Mt. Gox Extends Repayment Deadline, PYUSD Integrates with Venmo
Sep 21, 2023
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U.S. equities and crypto markets are falling today as investors digest the idea of a higher-for-longer interest-rate future. Following yesterdayâs FOMC meeting, expectations for the 2024 and 2025 federal funds rate sharply increased (see below). The SPX and NDQ are both down over 1% at the time of writing, while BTC (-1.63%) and ETH (-1.98%) are showing larger declines. ETHBTC has fallen below 0.06, its lowest level since July 2022. With the possibility of an Ether Futures ETF being approved in early October, it is worth monitoring a potential reversal in the ratio and a period of ETH outperformance.