Bitcoin (BTC) and other cryptocurrencies sustained a considerable blow as the U.S. Federal Reserve’s decision to raise interest rates resulted in the liquidation of hundreds of millions of dollars from the markets.
The collapse of multiple banks has already led to an increase in liquidity, causing a reversal of a significant portion of the quantitative tightening measures in just one week.
Now, market intelligence firm Coinglass reported that in just the past 24 hours, nearly $360 million in crypto assets were sold off. The impact of the Fed’s move reverberated throughout the digital currency world, leaving investors and traders scrambling to adjust their portfolios.
(By Christian Encila)
All Comments