BNB, BTC and ETH correct as US economy slows

BNB, BTC and ETH correct slightly as US economy slows

BNB, ETH and BTC are seeing a slight correction along with traditional markets after US economic data showed signs the economy is starting to slow down.

Retail sales fall more expected, surpassing what used to be an improving market.

Bitcoin was trading at around $20,700 at 7:05 a.m. on January 19 (Vietnam time), according to Coingecko data.

bitcoin price chart

Bitcoin had a time to rise to the threshold of $ 22,000, but it did not last long. Cryptocurrencies are constantly under pressure from many sides, causing the bullish momentum to weaken.

Last night, it was reported that the US Department of Justice (DOJ) plans to take action to enforce international cryptocurrencies, immediately after this news was reported by CoinDesk, the price of BTC immediately dropped by 1,000.

Over the past 24 hours, Ether has dropped 3.2%. Binance’s BNB is also down 4%. Binance was trading lower early on Jan. 18 after the market cooled off from last weekend’s rally.

US stock indexes ended the day lower. The S&P 500 and Nasdaq 100 fell 1.6% and 1.2%, respectively.

Coinbase, currently cease operations in Japan, fell 7.3%, according to Nasdaq data. Silvergate also fell 8.4%. The crypto-friendly bank posted a $1 billion loss on Tuesday when it announced fourth-quarter results.

MicroStrategy stock fell 6.2%. The company, is expected to report fourth-quarter earnings this month. MicroStrategy has announced that its Brazilian branch is facing an investigation into anticompetitive behavior in the country since 2018.

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