Bitcoin Price Falls Below $37,000 in Tandem With Tech Selloff

Bitcoin Price Falls Below $37,000 in Tandem With Tech Selloff [{ "selector": ".hldnf-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 432px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

Digital currency hits its lowest level since August 2021, showing a tight correlation with moves in the stock market [{ "selector": ".wtppx-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 430px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

It is becoming a more common occurrence: When stocks fall, so does bitcoin. [{ "selector": ".vehsn-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 472px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

Bitcoin, the world’s largest cryptocurrency by market value, fell below $37,000 Friday to its lowest dollar value since August 2021, according to CoinDesk [{ "selector": ".cuovk-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 381px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

It settled at $36,689.39, down 11% from Thursday and down 46% from its record in November 2021 [{ "selector": ".vemku-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 387px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

The drop came fast on the heels of a late-afternoon swoon in the stock market on Thursday [{ "selector": ".jozfq-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 387px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

Cryptocurrencies and stocks have fallen together since the start of the year responding to investor worries about how a series of expected Federal Reserve interest-rate increases will ripple - markets [{ "selector": ".wzryc-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 387px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

Cryptocurrencies are no longer an isolated risk asset and are responding to changes in global policy,” said Clara Medalie [{ "selector": ".yehmo-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 387px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

research director at cryptocurrency market data provider Kaiko. “It’s not surprising that both will start to become more volatile as the liquidity taps turn off.” [{ "selector": ".qozay-a", "duration": "1000ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 387px))", "opacity": 1}, {"offset": 1, "transform": "translateY(0)", "opacity": 1} ] }]

see more stories click below Click Here