The crypto market is once again covered in red, with bitcoin dropping to a multi-month low.
Bitcoin’s situation worsened once more in the past 24 hours, and the asset fell to its lowest position since January 24. Somewhat expectedly, the alternative coins are in an even worse shape, with massive price losses from Terra, MATIC, CRO, and others.Once the US Federal Reserve said it will increase the interest rate by 50 basis points, instead of the expected 75, last week, bitcoin’s price jumped and touched $40,000.
At first, it dumped by more than $4,000 to $36,000. While it managed to remain there yesterday, it took another turn for the worse in the past several hours. This time, BTC plunged to just over $34,000 for the first time since January 24 . Naturally, losing roughly $6,000 in just a few days resulted in a substantial change in the overall sentiment, as the Bitcoin Fear and Greed Index went into a deep “As of now, bitcoin struggles at $34,500, and it’s about 4% down on the day once again. Additionally, its market capitalization has declined to around $660 billion.This is all you need not to miss any price action in the raging crypto markets.
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