Bitcoin (BTC) and Ethereum (ETH) are both trading in the red, below $23,000 and $1,600 marks, respectively. Traders are hesitant to place bids ahead of a critical week of economic developments in the United States, including nonfarm payroll statistics and remarks by US Federal Reserve Chair Jerome Powell. The global cryptocurrency market has been in a downward trend for the past few weeks due to the bearish market sentiment, which has had a negative impact on the price of Bitcoin. However, the growing interest of large financial institutions in Bitcoin and Ether is contributing to their price appreciation. Nevertheless, regulatory crackdowns on cryptocurrencies may significantly affect the values of Bitcoin and Ether. In the meantime, Bitcoin’s live price stands at $22,465, and the ETH/USD pair is presently trading in a tight range between $1,550 and $1,580 levels.
