Bitcoin hit its lowest level since December 2020 after US inflation data.
The hard-selling wave in the crypto market over the weekend is also effective on the first day of the new week. Bitcoin slumped to $25,000 and tested its lowest level since December 2020. Along with Bitcoin, there were sharp decreases in other important currencies in the cryptocurrency market.
Ethereum has lost 30 percent in the last seven days. In the first transactions of the week, Ethereum fell to $ 1320. Binance Coin, Cardano and Solana lost 17 percent. Risky assets declined on expectations that the unstoppable inflation in the US would lead to a more aggressive tightening.
After the inflation figures exceed the USA’s estimates, the Fed is expected to increase interest rates by 50 basis points in the next three meetings.