Cryptocurrencies rock in the face of mistrust from Russia and gloom on Wall Street


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The value of bitcoin and other cryptoassets fell sharply over the weekend, in response to a tightening of monetary policy by the US Federal Reserve and a proposal to ban cryptocurrencies in Russia.

Come on, let’s hang on! This weekend, cryptocurrencies were in free fall. Bitcoin lost more than 10% of its value, going from 38,380 euros on Thursday afternoon to 29,975 euros on Saturday morning (it was trading around 31,600 euros on Sunday). The drop is even more brutal for ether, by almost 30%, before a slight rebound on Sunday. The tremors have not spared other cryptocurrencies, less known to the general public, such as dogecoin (which takes its name from a meme), solana or cardano. In total, since November, the cryptocurrency market has lost nearly $1 trillion in aggregate value, according to financial media estimates. Bloomberg.

Key rates worry

Traditionally, cryptocurrencies (or cryptoassets) are volatile: their value can go up or down very easily. However, it is rare for the fall to be so brutal. After a peak in November, exceeding 59,704 euros, the value of bitcoin has continued to plummet. In question, various events that affect the world of crypto more or less closely. This is for example the case of the American Federal Reserve (Fed), which must soon raise its key rates to fight against inflation. These concerns have already weighed on Wall Street for several weeks – the Nasdaq has lost more than 10% of its value since the beginning of January – and is also catching up with cryptocurrencies, where many traditional financial players have committed themselves these…



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