Bitcoin fell 15% in the last 24 hours, plunging below $40,000 for the first time since middle of March. Meanwhile, Ethereum was down 14%, retreating below the $3,000 level for the first time since March 22.
BTC was trading at $39,783 at the time of writing, while Ether (ETH) fell to $2,978.54, according to Coingecko data.
Investors are weighing the prospects of rising interest rates, skyrocketing inflation, and global commerce being disrupted as a result of Russia’s attack on Ukraine, among other factors.
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Bitcoin Retreats To Monthly Low
Faced with the threat of further rate hikes by the US Federal Reserve, Bitcoin, along with stocks, is sliding to a monthly low. Hundreds of millions of dollars worth of liquidations have occurred as a result.
Market experts believe that the central bank’s balance sheet reductions are exerting downward pressure on stocks and risk assets, with Bitcoin potentially losing allure.
Decentrader co-founder filbfilb concurred with these severe headwinds, statin ..
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