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First Mover Americas: Bitcoin Drops to 3-Month Low as Crypto Traders Turn to Fed

At press time, bitcoin, (BTC) was changing hands at around $18,700, down 3.8% on the day. Ether (ETH) was trading at just above $1,300, well off last month’s $2,000 price high, even though last week’s Merge on the Ethereum blockchain – the network’s landmark transition to a more energy-efficient “proof-of-stake” system – went smoothly.