Bitcoin’s price slid On Monday, dropping 3% over the past 24 hours to $38,600. Ethereum followed a similar pattern, trading near $2,800, down more than 3% over the last 24 hours.
Cryptocurrency Prices Today: BitCoin, Ethereum
Bitcoin and other cryptocurrencies have had a slow start to the week, primarily driven by ongoing economic and geopolitical uncertainty. Bitcoin, the largest crypto coin, was able to hold some short-term gain during the early hours of Monday, but then dipped below the $40,000 support level by the afternoon and has continued to hit multiple low points throughout the week so far.
The crypto markets have at times followed the stock markets, which experienced a technology-led sell-off earlier in the week amid corporate earnings results.
For weeks, the crypto market — like the stock market — has also been under pressure as investors grapple with rising inflation, the ongoing swirl of economic events stemming increasingly from Russia’s invasion of Ukraine, and the potential for tighter monetary policy by the Federal Reserve. The Fed’s next meeting is right around the corner, which could be filing additional uncertainty among investors.