Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Crypto Market Sees $130 Billion Sell-Off Over Last 24 Hours

Added 01-24-22 11:16:02am EST - “The cryptocurrency market lost nearly $130 billion in value over the last 24 hours as major digital coins continue their extended sell-off.” - Dailycaller.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Dailycaller.com: “Crypto Market Sees $130 Billion Sell-Off Over Last 24 Hours”. Below is an excerpt from the article.

The cryptocurrency market lost nearly $130 billion in value over the last 24 hours as major digital coins continue their extended sell-off, multiple sources reported.

Bitcoin dropped 4.81% to $33,693.63 over the last 24 hours while Ethereum slid 9.41% to $2,206.22, according to Coinbase. Both assets fell to their lowest level since July 2021, and each has lost roughly 50% of its highest value.

As bitcoin’s decline continues @PerianneDC told @SquawkCNBC that volatility is “not necessarily a bad thing.” https://t.co/Hptf2xBTJP pic.twitter.com/7JRzHQYUax

Cryptocurrencies have trended similarly to stocks, which have seen a sell-off since the start of 2022. Investors have dumped their assets, especially technology stocks, in preparation for tighter monetary policies from the Federal Reserve, including interest rate hikes and halting of the central bank’s asset purchasing stimulus program. (RELATED: Home Sales Surge To 15-Year High in 2021)

“Looking forward, our most immediate concern is how equities markets respond to this week’s Fed meeting, especially after having just endured their worst week since the global onset of Covid,” Valkyrie Funds chief executive Leah Wald told CNBC.

Read more...



If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE