Bitcoin, SHIB, XRP, ADA down due to economic concerns in US and China

From Investing.com

September 4, 2024 12:00:21 pm:

Bitcoin plummeted to $55,555, hitting one-month low amidst global market weakness. Economic concerns in the US and China triggered investor unease, with focus on Friday’s US jobs report. Other major cryptocurrencies also saw losses, with SHIB and ADA down. Bitcoin fell 3.86%, trading at $56,671. The market outlook remains neutral, with futures interest at a low since May and ETF outflows.

Fairlead Strategies LLC analyst sees a long-term neutral stance on Bitcoin. Futures open interest is low, while ETFs face net outflows. September historically sees losses for Bitcoin, with an average decline of 8% over the past five years. The upcoming Fed meeting will influence market sentiment, with expectations of a rate cut causing division among traders on its significance.

Source: https://u.today/key-reason-why-btc-shib-xrp-ada-are-down-details?from=investing

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