Bitcoin fell 10% in one day
Bitcoin has fallen nearly 10% in price since the start of the day. Since November, when it set a record of $69,000 per token, its price has fallen 45%. Bitcoin's record low on January 21 was $37,756. The cryptocurrency's value has already sagged to its lowest since September 2021.
Against this backdrop, altcoin prices are falling. Etherium, fell in price by 12.5%, to $2,784.
A day earlier, one of the major U.S. stock indexes, the S&P 500, fell noticeably by 1.1%, to 4,482.73 points. The other day, analyst firm Arcane Research reported that the correlation between bitcoin and the S&P 500 was the highest since October 2020. The NASDAQ high-tech exchange index was also down 1.3 percent.
Due to the U.S. Federal Reserve's tightening of monetary policy earlier this week, 10-year Treasury bond yields rose sharply, and the rate hike caused investors to abandon positions on risky assets.
