Bitcoin CRASH wipes billions off crypto market after Federal Reserve news

BITCOIN is down about 9% today and other cryptocurrencies have crashed.

The cryptocurrency market has been said to be a red sea this morning.


Bitcoin Drops After Fed AnnouncementCredit: Getty Images – Getty

The crash occurred after the Fed released “tough” minutes.

Bankers are sometimes referred to as “hawks” if they announce tightening of monetary policy.

The minutes stated that the Federal Reserve will reduce support for the US economy, which is bad news for riskier assets such as cryptocurrencies.

The crash has also been linked to a decline in the US stock market, which has been linked to fears that interest rates are about to rise.

Bitcoin, the world’s largest cryptocurrency, is down 8.6% in 24 hours to 4.50 AM ET.

This is a significant depreciation of the popular currency.

Ethereum is the second largest cryptocurrency and is 12% lower.

Solana’s coin fell by 13%.

Bitcoin is now at its lowest level since the flash crash in December.

Bitcoin traded at $69,000 in November, but today it reached a low of $42,579.93.

After the December crash, Bitcoin was trading around $50,000.

The value of Bitcoin has fluctuated significantly since its launch in 2009.

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