Market Wrap: Bitcoin Underperforms as Ether and Other Altcoins Rise

Posted on by American Coins & Gold

Market Wrap: Bitcoin Underperforms as Ether and Other Altcoins Rise
Bitcoin was roughly flat on Tuesday while alternative cryptocurrencies such as ether and Solana’s SOL token were up about 5% over the past 24 hours. LUNA, the native token of the Terra blockchain, rallied about 13% as traders chased incentive programs.Overall, trading conditions were choppy across global markets after the U.S. Federal Reserve Chair Jerome Powell suggested that monetary policy could tighten faster than expected – potentially a negative for speculative assets, including cryptocurrencies and equities.Despite short-term price swings, some analysts remain bullish on bitcoin.Latest pricesBitcoin (BTC): $57,622, -1.0%Ether (ETH): $4,661, +5.4%S&P 500: 4,567, -1.9%Gold: $1,775, -0.5%10-year Treasury yield closed…