Bitcoin plunges 12%, collapses $45,000… Interest rates seem to be affected


The surge in US interest rates appears to be affecting the bitcoin market as well, according to Bloomberg News of the United States on the 26th.

Bloombergun News analyzed that investors seem to be disposing of risky assets such as stocks and cryptocurrencies (virtual currency) as interest rates in the US recently surged.

In fact, Bitcoin fell below $45,000, breaking below its previous low. As of 5 p.m. on the 26th (Korean time), Bitcoin in the US coin market cap is recording $44,469, a decline of 11.66% from 24 hours ago.

This is a break through the previous low. The previous low was $45977, recorded on the 24th.

Bitcoin reached the 58,000 dollar level on the 22nd and began to plunge, fell to the 45,000 dollar level on the 24th, and rebounded on the 25th, but again fell below the 45,000 dollar level on the 26th.

Bitcoin price trend in the last week-coin market cap capture

As a result, Bloomberg said that the weekly decline of Bitcoin will be more than 20%, the largest since March last year.

Bloomberg analyzed that the surge in US interest rates appears to have begun to affect the cryptocurrency market as well.

The previous day’s US interest rate soared more than 1.6%, with the benchmark 10-year Treasury bond yield surged more than 10bp (1bp=0.01%p) in one day. The 10-year interest rate has risen from 0.9% at the beginning of the year to 1.09% at the end of January and is now exceeding 1.5%. Interest rates in the US are rising sharply, especially this month.