investment division of Asia Capital.