On Monday, bitcoin continued its decline, which began last week. The current quote of the most popular cryptocurrency is $23,554. The last time bitcoin fell below $24k was in September 2020. Analysts note that over the weekend and Monday morning, the cryptocurrency market lost more than $150 billion. The main reason for the fall of the entire cryptocurrency market, experts call the maximum inflation in the United States for more than 40 years. The US Federal Bureau of Labor Statistics reported that the consumer price index in May was 8.6% more than in the same month last year. The US Federal Reserve is expected to raise interest rates this week to eliminate inflationary pressures that pose a risk to price stability and employment. The Ethereum exchange rate is also declining: the current ether quote is $1,183.04. Investors are getting rid of cryptocurrencies amid a broader sell-off of risky assets. At the same time, last week the fall in the crypto market was also caused by a strong decline in US stock indices. As you know, the value of cryptocurrencies often depends on the price of stocks and other assets. When these indices fall, the cryptocurrency also falls in price. Also, according to analysts, the tightening of the policy on digital assets by central banks of many countries has a negative impact on the crypto market.
