Bitcoin

Bitcoin (BTC) Drops Below $57K, Crypto Market Drops 9% Ahead of FOMC Rate Decision

Published

9 months ago

on

Bitcoin (BTC) fell below $57,000 during the European morning on Wednesday, to the lowest level since late February, when the world’s largest cryptocurrency recorded its worst month since November 2022.

BTC is down more than 8% in the past 24 hours, falling below the $60,000 support level late on Tuesday, data from CoinDesk shows. The broader crypto market, as measured by the CoinDesk 20 Index (CD20), lost almost 9%.

Cryptocurrencies have been dogged by risk-on sentiment in broader financial markets amid a stagflationary sentiment in the US after indications of slower growth and sticky inflation dampened hopes of an interest rate cut from the Federal Reserve. The Federal Open Market Committee is expected to make its latest rate decision later today.

Ether (ETH) fell about 8% while dogecoin (DOGE) led declines among other major altcoins with an 11% drop. Solana (SUN) and avalanche (AVAX) both lost about 8%.

Bitcoin fell in April, returning its first monthly loss since August. The 16% drop was the worst since November 2022, when crypto exchange FTX imploded.

UPDATE (May 1, 8:56 am UTC): Updates prices throughout.

Fuente

Related Topics:

Leave a Reply

Your email address will not be published.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

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Trending

Exit mobile version