Jakarta, CNBC Indonesia – Digital asset price token crypto- Bitcoin continues to fall since the beginning of the year. by year to date (ytd) market value Bitcoin has fallen 20.79%.
Within the last 24 hours the price Bitcoin has weakened 3.8%. Since yesterday the price Bitcoin has broken below US$ 40,000/BTC and now it’s at US$ 35,068/BTC.
Even though in early November the price Bitcoin has almost touched US $ 70,000/BTC. This means that it only takes less than 2 months of market cap crypto- The most popular of these has fallen nearly 50%.
Over the past week the largest cryptocurrency has fallen 18%. As BTC collapsed, other giant cryptocurrencies also corrected. Ethereum is down 27% in the last week, Binance Coin is down 25%, Cardano is down 20%, Solana is down 35%, and XRP is down 23%.
Currently one of the sentiments that makes the price Bitcoin Destroyed and melted down is the movement of technology-based financial assets that are currently falling amid the issue of monetary tightening that will be carried out by the Fed.
This weekend, index Nasdaq The composite containing technology stocks also posted a sharp correction of 2.72%.
In a week the US technology stock index has fallen more than 5%. Technology stocks and digital assets known for their growth stories are indeed very sensitive to monetary policy, especially by the increase in benchmark interest rates.
Assets that are considered unable to generate positive cash flows become high risk when the benchmark interest rate rises.
Specifically for Bitcoin cs the additional negative sentiment that caused the price to continue to weaken due to the greenback whose performance continued to strengthen this week.
As one of the alternative digital currency, movement Bitcoin also tends to be in the opposite direction to the US dollar. When the greenback strengthens there is a chance Bitcoin and tokens crypto- others weakened because the majority of these alternative currencies were traded in US dollars.
RESEARCH TEAM CNBC INDONESIA