📉📊🔻 A new wave of decline hits digital currencies
"#بيتكوين " is trading below $88
thousand
The prices of digital currencies declined during trading on Tuesday, after a brief recovery, as investors remained cautious and shied away from high-risk assets, while awaiting important economic data in the United States this week.
At exactly 00:57 GMT, the price of Bitcoin fell by 1.1% to reach $87,815.3, after recovering earlier in the week.
The prices of digital currencies had slightly recovered, but trading volumes remain low with the year-end holidays approaching.
Caution dominated investor trading, leading to a return of cryptocurrencies to decline, ahead of the release of important data later in the day.
The GDP data for the third quarter is set to be released, amid expectations of a slight slowdown in growth compared to the previous quarter, especially given the fluctuating slowdown in the labor market.
Data on the Personal Consumption Expenditures Index for October is also set to be announced, which is the preferred inflation gauge by the Federal Reserve.
Investors are closely monitoring this data in an attempt to get any signals regarding the strength of the U.S. economy and the inflation trajectory, which significantly impacts the Federal Reserve's decision on interest rates.
