The total value of the cryptocurrency market was down 7.1% to $963 billion at 0537GMT, which is more than a $300 billion loss in less than a week. The massive losses in the crypto market come as US stock exchanges continue to plummet amid fears that the Fed's aggressive monetary tightening against record-high inflation could cause a recession in the world's biggest economy. The Dow Jones fell 2.8% to close Monday with a massive 876-point loss. The S&P 500 lost 3.9%, while the tech-heavy Nasdaq dove 4.7%. The Fed's two-day meeting will conclude on Wednesday at 1800GMT, and it is widely expected to make another 50 basis point rate hike. The central bank could signal 75 basis points of interest rate increase for its September meeting to tame consumer inflation that annually rose 8.6% in May. Bitcoin hits lowest level since November. Bu ekzotermik tepkimenin potansiyel enerjisinin low tepkime koordinatına (TK) karşı değişimi görülmektedir.
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16, 2020, according to official figures. The market capitalization of Bitcoin also fell to approximately $400 billion at that time, which is a $200 billion weekly loss. The price later climbed back to $22,850 at 0536GMT for a daily loss of more than 10%. Ethereum, the world's biggest altcoin by market value, had its price dipping at $1,075.80 at 0230GMT -- its lowest since Jan. 14, 2021. It later rose to $1,225 at 0537GMT for a daily decline of 9.3%. The total value of the cryptocurrency market was down 7.1% to $963 billion at 0537GMT, which is more than a $300 billion loss in less than a week. Nobetci eczane karşıyaka.
The total value of the cryptocurrency market was up to $976 billion in early hours before falling to $910 billion. The market, however, is significantly down from $3 trillion market cap that was recorded in November. The cryptocurrency market is highly correlated to the tech-heavy Nasdaq in recent months, and the pessimism in equity markets is regarded as a major reason behind the steep decline in cryptos. The Nasdaq futures were down 2.3% at 9.15 a.m. EDT (1315GMT), indicating another opening in negative territory, although the US stocks finished Wednesday on positive note. The US stock exchanges rallied Wednesday after the Fed raised its benchmark interest rate by 75 basis points on Wednesday, marking its biggest hike in 28 years, and signaled that another 75 basis points of rate hike is on the table for July.
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