Bitcoin prices are falling to their lowest level since July 2021, and various cryptocurrencies are generally falling as global investors flee high-risk investments Bitcoin, the world's largest digital currency, fell 2.7% on Monday and fell 2.1% to $33517 at 13:56 Singapore time. Ethereum, the second largest, once fell 4.6%. Most major virtual currencies were under pressure over the weekend, and pessimism continued into Monday.
The tightening of monetary policy and the decline of liquidity have kept investors away from speculative assets in the global market. The goal is to maintain the algorithmic stability of 1:1 against the US dollar. The price of terrausd fell below US $1 at the weekend and rebounded, which also exacerbated the cautious sentiment around digital assets.
Bitcoin down
Edul Patel, CEO of mudrex, an algorithm based crypto investment platform, said the rise in interest rates stopped individual and institutional investors from thinking about the prospects of the cryptocurrency market.
"The investment level of US $30000 may continue to decline in the next few days," said padrel, chief executive of the company. Mudrex is an algorithm based encryption investment platform.