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Bitcoin drops to its lowest level in 18 months
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2022-06-13 05:21
Shafaq News/ Bitcoin fell to its lowest level in nearly 18 months in Asian trading on Monday, affected by sudden US inflation data that continues to pressure the prices of global risk assets.
The world's largest cryptocurrency fell 8.9% to $24.9k, its lowest level since December 2020, and other cryptocurrencies fell as the sell-off continued on a larger scale, pushing the MVIS CryptoCompare index of digital assets. Digital Assets 100), which measures the performance of the top 100 crypto tokens to drop by up to 9.7%.
Cryptocurrency markets remain at the mercy of the Federal Reserve, as well as stuck with Nasdaq and other risky assets, said Anthony Trenchev, co-founder and managing partner of cryptocurrency trading Nexo.
Data on Friday showed that inflation in the United States jumped to a 40-year high in May, prompting a sell-off in riskier assets including cryptocurrencies and stocks.
Other cryptocurrencies also faced sharp losses, with Ethereum dropping as much as 12% to its lowest level since February 2021, Solana down 14% and Dogecoin down 11%.
https://shafaq.com/ar/%D8%A7%D9%82%D8%AA%D8%B5%D9%80%D8%A7%D8%AF/%D8%A8%D8%AA%D9%83%D9%88%D9%8A%D9%86-%D8%AA%D9%86%D8%AE%D9%81%D8%B6-%D9%84-%D8%AF%D9%86%D9%89-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%81%D9%8A-18-%D8%B4%D9%87%D8%B1%D8%A7
The world's largest cryptocurrency fell 8.9% to $24.9k, its lowest level since December 2020, and other cryptocurrencies fell as the sell-off continued on a larger scale, pushing the MVIS CryptoCompare index of digital assets. Digital Assets 100), which measures the performance of the top 100 crypto tokens to drop by up to 9.7%.
Cryptocurrency markets remain at the mercy of the Federal Reserve, as well as stuck with Nasdaq and other risky assets, said Anthony Trenchev, co-founder and managing partner of cryptocurrency trading Nexo.
Data on Friday showed that inflation in the United States jumped to a 40-year high in May, prompting a sell-off in riskier assets including cryptocurrencies and stocks.
Other cryptocurrencies also faced sharp losses, with Ethereum dropping as much as 12% to its lowest level since February 2021, Solana down 14% and Dogecoin down 11%.
https://shafaq.com/ar/%D8%A7%D9%82%D8%AA%D8%B5%D9%80%D8%A7%D8%AF/%D8%A8%D8%AA%D9%83%D9%88%D9%8A%D9%86-%D8%AA%D9%86%D8%AE%D9%81%D8%B6-%D9%84-%D8%AF%D9%86%D9%89-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%81%D9%8A-18-%D8%B4%D9%87%D8%B1%D8%A7
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