Cryptocurrencies, which are among the most discussed investment tools of recent years, seem to have taken their share of the wobbles in the markets. While there has been an expectation for more than $ 40,000 for a while, the selling pressure has also intimidated the investor. So much so that Bitcoin, which stood at $ 40 thousand 24 hours ago, has now regressed to the level of 35 thousand 900. The decline in Bitcoin, the king of cryptocurrencies, has exceeded 9 percent in the last 24 hours.
Bitcoin’s decline has also affected other cryptocurrencies. When we look at the cryptocurrencies with the largest volume, we see that the decreases range from 6 percent to 12 percent. If the decline in Bitcoin deepens, we can easily say that the situation in altcoins may get much worse.
Bitcoin’s one-week price chart is as follows
It is not possible to say anything about the reason for the decline in the crypto money markets. Because there was no negative news release about the crypto money markets. However, the announcement of the US Federal Reserve’s (FED) interest rate hike created a general panic atmosphere in the markets. In another news we shared with you in the past hours, we mentioned that the 10 most valuable companies in the S&P 500 index lost more than 600 billion dollars in the last 24 hours…
How is the situation in altcoins?
When we look at Coinmarketcap data, we witness that Ethereum (ETH), the second largest cryptocurrency, is trading at $ 2,693 with a decrease of 7.88 percent. Binance Coin (BNB), on the other hand, dropped 6.68% to $377. Ripple (XRP) is trading at $0.60, Terra (LUNA) at $79.96, Solana (SOL) at $81.62, and Cardano (ADA) at $0.78.
This content cannot be considered investment advice.
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