Bitcoin remains in downward mode but managed a brief 4% rise this morning. Today (January 25) the bitcoin price rose by 4.01% and moved at $36,118.76.
On Jan. 24, bitcoin fell 6 percent to $33,352.50, a decline of more than 50 percent since hitting a record high of more than $69,000 in November 2021.
As a result, the market capitalization of the crypto market has dropped by over $130 billion in the last 24 hours.
Bitcoin has also been pressured by fears that rising inflation in the U.S. could prompt the Federal Reserve (Fed) to accelerate its monetary tightening, putting pressure on market liquidity.
At the same time, cryptocurrencies are also being pressured by the fact that various countries are issuing regulations for the crypto market.
The US authorities are considering regulating transactions with cryptocurrencies. This could be done under the supervision of the SEC as well as the taxation of cryptocurrencies.
Chinese authorities have banned any cryptocurrency-related activities and the Russian Central Bank is proposing a ban on the use of cryptocurrencies along with a ban on crypto mining in Russia. Russia is one of the largest bitcoin mining countries.
The Spot Market is Open
Tuesday, January 25, 2022