Markets.News
Bitcoin (BTC) fell below $63,000, with the broader crypto market experiencing a 4% decline. This drop comes as Cipher Digital (CIFR) reached new all-time highs, rising by 10%, WhiteFiber (WYFI) surged 15%, TerraWulf (WULF) added 4%, Galaxy Digital (GLXY) gained 4%, and IREN (IREN) rose 3%. The divergence between crypto and AI-related stocks is widening sharply. Kevin Warsh's recent FOMC decision, where rates were unchanged with no forward guidance, has added to the pressure. Markets are now pricing a mere 15% chance of rates remaining unchanged till December, with nine committee members projecting a rate hike before year-end. The 2-year Treasury yield moving higher mirrors the previous pattern observed.