Bitcoin Nearly Drops Below Its Lowest Level Since 2020

Bitcoin price on the cusp of breaking lowest level since 2020.

The leading cryptocurrency bitcoin sank as much as 7.5% and was trading at $18,370 as of writing.

[{"selector":"#anim-fdd556f5-3305-464f-9370-7c39060bcdb2","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-952bba07-de4e-41bc-9b03-7ecfa8b9323b","keyframes":{"transform":["translate3d(-95.61403%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-87766d39-72fa-406d-bc61-54f99791202e","keyframes":{"transform":["translate3d(115.84158%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5422b709-6c6f-4d63-9807-29696c2dbbff","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9a825391-eb31-475b-9a15-cc11c84d31c9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The entire market is in red as investors are bracing for higher rates than expected for the coming months

[{"selector":"#anim-8ae693fd-5010-4f2a-a544-2da38062649e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4cc941fd-b74e-4021-a265-32ebc797f2a2","keyframes":{"transform":["translate3d(-94.00428%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f201cf8-b02c-4ff8-bd0f-44e599091c2b","keyframes":{"transform":["translate3d(115.51156%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c86c5716-acba-4281-80a0-446490df5352","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1970d8d9-58cf-4496-9e73-45dc29b1036b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Ether, the second-largest token, was also trading at two month low at just around $13,000.

[{"selector":"#anim-cb968815-0c32-442f-99bb-216818172cd6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e1b48c0e-c60b-47cf-8b42-578320ec493a","keyframes":{"transform":["translate3d(-95.71734%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6c41d462-9a33-46d0-9454-b1959e0a5fcd","keyframes":{"transform":["translate3d(117.82179%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-51cd9fe0-8a1f-41b5-81fe-a1bf8931c3e7","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c4b58bf6-36b1-41ab-9a14-3f126e40fa90","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Ripple’s XRP token was among the biggest decliners, shedding as much as 13.5%.

[{"selector":"#anim-c66a41d4-a0c5-4cd8-b3cd-03526b2a45c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a597a3b2-a6f6-4978-964c-a07cf0b2cfa9","keyframes":{"transform":["translate3d(-93.11065%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6768b2c-e687-4f33-9a01-47da775cc4d4","keyframes":{"transform":["translate3d(117.49175%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7fb1e74e-b317-4de0-b74b-25a4a276add6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ce26180d-cc83-43cd-acc3-60af734576d0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The entire value of the crypto market is down by $70 billion in the past 24 hours to $941 billion.

[{"selector":"#anim-f0a84b9e-8abd-45fa-82bb-a203edf68469","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ed71a04-0257-4a10-bac2-dc86497a2aa6","keyframes":{"transform":["translate3d(-94.43255%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54d65b8d-387f-4b20-90ba-03b94df0c320","keyframes":{"transform":["translate3d(117.16172%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c5290a0a-b520-4b60-8040-a38aabdeab2f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22a3abd3-01b4-40b0-850f-82c28fad4ef8","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Federal Reserve enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to fight inflation.

[{"selector":"#anim-971302bf-9e4f-4d79-b65d-b8f9dad6ec81","keyframes":{"opacity":[0,1]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e667a6a3-3025-41fd-93eb-1967baceb3bc","keyframes":{"transform":["translate3d(-87.37864%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1900,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2792233f-bdf9-43a3-85a4-fa2004b64719","keyframes":{"transform":["translate3d(115.51156%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-830aa6be-97df-49ea-996f-9767fccd9efa","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-85e1578e-5f56-46df-8ab2-7a7a5cb6b7b7","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The entire crypto market is expected to remain in red for the short term.

[{"selector":"#anim-75f8dbf5-dc98-4d5d-8aff-14ba50ddcdd5","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-820458a3-b0e9-4741-97c4-0ce46d2e7cb3","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ffd64f72-ab4e-407e-9172-3e851cbef8aa","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d9536970-a247-4a19-992c-f29323456fea","keyframes":{"transform":["translate3d(-245.90158%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-53d32bf0-0321-40a4-9fc1-e81d22830060","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...