Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
A rampant U.S. dollar after a PMI report showed a red-hot U.S. economy may have accelerated the drop.dropped below $68,000 during the early U.S. trading session from around $70,000 earlier in the day, sliding almost 3% over the past 24 hours.
ETH, which surged to its highest price since mid-March to above $3,900 early Thursday, tumbled to near $3,700, but was still in the green over the past 24 hours.report showed a red-hot U.S economy, with output growing at the fastest pace in two years. That drove a surge in the dollar as traders tamped down interest-rate cut expectations, which might have exacerbated the drop in risk assets. The broad-market equity index S&P 500 fell 0.6% from its opening price.
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