Bitcoin, Ether continue slide; US stocks gain on consumer confidence

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Bitcoin and Ether fell Thursday morning in exchanges in Asia, along with all other non-stable cryptocurrencies. Polkadot led the losses with a drop of more than 2%, followed closely by Cardano and BNB.

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Quick FactsBitcoin fell 0.5% to US$16,824 in the 24 hours to 8am in Hong Kong, while Ether fell 0.3% to trade at US$1,213, according to data from CoinMarketCap. Bitcoin has lost nearly 5% in the past seven days, while Ether’s drop is closer to 6%. Polkadot fell 2.8% to US$4.48, while Cardano lost 2.2% to trade at US$0.25. . The token is still plagued by concerns over the reserves of the Binance exchange, its issuer, as customers withdrew billions of dollars from the platform last week. The exchange is also facing a possible US legal investigation. Global crypto market capitalization rose 0.7% to $808.1 billion in the past 24 hours, while total trading volume fell 30.5% to $26.45 billion. dollars. US stocks ended the day higher on Wednesday. The Dow Jones Industrial Average gained 1.6% while the S&P 500 Index and the Nasdaq Composite Index both ended up 1.5%. The US consumer confidence index hit an eight-month high of 108.3 in December, according to data released Wednesday by the business think Tank Conference Council. That reading beat the 101.4 recorded in November and the 101 expected by economists at business data analytics firm Refinitiv. peaks close to forty years. The Fed raised the expected 50 basis points last week, taking rates to between 4.25% and 4.5%, the highest level in 15 years. He also warned of further increases to come. The latest US consumer price index showed inflation rose 7.1% in November from a year ago, from 7.7% in October and 8.2% in September.

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