BitcoinBTC +5.2%, ethereum and other major cryptocurrencies have fallen sharply, wiping around $200 billion from the crypto market in just a matter of days (though some fear the bitcoin price could fall far further).
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The bitcoin price has dropped to under $35,000, its lowest since July last year, as “extreme fear” grips traders in the aftermath of the Federal Reserve’s biggest interest rate hike in years.
Ethereum and other top ten cryptocurrencies BNBBNB +3.1%, XRPXRP +2.1%, luna, solana, cardano and avalanche are also struggling with market sentiment falling to lows not seen since January.
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