Bitcoin fell again on with the price hovering around $35,000, down roughly 4% for the day. Bitcoin, the world’s largest and most well-known cryptocurrency, is currently worth nearly half of what it was in November, when it peaked at $69,000. It was last trading at $35,049, down from $34,000 the day before and following a sharp drop on Friday.
The currency has experienced huge price swings as risk appetite has declined due to inflation worries and expectations of a faster pace of interest rate rises from the US Federal Reserve. With equities plunging on Friday, other risk assets have plummeted as well.
Since the onset of the epidemic in March 2020, the S&P 500 and Nasdaq have experienced their largest weekly percentage declines. Bitcoin was sliding on Friday, according to Edward Moya, senior market analyst for the Americas at OANDA, as "crypto traders de-risk portfolios following the massacre in equities" and ahead of the Federal Reserve policy meeting next...
