Bitcoin drops to 3-month low as US Federal Reserve meeting approaches

Bitcoin plunged to its lowest level in Three months on Monday as a cryptocurrency market Facing a sale-off Before of US Federal Reserve (Fed) critical monetary policy meeting this week.

The price of The world’s largest cryptocurrency by market The volume fell to $18,232 at 6:30 AM GMT, the lowest since June 19.

she was trading About $18,650 by 10:42 a.m. GMT for 6.6% daily loss.

Ethereum fell to $1,280, its lowest since July 16, the world’s largest altcoin market value was trading At about $1,316 at 10:43 a.m. GMT for 8.2% daily decline.

She saw some altcoins price diving as much as 12% on today.

The total the value of Cryptocurrency market It fell 6.3% to $908 billion, according to data from digital asset price-tracking website CoinMarketCap.

sell cryptocurrencyoff It comes at a time when investors fear the Federal Reserve will go for a rate to rise of 100 base points instead of 75 base pointsduring the two-day money period policy This week’s meeting to tame rising inflation in United State.

If that happens, it will be the steepest rate to rise in more From 33 years old, like the Federal Reserve last Increase interest rates by 100 basis points in February 1989.

Prospect of to rise of 100 base points climbed up to 34% last Wednesday, but it was 20% by 10:45 a.m. GMT on Monday, according to a FedWatch tool provided by the US global Chicago Mercantile Exchange Group Markets.

indexes in US stocks market They recorded the worst loss for one day in 2022 last Tuesday due to huge sale-off After annual consumer inflation in Country hit 8.3% in August.

On Monday, the futures contracts for the Dow Jones, Standard & Poor’s 500 and Nasdaq were down Nearly 1%, which indicates another potentially weak editorial and trading day.

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