Last Tuesday, Bitcoin (BTC) lost more than 10% in value - this is the strongest drop since mid-June. Sales in the stock markets did not bypass digital currencies.
On the night of Wednesday, September 14, the BTC rate fell to $20,344. The capitalization of bitcoin over the past 24 hours has decreased to $389.597 billion.
Ether (ETH) fell 9% to $1,571 during the US session but managed to rebound to $1,612 overnight. Other altcoins were also forced to retreat the day before due to pressure from the bears.
Cardano (ADA), Solana (SOL) and Polkadot (DOT) fell 7% to $0.47, $33.8 and $7.15, respectively.
On the other hand, investment in stablecoins has sharply increased. Analysts recorded an increase in the trading volume of Tether (USDT), Binance USD (BUSD), and USD Coin (USDC).
Almost all stocks in the US technology sector suffered big losses. Data on the increase in inflation has become the main trigger for volatility in the market for risky assets, said Teong Hong, executive director of Satori Research.
Since the beginning of 2022, the price of bitcoin has fallen by about 56%, and many experts believe that we have already entered the “crypto winter” phase, which will last at least one year.