In mid-afternoon U.S. trading, bitcoin (BTC) was lower by about 4% over the past 24 hours. At $59,000, the price has returned to levels not seen since the U.S. Federal Reserve unexpectedly slashed its benchmark interest rate by 50 basis points in mid-September. Altcoins outperformed somewhat, with the broad-based crypto benchmark CoinDesk 20 Index declining just under 3% during the same period. Ether (ETH) dropped 3.5%, while only decentralized exchange Uniswaps’s token (UNI) had positive return during the day on news about the platform’s own layer-2 plans.
Source: https://www.coindesk.com/markets/2024/10/10/bitcoin-tumbles-below-59k-amid-inflation-worry-regulatory-onslaught-on-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines