From Investing.com: 2024-05-08 01:40:43

Bitcoin price fell as regulatory concerns weighed on the crypto industry. Broader crypto prices were also down amid uncertainty over U.S. interest rates. Bitcoin dropped 1.5% to $62,523.2. Capital flows data showed steep outflows from crypto investment products. A report raised questions over stablecoin transactions. Regulatory action looms over stablecoin operators and trading app Robinhood faces SEC scrutiny. The SEC is investigating Ethereum, delaying a decision on ETF approval. Altcoins dropped as the dollar surged and Fed officials hinted at unchanged rates. Ethereum fell 1.5% to $3,018.85 while XRP and Litecoin also saw declines. High U.S. rates could negatively impact the crypto market.

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