*Crypto Market Update: Bearish Trend Continues as ETH, SOL, XRP, DOGE, and PEPE Prices Fall*
- The global crypto market cap is $2.53 trillion, a 1.23% decrease over the last day
- Bitcoin is at $67,939.10, a 0.40% increase in the last hour
- Ethereum is at $3,741.27, a 0.22% increase in the last hour
- XRP is at $0.5203, a 0.52% increase in the last hour
- Dogecoin is at $0.1594, a 0.39% increase in the last hour
*Current Market Updates:*
- The crypto market is expected to remain shaky ahead of Friday’s U.S. inflation report, which may lead to a rate hike and further market volatility.
- CHZ has surged over 20% in seven days, the third-biggest gain among the top 100 cryptocurrencies by market value, due to its increasing adoption in the sports and entertainment industry.
- BlackRock’s Bitcoin ETF has surpassed Grayscale’s GBTC to become the largest spot Bitcoin product, indicating growing institutional interest in cryptocurrencies.
- Bitcoin price prediction: BTC nears $68,000; BlackRock’s $20B fund boosts investor confidence, as the market anticipates a potential price surge.
*Current News:*
- China’s central bank on offshore CNY market and cross-border transaction: The People's Bank of China (PBOC) has announced new regulations to strengthen its control over the offshore yuan market and cross-border transactions, which may impact cryptocurrency trading in the region.
- Joint global tax group issues crypto risk indicators to financial institutions: The OECD has released a report highlighting the risks associated with cryptocurrency transactions and providing guidelines for financial institutions to identify and mitigate these risks.
- PayPal’s PYUSD stablecoin on Solana introduces ‘confidential transfers’ for enhanced privacy: PayPal has launched a new feature for its stablecoin, allowing users to make confidential transactions and protecting their identities.
