Bitcoin has fallen to two-month lows as Wall Street panics about inflation and the threat of a recession 📉 The world's biggest cryptocurrency plunged from $39,500 to $36,800 in the space of three hours, CoinMarketCap data shows 🚨
Bitcoin's price dropped to its lowest level in two months on Thursday — coinciding with a dramatic plunge on Wall Street.
The market turmoil shows $40,000 is now a stubborn level of resistance that Bitcoin is struggling to meaningfully crack. The reversal of fortunes is linked to fears that central banks around the world may struggle to bring red-hot levels of inflation under control — with economists previously stating that the cost-of-living crisis would be temporary.
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