On Thursday morning in Asia, major cryptocurrencies experienced a decline, with Bitcoin trading just above US$26,000 and all other top 10 non-stablecoin cryptos also recording losses. The overall crypto market decline can be attributed to uncertainty in the macroeconomic environment, as investors assess the ongoing U.S. debt ceiling talks and the latest Federal Reserve meeting minutes released on Wednesday. Justin d’Anethan, head of APAC business development at Belgium-based crypto market maker Keyrock, noted that the trend is led by macro sentiment and not by any industry issue. Meanwhile, founder of crypto exchange Binance, Changpeng Zhao, tweeted that Chinese state broadcaster CCTV’s coverage of Hong Kong’s crypto trading regulatory regime could signal more positivity ahead for crypto markets.
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