Bitcoin, ether track traditional markets lower amid China Covid restrictions, unrest

Quick Take

  • Bitcoin was lower but trading above $16,100, while ether also slipped, down to about $1,170, according to CoinGecko.

Bitcoin and ether slipped more than 2% at 8:30 a.m. ET, tracking traditional markets lower, spooked by unrest in China over protests against Covid-19 restrictions.

Bitcoin was lower but trading above $16,100, while ether also slipped, down to about $1,170, according to CoinGecko.

 

RELATED INDICES

People have taken to the streets in a number of Chinese cities to protest against the government after a house fire in Xinjiang killed 10. Citizens are blaming Covid restrictions for a delay in responding to the blaze.

U.S. equity futures are lower on the news. Coinbase dropped more than 2% in pre-market trading alongside Silvergate, which fell nearly 5%, and Block, down 1.5%.

Markets will be watching for indications of future rate increases as St. Louis Fed President James Bullard and New York Fed President John Williams speak later today.


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About Author

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.

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