The general bearish mood in the markets began to affect cryptocurrencies as well. Bitcoin, which has lost more than 9 percent in the last 24 hours, has started to drag altcoins after it. Cryptocurrency markets are experiencing the sharpest decline of recent times.
Cryptocurrencies, which are among the most discussed investment tools of recent years, from the fluctuations in the markets Looks like he’s had his fair share. 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 24 hours ago, the ladder to 40 thousand dollars bitcoinAs of now, it has regressed to 35 thousand 900 levels. The decline in Bitcoin, the king of cryptocurrencies, has exceeded 9 percent in the last 24 hours.
The drop in Bitcoin has also affected other cryptocurrencies. When we look at the cryptocurrencies with the largest volume, the declines in the range of 6 to 12 percent We see it change. If the decline in Bitcoin deepens, the situation in altcoins it could get much worse we can easily say.
Bitcoin’s one-week price chart looks like this:
It’s hard to say anything about the reason for the decline in the cryptocurrency markets. not possible. Because there was no negative news release about the crypto money markets. However, the announcement of the US Federal Reserve (FED) that it was going to increase interest rates, caused a general deterioration in the markets. panic mood created. In another news we shared with you in the past hours, the 10 most valuable companies in the S&P 500 index lost more than 600 billion dollars in the last 24 hours. we talked about…
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How is the situation with altcoins?
When we look at Coinmarketcap data, we see that Ethereum, the second largest cryptocurrency (ETH) witnessed a decrease of 7.88 percent and traded at $ 2,693. Binance Coin (BNB) fell 6.68 percent to $377. Ripple (XRP) $0.60, Terra (LUNA) $79.96, Solana (LEFT) $81.62, Cardano (ISLAND) is trading at $ 0.78.
This content cannot be considered as investment advice.