The leading cryptocurrency Bitcoin (BTC), which has gained downward momentum over the past week, accelerated the decline in value last night and regressed to a price level of $ 43,300. This depreciation of bitcoin has once again given a boost to the cryptocurrency market. Ethereum (ETH) started trading at $3,200 after recent bearish movements. On the other hand, according to CoinMarketCap, the total market value of cryptocurrencies has again fallen below $2 trillion.
Bitcoin’s Downtrend Continues
The cryptocurrency market recorded high price volatility last night after the publication of the FOMC protocol. Although there was consensus on a narrowing of the balance sheet, most members approved an interest rate increase of 50 basis points more than once during the year. However, there were no critical statements in the FOMC minutes other than market expectations. In addition, US Treasury Secretary Yellen also stated in her speech that Russia cannot evade sanctions by using cryptocurrencies, and did not make any statements that could be considered negative regarding crypto assets.
Bitcoin, which has gained downward momentum over the past week, accelerated the decline in value last night and fell to a price level of $ 43,300, taking into account the latest price movements. This loss of bitcoin value has also given a downward momentum to the cryptocurrency market.
The latest situation on the cryptocurrency market
Most altcoins in the cryptocurrency market have turned down again, accelerating their bearish movement. Ethereum (ETH) started trading at the price level of $ 3,200 after the recent depreciation. On the other hand, according to CoinMarketCap, the total market value of cryptocurrencies has again fallen below $2 trillion.
