Inflation fears, worries about interest rate hikes and jitters about a possible economic slowdown continue to rattle the cryptocurrency market on Tuesday, with market capitalisation shedding 3 more percent to reach $1.54tr.
As of 1235 hours GMT, the largest cryptocurrency Bitcoin’s price dipped 3.8 percent to $31,727. With this decrease in price, the market capitalisation of the biggest crypto has reached $603.7b. Bitcoin has shed 17.9pc of its value over the last week. Bitcoin dropped below the $31,000 mark during the intra-day trading for the first time since July 2021, putting its decline from a Nov. record high to more than 50pcamid a global flight from riskier investments.—TLTP
