Bitcoin Drops at $35,000
Bitcoin Drops at $35,000
At 6:24 a.m. Thai time on May 9, 65, the price of bitcoin had fallen 3.48% to $34,200.64. This comes from the US Federal Reserve's (Fed) interest rate hike, dragging liquidity in the asset market and the crypto market.
From the meeting on 14-15 June ago The Fed will raise interest rates to 0.75% and on May 4, 65 that past The Fed's board raised the short-term interest rate 0.50% to 0.75-1.00% and revealed plans to cut the balance sheet.
Investors are worried about rising interest rates and reducing the size of the balance sheet. that will affect the asset market and the crypto market may cause the US economy to recession. After a 1.4% contraction in the first quarter of 65
The experts also revealed that The breakout of the key support at $37,500 signals a downtrend. And if the test plunge of $30,000 can't support it. Bitcoin May Drop to $25,000
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