As risk aversion takes hold across the market, the crypto market is once again falling.
- In May, the core price inflation index surged to a record-high of 8.6% after the Fed hiked interest rates, driving Bitcoin to plunge to its lowest level in 18 months.
- The cryptocurrency and blockchain-related shares dropped, with Marathon Digital Holding and Coinbase leading to the crash, falling 11.14% and 13.32%, respectively.
- The cryptocurrency market has not been confident all year, after the bull in 2020 and 2021 after crypto started falling in May.
- Both crypto assets and stocks have experienced significant falls from an aggressive series of interest-rate hikes from the US Federal Reserve.
Meanwhile, Celsius Network, one of the largest crypto lenders, also stopped its withdrawals.
BTCUSD down -12.05%, COIN down 13.32%, MARA down -11.14%
Source: Finbold
