Bitcoin fell another 10% on Tuesday amid a sell-off in crypto-assets as investors anticipate a Fed rate hike.
About this writes Bloomberg.
It is noted that by Tuesday morning, bitcoin had fallen to $22,690.
“Cryptocurrencies have become a symbol of flight from speculative assets as monetary policy around the world tightens to fight inflation,” the agency writes.
The freezing of transactions by cryptocurrency lender Celsius on Monday also amplified the cryptocurrency’s fall.
According to Coindesk, as of 11:38 a.m. bitcoin was trading at $22,756.
Bitcoin continued to fall Monday after the largest U.S. cryptocurrency lender, Celsius Network, suspended withdrawals, exchanges, and transfers between accounts.
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