Bitcoin News

Bitcoin declines; a chain error causes BNB to fall; Ether and XRP remain stable

In early Friday, Bitcoin fell under the US$20,000 support level, a level it has been circling for several weeks. By market capitalization, Ether is the second-largest token. It increased by about 2% over the past week with little change. Most of the other coins in the top 10 by market capitalization on CoinMarketCap were flat or declining.

Bitcoin traded at US$19,957, down 1% over the previous 24 hours. According to information from CoinMarketCap, Ether decreased 0.1% to US$1,351.

According to sources, the Binance Smart Chain, which houses the BNB token, was suspended after engineers discovered a potential attack, and BNB suffered the largest losses among the top 10, falling 2.5% to US$286.

The official BNB Twitter account reports:

Following news on Wednesday that Elon Musk, a steadfast supporter of the token, was proceeding with his proposed acquisition of Twitter, Solana dropped 2.1% to US$33.36 and Dogecoin dropped 2% to US$0.063, while both are up 4.5% for the week. XRP’s price remained stable at $0.49 US cents.

On Thursday, U.S. stocks maintained their downward trend. The S&P 500 plummeted 1%, the Nasdaq Composite Index dropped 0.7%, and the Dow Jones Industrial Average sank 1.2% on the day.

Investors are anticipating the release of the non-farm payrolls data on Friday, which, according to a survey by Dow Jones, is anticipated to show that the economy added 275,000 jobs in September, down from 315,000 in August.

This number would indicate a slowdown in the economy, but it isn’t thought to be significant enough to change the U.S. Federal Reserve’s plan to raise interest rates to combat inflation.

Neel Kashkari, the president of the Minneapolis Federal Reserve, stated that there are no signs that inflation is peaking on Thursday at a banking conference in Minnesota. The U.S. inflation rate is currently 8.3%, and the Federal Reserve has stated that it wants it to return to the goal range of 2%.

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