The largest digital currency by market value, “Bitcoin,” continued to decline during trading today, Saturday, to return to trading below the $ 20,000 level as investors continued to reap quick profits after the release of economic data that raised expectations on the continuation of the policy of a sharp rise in interest rates by the Federal Reserve.
Bitcoin fell 0.73% to $ 19.49, losing about $ 373.47, exactly at 6pm UAE time, according to data from CoinDesk.
At the level of other cryptocurrencies, in the same hour of today’s session, the currency “Ethereum” fell 0.8% to $ 1.32.
The currency “Binance Coin” also fell by 0.46%, to register the level of $ 281.20, and “Solana” fell 0.3% to $ 32.84, and the “Dogecoin”, which has a ranking in the top 10 currencies by market capitalization globally, fell 0.27%; To register the level of $ 0.062209.
Interestingly, digital currencies are tracking the performance of high-risk assets, especially stocks that fell in last Friday’s session as the Dow Jones Industrial Average fell 2.1%, the Standard & Poor’s 500 is dropped 2.8% and the Nasdaq fell 2.1% “3.8%. The European Stoxx 600 index also fell by 1.2%.
At the end of last week, economic data showed the success of the US economy in inserting more than expected jobs over the past month, with the unemployment rate falling; This confirmed the continued strength of the US labor market and supported speculation that tightening monetary policy would continue to curb inflation.
