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Bitcoin, the largest digital coin by market value, dipped as much as 2.9 per cent on Wednesday
An Ether jump since mid-June that was spurred by hype around an upgrade of the Ethereum blockchain is rapidly unwinding
Cryptocurrencies have been battered this year as the Fed hiked rates amid elevated inflation readings
Ether’s native token, the second-largest cryptocurrency by market capitalisation, rose around 8 per cent to trade at $1,828 as of 10:17am in New York
The drop-off in trading volume has taken place across many platforms, including Binance, OKX and FTX
It appears to have found support around its 200-week moving average, which currently sits near $1,200
The world’s largest digital token tumbled as much as 6.4 per cent to $25,593, its lowest level since May 12
Bitcoin has been strongly correlated with risk assets for much of the past couple years
Bitcoin and the rest of the cryptocurrency complex has struggled in recent months as the Federal Reserve hikes interest rates
Bitcoin is trading above $30,000 on Tuesday as it recovers from a sharp decline in the past three weeks
Bitcoin has been struggling along with risk assets in recent months
The UAE has been one of the most welcoming regions to establish cryptocurrency trading agencies and other cryptocurrency verticals
Other tokens like Binance Coin, Cardano, XRP and Dogecoin are also rallying
The declines put Bitcoin back in the top end of a $30,000 to $40,000 trading range
Bitcoin remains some $27,000 off its mid-April high of almost $65,000
The pear-shaped flawless diamond could fetch as much as $15m in the single-lot sale in Hong Kong
Bitcoin has roughly halved from a record of $65,000 in mid-April
The digital token for the Ethereum network has nearly tripled this year