Crypto prices traded down on Thursday as bitcoin flipped either side of $17,000 just 24 hours after reaching a two-week high.
Meanwhile, crypto stocks traded in a wide range during the day’s session, led by declines for Silvergate.
Bitcoin failed to hold on above $17,000 for 24 hours, trading at $16,866 at 4:00 p.m. EST, falling 1.1% from yesterday. The leading cryptocurrency by market cap rose after a speech by U.S. Federal Reserve Chair Jerome Powell on Wednesday.
Ether was trading at $1,275, down 1.8% over the past 24 hours. Binance’s BNB experienced a sharper sell-off in that time, dropping by 3.1%.
Crypto stocks and structured products
U.S. indices saw mixed fortunes on Thursday, with the S&P 500 closing down 0.09% and the Nasdaq 100 rising 0.1%.
Shares in crypto bank Silvergate fell sharply today, shedding over 7.8% to $25.27. The bank has been linked to BlockFi and FTX and revealed some exposure to both firms.
Coinbase shares dropped 0.9% on Thursday, changing hands for around $45.32, according to Nasdaq data.
Michael Saylor’s MicroStrategy briefly traded above $200 today, for the first time since Nov. 9, before surrendering those gains. Shares in the company were trading at $198.94 at 4:00 p.m. EST.
Jack Dorsey’s Block performed slightly better than its peers, gaining over 2% to trade at $69.15.
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Source: https://www.theblock.co/post/191532/bitcoin-dips-under-17000-block-and-coinbase-see-mixed-fortunes-and-silvergate-sinks?utm_source=rss&utm_medium=rss