Crypto

Bitcoin Drops Below $56.5K on Risk-Off Day

Bitcoin experienced a slight dip, falling to just over $56,000 following the first presidential debate between Kamala Harris and Donald Trump. However, BTC managed to recover to over $56,500 during the European morning session, although it remained around 1.3% lower over a 24-hour period. The broader digital asset market, as indicated by the CoinDesk 20 Index, also saw a decline of about 1%.

The Japanese yen saw a significant rally, reaching 140.70 per U.S. dollar, its strongest level since January. This surge in the yen’s value, surpassing the early August level of 141.68, suggests a shift away from riskier assets. The yen gained momentum in late July after the Bank of Japan made its first interest rate hike in decades.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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