Bitcoin falls below $25,000, its lowest level in 18 months


The bitcoin It fell below $25,000 on Monday, its lowest level in 18 months, as investors shunned risky assets as global markets tumbled.

The world’s most popular cryptocurrency tumbled around 10% to $24,692 in London morning trading, hitting December 2020 levels.

The fear of a sharp rise in interest rates in the United States and a recession rocked global markets on Monday, following Friday’s release of higher-than-expected US inflation figures.

The correlation between stock markets and bitcoin continues to “gain strength,” AvaTrade analyst Naeem Aslam said.

The value of the virtual drive has plummeted 65% since hitting an all-time high in November 2021.

By 2021, the fledgling sector had attracted more and more players from traditional finance, whose risk appetite was fueled by the accommodative policies of central banks around the world.

But the rate hike Federal Reserve of the United States (Fed), in its attempt to combat the inflation rampant, is weighing on the markets.

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