Bitcoin drops to its lowest level in 3 months

Bitcoin drops to its lowest level in 3 months as investors abandon risky assets.

  • Bitcoin drops 5% to its lowest level in 3 months
    Bitcoin fell to its lowest level at $ 18,276

Bitcoin fell to a 3-month low on Monday, as investors dumped risky assets amid expectations of higher interest rates in the United States.

According to “CNBC” (an economic television channel), the largest cryptocurrency by market value fell by 7.17% at $ 18,348.50, to reach its lowest level since June 19, before it reduced its losses later, and returned to recording 19,074.28 dollars.

Ethereum fell 6.64 percent to $1290.20, Ripple fell 12.46% to 34.55 cents, and Binance fell 4.62% to $260.15.

Risky assets have come under tremendous pressure, after many expectations that the Fed will stick to its tight policy schedule.

The central bank is widely expected to approve, this week, a 0.75 percentage point increase in the interest rate, for the third time in a row, which would raise benchmark interest rates from the 3% range to 3.25%.

The Federal Reserve has been raising interest rates, since March, to slow the pace of demand and reduce prices, and it intends to continue this measure until the beginning of the year 2023 at least, to limit the rise in prices.

The article is in Arabic

Tags: Bitcoin drops lowest level months

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