Bitcoin lost $ 32,000 with an 8% dip

LAST UPDATE 20:20

The tightening of global monetary policy, which is shaking the stock markets, is also dragging down digital exchange rates, with the flagship of the space, Bitcoin, losing support one after the other.

In particular, the largest cryptocurrency in the market plunged 7.6% and saw its value fall to $ 31,469, while intra-conference it had reached $ 31,017, as liquidity in the digital currency market exceeded $ 411 million in total. last 24 hours – 140 of which in bitcoin.

Amid the turmoil in global markets as a result of rising interest rates from one central bank to another, Bitcoin first lost the critical support of $ 40,000 last week, then the close of $ 38,000 and $ 35,800 and is now under doubt that of 31,500 which now leads to 30,000 and 27,000.

Respective cryptocurrencies are generally under similar pressure, with Ethereum down 8% to $ 2,317, Cardano down 11.7% to $ 0.647, Solana down 9.4% to $ 67.98 and Shiba down. plunges more than 14.5% with its price evaporating to just $ 0.000016.

The fall of Bitcoin over the weekend began when Terra’s stablecoin the UST temporarily lost its hold on the dollar after a series of major liquidations of the Anchor Protocol, and widened when stock indices in Asia opened with significant losses.

At the same time, the US dollar continues to benefit from panic markets, while the Australian dollar and the Indian rupee are showing strong losses.

Analysts had warned of a fall in Bitcoin if the overall economic outlook continued to deteriorate.

“Managers are not buying high-risk assets at the moment,” Kurt Grumelart, a Zerocap trader, told the Telegram last week, warning of the current correlation between Bitcoin prices and Wall Street.