After several days of market rise, cryptocurrency prices began to fall again. Bitcoin has dropped 13.5% in the last seven days and is now trading around $21,200. Ether has dropped by 17% and now trades at around $1,600.
Global financial markets are volatile in the face of rising global inflation. The US Fed announced a 0.75 percentage point rate hike for the coming month during a meeting a few days ago.
According to data, the crypto market is experiencing a selloff and liquidation of positions. More than $637 million in cryptocurrency positions were liquidated. Currently, the total crypto market cap exceeds $1 trillion. This indicator has dropped by nearly 2% in the last 24 hours.
Today’s stock market is also down. The Nasdaq, Dow Jones, and S&P indexes are down 2.6%, 0.86%, and 1.29%, respectively.
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