From Bitcoin and Ethreum ETF approvals to Bitcoin and Ethereum price rises The crypto industry will undergo many developments in the first 6 months of 2024. It was the scene. Now the Bitcoin (BTC) price has fallen below 50 thousand dollars. Thus, it fell to its lowest level since mid-February. Bitcoin instantly dropped to $49,112 on the Bistamp exchange. After this decline, it made a small recovery. At the time of writing this article, the Bitcoin price has risen above 52 thousand dollars.
Ether (ETH), the token of the Ethereum blockchain, dropped to $2,060. This is the lowest level since January 3. Ether’s drop of nearly 25 percent was the worst single-day decline for the token since May 2021.
According to the information shared; The drop in question led to the liquidation of over $1 billion in the crypto futures market. Meanwhile, on the Ether side, there is a liquid position of over 350 million dollars.
This decrease is due to the US Federal Reserve’s recent decision to keep interest rates constant. Likewise, we can say that economic developments in Asia also played a role in the decline in cryptocurrency markets.
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