Cryptos slip as Powell doubles-down on delaying rate cuts

Cryptocurrencies extended their decline Tuesday while stocks posted a modest rebound following Monday’s stronger-than-expected retail sales data. 

Bitcoin and ether slid around 3% each Tuesday, erasing Monday’s slight gains. Bitcoin hovered around $62,400 at time of publication. The largest cryptocurrency looks poised to enter its next halving — expected to happen late this Friday — in the red. 

While some traders are betting on the halving being bitcoin’s next catalyst for a run, researchers warn that the event is likely already priced in. 

“The halving itself is already known to all market participants, so something like a decrease in issuance that’s already…

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