Binance US Avoids Asset Freeze, Damus Faces iOS Removal Over Bitcoin Tipping
Todayâs busy news day kicked off earlier this morning with the release of the latest Producer Price Index. Data came in below expectations at MoM and YoY, likely cementing a pause in interest rate hikes at todayâs FOMC meeting. Traditional indices are up slightly in anticipation of the 2:00 PM decision, with the SPY -0.12% (+0.27%) and QQQ -0.06% (+0.31%) at 2023 highs. BTC (+0.29%) and ETH (+0.15%) are rising in a similar fashion, while altcoins are mixed. Bitcoin and Ethereum dominance has risen to 69.5% of the total crypto market cap, the highest level since September 2020. The deterioration of altcoins can be attributed to the lack of regulatory clarity and a flight into BTC & ETH, which are generally seen as commodities versus securities.
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