Fed reserve strict, crypto market shrinks: Bitcoin to $ 54,500, board crashes by 24%

Fed reserve strict, crypto market shrinks: Bitcoin to $ 54,500, board crashes by 24%

Why did the Krypto Markt break in today? A hard attitude of the Federal Reserve has led to a massive decline in the entire crypto market capitalization, which is now under USD 2 trillion and has reached the lowest level in over four months. The events of the past few days have led to significant losses, with Bitcoin falling to $ 54,500 and the Memecoin board has dropped by 24 percent in the last 24 hours. These developments have stained uncertainty on the market and raised questions about the sustainability of the current path.

causes of the crypto crash

The decline on the Krypto Markt is largely due to the hard attitude of the Federal Reserve. Fed chairman Gary Gensler warned at the European Central Bank conference in Portugal about the risks of a great deficit and a potential decline in interest rate cuts. Investors have unsettled these statements and led to massive capital outflows. The current situation is further destabilized by the repayments in Bitcoin and Bitcoin Cash by Mt. Gox, which creates additional uncertainty.

The effects on the Bitcoin course

The Bitcoin course is one of the largest losers of this break -in and fell from $ 61,500 to $ 54,500. This marks the first time since the end of February that the course has fallen below $ 55,000. Analysts warn of further declines because technical indicators indicate a possible decrease in $ 50,980. Such a scenario would mean a further decline of 17 percent and tighten the market situation.

The future of Brett

The Memecoin Brett, which has grown strongly in recent months, has a massive decline of 24 percent in the last 24 hours. The trading course is just over 0.100 USD, and analysts warn of another crash if this value cannot be kept. A decline below $ 0.45 could trigger a longer phase of the Baisse from which a recovery could become difficult.

The events of the past few days clearly show how volatile the crypto market can be and how quickly the mood can change. Investors should therefore be careful and keep an eye on the developments in order to be able to react appropriately.

- Nag