Prices of cryptocurrencies declined today, as investors await the results of US company earnings that could impact investor appetite for risky assets again.
Bitcoin dropped by 2.13%, reaching a price of $66,837, according to CoinDesk data. Meanwhile, Ethereum lost 2.25%, reaching $2,819, and Ripple fell by 3.16%, with a price of $0.355.
A report by cryptocurrency trading company Wisent indicated that upcoming quarterly earnings of American companies might significantly affect investor risk appetite in the stock market, which could in turn impact the cryptocurrency market due to strong correlation between asset classes.
The decline in digital currency prices today comes as investors seek profits, after Bitcoin reached a record high of $69,300, following a week of gains. This trend signals investors’ readiness for a new wave of activity as the US elections approach.
