Since December 2022 the price of Bitcoin has fallen to $25,000

The price of Bitcoin fell to the lowest level in 18 months and this happened because investors fled to high-risk assets such as stocks after US inflation data

During the end of the December 2020 holiday, Bitcoin recorded its lowest price, as it was traded at less than $25,000.

The token is 63% lower than it was when it crossed $69,000 in November. As for its last price, it was $24,066, less than 24 hours ago, at a rate of 12.45%.

Ethereum and cardano also saw their value drop, as did Solana and Dogecoin

We find that Ethereum decreased by 15.8% and is currently trading at $1,234.93, which is the largest drop in one day in one year.

Cardano and Solana are down 13% and 16% and Dogecoin is down 14%.

As for the drop in the price of Ethereum, it is a key aspect of the impending massive merger that will turn it from a proof of work to a proof of stake.

After US consumer inflation jumped 8.6% in the year through May, the cryptocurrency market collapsed again

Which made the Federal Reserve take a more aggressive approach towards monetary policy in the United States due to the high rate of inflation that the country witnessed

The Fed meeting is likely to end with a half-point rate hike, and the benchmark rate will be 1.5%.

The central bank raised interest rates by 0.5% in May, which investors expected more increases this year

CoinMarketcap claims CEL cryptocurrency is down 54%

How much did the recent sell-off in the cryptocurrency market drop?

 The cryptocurrency market drop by $250 million

Last month, investors sold major currencies such as Bitcoin and Ether due to the Federal Reserve's plan to end its ultra-easy policies and the collapse of Terra USD.

The cost of the crypto market crash is $500 billion

cryptocurrency lender Celsius has also halted withdrawals, exchanges and transfers of goods citing extreme market conditions

Celsius stated that all withdrawals, swaps and account transfers will be suspended due to poor market conditions

Secretary Janet Yellen has recommended tighter crypto restrictions and has stated that bitcoin is a very risky investment

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