Why American Bitcoin (ABTC) Stock Is Sliding Friday
Shares of American Bitcoin are trading lower Friday, pulling back from Thursday’s rally amid digital-asset weakness after labor market data.
Read original at benzingaCrypto · News reference
Shares of crypto-linked stocks are trading lower amid a decline in Bitcoin after climbing bond yields and August's economic data raised inflation concerns and interest-rate hike expectations. Rising rates can pressure risk assets as investors become more cautious and shift toward safer investments.
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Read original at benzingaShares of crypto-related companies are trading lower amid a decline in Bitcoin prices following August's hotter-than-expected payrolls report, which boosted expectations for a potential Federal Reserve rate hike at its next meeting. A stronger U.S. dollar and higher interest-rate expectations are further weighing on crypto and other risk assets by reducing investor appetite for speculative investments.
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Read original at benzinga