Bitcoin Plunges Below $20,000 Again As ECB Gears Up To Raise Rates ‘At A Faster Pace’

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Bitcoin Plunges Below $20,000 Again As ECB Gears Up To Raise Rates ‘At A Faster Pace’

Chorshanba kuni, Bitcoin fell as low as $19,899 following a risk-off by investors after a volatile New York session on Tuesday. Ethereum dipped by over 9% to $1,114 with other cryptos such as Solana and Shiba Inu plunging by over 10%. Technology stocks led the overnight carnage with the high beta Nasdaq 100 Index (NDX) dropping close to 4% before market close.

Keskin pasayishga ko'plab omillar sabab bo'ldi, ular orasida asosiysi, Evropa Markaziy banki bayonotida Prezident Kristin Lagard detailing a plan to go harder on inflation. Bitcoin and other cryptocurrency investors have particularly been attentive to inflation rate decisions, with major asset classes balking at the prospects of further monetary tightening to tame soaring prices.

Seshanba kungi bayonotida Lagard inflyatsiya bosimini yumshatish majburiyatini yana bir bor ta'kidlab, asosiy iqtisodiy noaniqlikka qaramay, "foiz stavkalarini normallashtirish tezligini oldindan belgilab bo'lmaydi".

Shunday qilib, u bank obligatsiyalarni sotib olishni rag'batlantirish dasturini tugatgandan so'ng, 25 iyul kuni bo'lib o'tadigan navbatdagi yig'ilishda uchta asosiy foiz stavkalarini 21 bazaviy punktga oshirish niyatida ekanligini aytdi. Bank oxirgi marta evrozonada foiz stavkalarini 2011 yilda oshirgan edi. Biroq, ECB rahbari "agar o'rta muddatli inflyatsiya prognozi saqlanib qolsa yoki yomonlashsa, sentyabr yig'ilishida kattaroq o'sish maqsadga muvofiq bo'ladi", deb ta'kidladi. stavkalari oshishi mumkin.

O'tgan ikki oy ichida, Bitcoin miners have also been mukofotlarini tashlab yuborishadi amid plunging profitability and soaring energy prices. According to a report by Arcane Research, May witnessed the biggest sell-off by miners since 2020 with several publicly listed bitcoin mining firms offloading 100% of their May rewards. While dumping by miners has historically signaled the market is entering the final capitulation phase, efforts by miners to sell their BTC in large quantities could negatively affect the cryptocurrency’s price.

BTCUSD diagrammasi bo'yicha TradingView

Technically, although Bitcoin looks quite weak in the $20ks, there is so much hope by various analysts that the narxi oshishi mumkin from here. As of writing, Bitcoin is trading at 20,023 after losing over 4.53% in the past 24 hours. A break below the $20,000 and 2018’s high of $19,798 could trigger a deeper sell-off, potentially sending prices to sub-$17k.The sharp drop was triggered by a plethora of factors, key among them, a statement by the European Central Bank President Christine Lagarde

Asl manba: ZyCrypto