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Technology interest rates presses bitcoin under $ 40,000

13:21  21 january  2022
13:21  21 january  2022 Source:   pressfrom.com

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Bitcoin slid below $ 40 , 000 and ethereum dropped to under ,000 as a broad sell-off intensified Friday, with investors dumping cryptocurrencies along with tech stocks as they prepare for the Federal Reserve to hike interest rates . Bitcoin was down 6.6% to ,140.16 on the Coinbase exchange as of 3.45 a.m. ET. The biggest and oldest cryptocurrency has slumped nearly 20% over the last month to stand far below November's record high of close to ,000. Meanwhile, ethereum was down 7.8% to ,894.41.

Bitcoin 's price fell below $ 40 , 000 for the first time in months in the early hours of Jan. 21. (CoinDesk Bitcoin Price Index). "Talk of the town this week is the latest jump in bond yields, most notably U.S. Treasuries, as investors continue to position for an accelerated tightening timeline. The market is now pricing in at least 4 rate hikes this year, with the probability of a 5th ticking up this week. While a lot of headlines have focused on nominal yields, it’s the recent spike in real yields that matters more in our opinion, especially for non-income-producing assets like bitcoin and gold," they wrote.

the prospect of a significantly tighter monetary policy in the US is increasingly going to digital currencies such as Bitcoin.

Bitcoin ist die älteste und nach Marktwert größte Kryptoanlage. (Symbolbild) © Nicolas Armer / DPA Bitcoin is the oldest and market value largest crypto system. (Symbol picture)

On Friday, the price of the oldest and market value largest crypto system fell to the deepest level since last August. In the meantime, Bitstamp 38.259 US dollars were marked on the trading platform. The day before the course had just over $ 43,000.

Other digital values ​​also gave them strongly. The second largest cryptostation ether, the second largest cryptostation ether, was about eight percent, noticeably noted under the 3000 dollar trademark. The value of all around 17,000 crypt feeds is currently about 1.8 trillion dollars. That's good a trillion less than two months ago. In November, a record value of around 2.9 trillion dollars was marked.

US monetary policy loses risky equipment

A significant burden on risky installations such as digital values ​​is currently the US monetary policy. It is expected that American central bank Fed will soon be reacted to high inflation with interest rates. The Fed itself signals three pitches for this year so far, on the financial markets is calculated with four streamlation steps.

rising interest rates are usually poison for risky asset classes, which include bitcoin and other crypto currencies due to their part of extreme price fluctuations.

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usr: 1
This is interesting!