Bitcoin plummeted under $25,000 on Monday morning amid weakness in the macroeconomic environment and systemic risk from within the crypto market. By shauryamalwa
Bitcoin plummeted under $25,000 on Monday morning amid weakness in the macroeconomic environment and systemic risk from within the crypto market, data shows.
The asset has slid for nearly twelve straight weeks, falling from nearly $49,000 in March 2022 to under $25,000. It showed some signs of bottoming out in mid-May, but worrying U.S. inflation data released last week did little to cushion falling sentiment. The consumer price index , the most widely tracked benchmark for inflation, rose 8.6% on a year-over-year basis in May, topping expectations that it would decline to 8.2% from April's 8.3%, asSuch data contributed to a fall in Asian markets on Monday. Hong Kong’s Hang Seng fell nearly 3.5%, Japan’s Nikkei 225 fell 3.01%, while India’s Sensex dropped 2.44%. Futures of U.S. technology-heavy index Nasdaq opened 2% lower, while S&P500 fell 1.65%.
According to price-charts, bitcoin had strong support at the $29,000 mark, but the fall below that level now means that the cryptocurrency could drop to its 2017 high of nearly $20,000. Readings on the Relative Strength Index – a tool used by traders to calculate the magnitude of an asset’s price move – dropped under 30, suggesting a reversal could be on the way as short-term buyers react to technical data.Elsewhere, crypto lender Celsius
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Lowest weekly close since December 2020 — 5 things to know in Bitcoin this weekBitcoin suffers at the hands of the Fed and another altcoin implosion as BTC price action exits its macro range.
Consulte Mais informação »
Crypto crash gathers steam over weekend as inflation marks fastest pace of rise since 1981Bitcoin was trading just below $26,000 on Sunday as cryptocurrency investors continued to sell across the space following worse-than-expected inflation numbers.
Consulte Mais informação »
Bitcoin price threatens lowest weekly close since 2020 as inflation spooks marketsCan BTC price avoid a return to weekly losses? Bitcoin toys with multi-week losses.
Consulte Mais informação »
Bitcoin Revisits Late-2020 Levels as It Suffers Fresh SelloffThe world’s biggest cryptocurrency fell toward $25,000 amid a broader selloff fanned by concerns about rising U.S. interest rates.
Consulte Mais informação »