The downtrend in the crypto money markets continues at full speed. experienced Russia-Ukraine war and banks globally interest rate increase It has a very negative impact on cryptocurrencies. And also LUNA’s downfall and the fact that BNB is being investigated by the SEC is also creating selling pressure in the cryptocurrency markets. As a result, the largest cryptocurrency Bitcoin drop trend continues. Along with the drop in Bitcoin price, other crypto assets follow.
Bitcoin can’t get out of downtrend
With the recent drop in Bitcoin to the level of 25 thousand dollars so regressed. Finally, seeing these levels in December 2020, Bitcoin has not yet been able to break the long-standing downtrend. With Bitcoin seeing $25,000, other cryptocurrencies also hard falls continues to live.
The current value of Bitcoin 25 thousand 600 dollars watching levels. Late at night, the leading cryptocurrency 25 thousand 150 dollars saw the levels. In cryptocurrencies, which have not made its investors smile for a long time, it has been started to be talked about that the bear season has come and there will be no bigger rises for a long time.
While the decline in Bitcoin negatively affects other cryptocurrencies, it is in the second place in terms of market value. Ethereum continues to lose value. The second largest cryptocurrency has been around in the last week. lost 30 percent of its value.
Inflation crisis all over the world US Federal Reserve (FED) pushes countries to raise interest rates. With the increase in interest rates, the strength of cryptocurrencies also tends to fall against the dollar. The Fed plans to continue to increase interest rates in the coming period. from the Fed in the next 3 months Rate hikes of 50 basis points each Waiting. in the US at the end of May inflation 8.6 percentIt has reached . Inflation figures realized above expectations may also trigger new interest rate decisions.
So what do you think about the Bitcoin price and the drop? You can share your views with us in the comments section.