On July 26, the price of Bitcoin (BTC) fell to a level not seen in more than a week as investor anxiety grew in anticipation of the Federal Reserve raising interest rates.
Bitcoin Slumps
According to TradingView, the leading cryptocurrency is currently trading below $21,000 at $20,955, down 4.26 percent today and a further 7.17 percent over the past week.
As a result, the total market value of the digital asset is currently $400.13 billion. More than a week ago, on July 18, BTC had a market cap of this amount.
Hopes for a long-lasting Bitcoin recovery have been dashed by the dip, which has brought the coin’s trading range back to $19,000 to $22,000.
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Featured image from Shutterstock, charts from TradingView.com
Tags: bitcoinbtcusdFed hike ratesFOMC
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