This week started with Black Monday, when bitcoin and all other cryptocurrencies collapsed in price. In the middle of the week, a shaky equilibrium appeared to have been reached, with bitcoin floating in the $20-22k area, but the crash continued this morning.
A few minutes ago, bitcoin crashed to $19,100, over the past week, the cryptocurrency has fallen in price by 33.6%. The market capitalization of the coin is only $371 billion.
As for the ether, it fell to $1,005, and now cryptocurrencies are worth about $1,016. Over the past week, this coin has fallen in price by almost 40%, the capitalization is 123 billion dollars
Monero fell by 39%, Avalanche fell by 33%, Cardano – by 22%, Solana – by 23%, Dogecoin – by 29%.
The cryptocurrency market is tied to the stock market, which continues to storm after the decision of the Fed to raise the key rate immediately by 75 basis points. The last time the US Central Bank raised the rate by 75 bp. in 1994.