Bitcoin lost $ 33,000 with a dip of more than 5%

The tightening of global monetary policy, which is shaking the stock markets, is also dragging the digital exchange rates, with the flagship of the area, Bitcoin, falling to a low of eleven months, having lost all 33 thousand dollars.

In particular, the largest cryptocurrency in the market plunged 5.6% and saw its value fall to $ 32,474, the lowest point since June 2021, with liquidity in the digital currency market totaling more than $ 411 million. last 24 hours – 140 of which in bitcoin.

Amid the turmoil in global markets as interest rates have risen from one central bank to another, Bitcoin last week initially lost $ 40,000 in critical support and then near $ 38,000 and $ 35,800, respectively. is now heading for $ 31,500.

Corresponding and bigger pressures are generally received by the rest of the crypto, with Ethereum falling by 5.6% to $ 2,356, Cardano by 11.4% to $ 0.66, Solana by 9% to $ 71.24, while Shiba plunges more than 12% with its price evaporating to just $ 0.000017.

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.