Bitcoin fell to its lowest price in 2022, a 10-month low. The price of Ethereum has dropped below $3,000.
After hitting a 10-month low, Bitcoin’s price was hovering around $32,000 on Tuesday. Ethereum, among other cryptocurrencies, was in the red.
The Bitcoin market was suffering from a sell-off prompted by the US Federal Reserve’s relentless monetary tightening.
TODAY’S BITCOIN PRICE
Bitcoin fell to its lowest price in 2022, a 10-month low. It has, however, recovered somewhat.
The most widely used and largest cryptocurrency fell 3.06 percent to $32,407.90.
“Bitcoin has dropped to US$30,000, its lowest level since July 2021. On Tuesday, Ethereum hit a two-month low, plunging to US$2,300. BTC has broken its short-term rise and is now trading between $27,000 and $30,000 “Mudrex’s CEO and Co-Founder, Edul Patel, stated.
CRYPTOCURRENCIES OTHER THAN ETHEREUM
The price of Ethereum has dropped below $3,000. At $2,413.66, the world’s second largest cryptocurrency was down 0.93 percent.
XRP was down 5.89 percent, Solana was down 3.48 percent, Terra was down 44 percent, Cardano was down 3.41 percent, Avalanche was down 4.58 percent, and Stellar was down 2.27 percent.
Other alt coins, such as Dogecoin, were down 5%, and Shiba Inu was down 2%.
“The crypto market has been trending downhill since April, but it has accelerated following interest rate hikes and geopolitical tensions on the other side. The next few days will be essential for the entire cryptocurrency ecosystem “Patel explained.