Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Cryptocurrencies sharply tumbled on Wednesday as rising geopolitical risks captivated investors' attention after the conclusion of the July Federal Reserve meeting.dropped to $64,500 from around the $66,500 level where it traded following Federal Reserve Chair Jerome Powell's press conference, and was down more than 2% over the past 24 hours.
While digital assets suffered losses, most traditional asset classes climbed higher during the day. The 10-year U.S. bond yields fell 10 basis points, while gold was up 1.5% to $2,450, slightly below its record-highs and WTI crude oil prices surged 5%. Equities also soared during the day, with the tech-heavy Nasdaq 100 index rebounding 3% and the S&P 500 closing the session 2.2% higher, led by chipmaker giant Nvidia's 12% gains.
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