Bitcoin (BTC) and the crypto market led by it continue to decline today. Investors are falling into extreme fear, especially in connection with the continued increase in interest rates by the Fed, while the value of the market is plummeting by $ 200 billion. Experts fear that this trigger could lead to a further drop in the price of BTC and other cryptocurrencies.
Index 18 and Crypto
The fear and greed index, which measures the pulse of the crypto market, currently shows 18 for the first time in a long time. This shows that the market is in a zone of extreme fear, while bitcoin (BTC) is falling below its low of $35,000 since July last year. At the time of this writing, BTC is trading at around $34,740, down more than 3% in the last 24 hours.
In addition, the entire market is watching BTC and continues the downward trend. Ethereum (ETH), BNB, Ripple (XRP), Terra (LUNA), Solana (SOL), Cardano (ADA) and Avalanche (AVAX) are falling to their lowest levels since January and are struggling to fight market sentiment.
The biggest recession in history
On the other hand, there are serious losses on the stock markets this week. Nasdaq reports the longest series of weekly losses since 2012. In two months, both Russia’s war against Ukraine and the largest inflation in history have shaken the economies of states, and the consequences continue to affect stocks and cryptocurrencies, intensifying. Therefore, investors are concerned about the policy of tightening the Fed’s monetary policy and are withdrawing their investments.
However, in general, it is clear that cryptocurrencies with lower prices than Bitcoin and Ethereum have fallen more in recent months. Experts say that in this process, especially these cryptocurrencies are more suspicious and act under the guidance of whales. In addition, stocks of stablecoins are also struggling with market volatility and trying to maintain their price balance.
