Bitcoin fell below $36,000 today as investors fear that the Federal Reserve’s (Fed) rate hikes and balance sheet tightening (Quantitative Tightening: QT) will weigh on liquidity in the market.
Bitcoin fell 1.14% to $35,901.75.
Bitcoin falls in line with the stock markets as investors fear that the Fed may raise interest rates by 0.75% at its June meeting. Although Fed Chairman Jerome Powell said that the Fed is not yet considering a serious rate hike.
- The Dow Jones Industrial Average closed at 32,899.37 points, down 98.60 points or -0.30%.
- The S&P 500 index closed at 4,123.34, down 23.53, or -0.57%.
- The Nasdaq index closed at 12,144.66, down 173.03, or -1.40%.
Experts say that Bitcoin has fallen below the important support at $37,500, which signals a downward trend. Moreover, it can go further down to test $30,000, which, if the level cannot be supported, will cause Bitcoin to fall further to the $25,000 level.
The Spot Market is Open
Saturday, May 7, 2022
| Crypto Updated at | USD Price | Change | %Change |
| 14.00 BTC | 35,811.59 | -225.45 | -0.63 |
| 14.00 ETH | 2,662.36 | -30.64 | -1.14 |
| 14.00 LTC | 95.69 | -0.08 | -0.08 |
| 14.00 BNB | 376.12 | -3.75 | -0.99 |
| 14.00 XRP | 0.59 | -0.00 | -0.54 |
| 14.00 ADA | 0.77 | -0.01 | -1.63 |
| 14.00 DOT | 14.08 | -0.17 | -1.19 |
| 14.00 DOGE | 0.13 | 0.00 | +0.24 |
| 14.00 UNI | 7.22 | -0.11 | -1.53 |
| 14.00 LINK | 10.61 | -0.12 | -1.12 |