Xc2itv6dtGx7kKYwvAQRYW-1200-80.jpg

Bitcoin Falls Under $21.4K, Traders Lose $600 Million

Bitcoin and cryptocurrency traders, in general, have woken to red lines throughout (opens in new tab), as Bitcoin has followed the general trading markets in its significant 9.3% fall to three-week lows of $21,400. It marks the sharpest decline over two months as expectations of a hawkish fed and more aggressive moves against inflation have reduced investor confidence.

Markets are swift to respond to changes in monetary policy. The tentative recovery in stocks and the crypto market following the May-June crash stood on the market’s confidence that they’d already priced-in interest rate hikes throughout 2022. Allied with expectations that inflation would be curbed soon enough that 2023 might see a reversal in the hiked rates – with a controlled return to normalcy – primed the stage for a gradual recovery. 




Source link

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *