Bitcoin Falls to 36,000 Dollars – US Stock Markets Close in the Minus

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 BTC35,811.59-225.45-0.63
14.00 ETH2,662.36-30.64-1.14
14.00 LTC95.69-0.08-0.08
14.00 BNB376.12-3.75-0.99
14.00 XRP0.59-0.00-0.54
14.00 ADA0.77-0.01-1.63
14.00 DOT14.08-0.17-1.19
14.00 DOGE0.130.00+0.24
14.00 UNI7.22-0.11-1.53
14.00 LINK10.61-0.12-1.12

Leave a Reply

Change Language
%d bloggers like this: