Cryptocurrencies Tumble, With Bitcoin Falling 8% and Ether Down 9% in the Last 24 Hours

Cryptocurrencies Tumble, With Bitcoin Falling 7% and Ether Down 9% in the Last 24 Hours

Bitcoin/Usd Coin Metrics, Breaking News: Markets

1/21/2022 6:49:00 AM

Cryptocurrencies Tumble, With Bitcoin Falling 7% and Ether Down 9% in the Last 24 Hours

Bitcoin plummeted by more than 8% in the last 24 hours, and ether dived more than 9%, according to CoinDesk.

The declines in cryptocurrencies follow Wall Street losses on Thursday. The Nasdaq was down almost 5% this week, and the S&P 500 is into its third straight week of losses.As the 10-year U.S. Treasury yield spiked earlier this week, rising rates have caused investors to shed their positions in riskier assets. The Federal Reserve have also indicated it plans to begin reducing its balance sheet, as well as tapering of bonds and raising interest rates.

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