The crypto market is in critical as Bitcoin (BTC) is hovering at the $ 40,000 level at the time this article is written.
For the record, this morning the BTC has already slipped touching the $ 39,210 level, hitting a record low since March 16th.
What happen?
Here are the details you need to know:
The inflation rate in the United States (US) has hit 4.9%, being at its highest level in 40 years in February.
The worst picture is likely to be for the Mac record far worse than ever before.
This rising inflation factor has something to do with rising prices following economic sanctions on Russia.
The Biden administration also stressed signals of global disruption to energy and food markets.
As a result, the crypto market saw incredible asset liquidity causing almost every asset to be severely affected, especially BTC, Solana (SOL), XRP, Polkadot (DOT), VeChain (VET) and Cardano (ADA).
If you look at the BTC price movement chart, the downtrend pattern started to show since Sunday before getting worse the next day.
According to Coinglass, over $ 429 million of crypto assets were liquidated from across crypto exchange platforms within 24 hours.
Of that amount, of that $ 152 million bitcoin, $ 103 million ether (ETH) was liquidated.
While other crypto investors are panicking, hopefully Malaysian investors will calm down!
The Fear & Greed Index indicates the status of ‘Extreme Fear’ or extraordinary fear. According to the wise investing people, this is the time to look for opportunities to further increase your asset holdings.
Anyway, the author's advice-DYOR and remember the risk of investing is your responsibility.
