10 things before the opening bell

10 things before the opening bell

Welcome to 10 Things Before the Opening Bell. If this was forwarded to you, Plus, download Insider's app for news on the go – and . Let's get into it. The long and brutal sell-off that started this month with fears of interest rate hikes pushed the value of the cryptocurrency market below $2 trillion on Wednesday, with Bitcoin and ethereum fell Wednesday, with ethereum threatening to break below the $3,000 threshold. Smaller tokens, including so-called "ethereum killers" cardano and avalanche, also tumbled. Billionaire investor Mike Novogratz expects , and Skybridge Capital CEO Anthony Scaramucci has said because he sees "sloppiness" ahead. US Treasury yields hit two-year highs, and the Fed continues to signal that . As investors navigate inflation and brace for the Fed's hawkish pivot, they've flocked to safe haven assets, sparking a for crypto. Some stats to consider as crypto struggles: The Nasdaq fell into correction territory and extended its streak of choppy trading. Olive Garden and Miramax, for example, have taken legal action against NFT projects that the companies argue violate trademark or contractual rights. , Costco, and Union Pacific, all He flagged tighter , slowing profits, and high valuations as his top three market risks