{"id":444190,"date":"2022-05-09T16:21:33","date_gmt":"2022-05-09T13:21:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-sinks-below-33k-to-lowest-price-since-july-2021\/"},"modified":"2022-05-09T16:21:33","modified_gmt":"2022-05-09T13:21:33","slug":"bitcoin-sinks-below-33k-to-lowest-price-since-july-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-sinks-below-33k-to-lowest-price-since-july-2021\/","title":{"rendered":"#Bitcoin sinks below $33K to lowest price since July 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35d52a8b4e4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35d52a8b4e4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-sinks-below-33k-to-lowest-price-since-july-2021\/#%E2%80%9CBitcoin_sinks_below_33K_to_lowest_price_since_July_2021%E2%80%9D\" >&#8220;Bitcoin sinks below $33K to lowest price since July 2021&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_sinks_below_33K_to_lowest_price_since_July_2021%E2%80%9D\"><\/span>&#8220;Bitcoin sinks below $33K to lowest price since July 2021&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The price of bitcoin plunged below $33,000 on Monday \u2013 a downturn that has coincided with a sustained losing streak for US stocks as the market brace for the possibility of a recession.<\/p>\n<p>Bitcoin was down about 5% to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $32,934 as of 9 a.m. ET, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/price\/bitcoin\">Coinbase<\/a> data. The price fell to its lowest level since July 2021.<\/p>\n<p>Risk-averse investors are shedding their volatile assets, such as crypto tokens and tech stocks, as the Federal Reserve moves forward with its plan to raise interest rates to fight inflation. The central bank is tightening monetary policy after taking a lenient approach during the COVID-19 pandemic.<\/p>\n<p>\u201cI think everything within crypto is still classed as a risk asset, and similar to what we\u2019ve seen with the Nasdaq, most crypto currencies are getting pummeled,\u201d Matt Dibb, COO of Singapore-based crypto platform Stack Funds, told Reuters.<\/p>\n<p>The tech sector\u2019s recent poor performance reflects a declining investor appetite for riskier holdings. The tech-heavy Nasdaq Composite finished 1.5% lower last week and posted its worst single-day drop since 2020 last Thursday during a rout in which the Dow Jones Industrial Average plunged more than 1,000 points.<\/p>\n<p>Bitcoin\u2019s current price is down substantially from its all-time high of $69,000 achieved last November. Its value has fallen about 50% over the last six months.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_15.jpg?w=1024\" alt=\"Bitcoin\" class=\"wp-image-22191017\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_15.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_15.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_15.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin has fallen to its lowest level since July 2021.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/Westend61<\/span><\/figcaption><\/figure>\n<p>The broader crypto market performed even worse, sinking nearly 7% over the last 24 hours from 9 a.m. ET. Ether fell about 6% to $2,397.48, while Solana was down about 8% to $71.50.<\/p>\n<p>Bitcoin is the largest cryptocurrency based on its market cap, which exceeds $626 billion.<\/p>\n<p>Bitcoin\u2019s 40-day performance correlation with the S&amp;P 500 has hit a record high of 0.82, according to Bloomberg. If stocks struggle this week and beyond, the leading token and other cryptocurrencies are likely to sink as well.<\/p>\n<p>Last week, the Fed matched the market\u2019s expectation by hiking its benchmark interest rate by a half-percentage point.<\/p>\n<p>Fed Chair Jerome Powell initially stoked a \u201crelief rally\u201d by revealing the bank wasn\u2019t considering larger hikes to stem inflation \u2013 but that relief turned to panic as investors digested the difficulty of the Fed\u2019s mission to cool the economy without triggering a recession.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/09\/bitcoin-sinks-below-33k-to-lowest-price-since-july-2021\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin sinks below $33K to lowest price since July 2021&#8221; The price of bitcoin plunged below $33,000 on Monday \u2013 a downturn that has coincided with a sustained losing streak for US stocks as the market brace for the possibility of a recession. Bitcoin was down about 5% to approximately $32,934 as of 9 a.m&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":444191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_07-2.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,128951,76127,70551,72332,91261,80348,70359],"class_list":["post-444190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-5-9-22","tag-cryptocurrency","tag-inflation","tag-nasdaq","tag-recession","tag-sp-500","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=444190"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/444191"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=444190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=444190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=444190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}