Bitcoin, the best-known cryptocurrency in the market, deepens its falls this Tuesday by falling 3%, with which in one week it accumulates a loss of its value of 28%.
First thing in the morning, and according to data from Bloombergbitcoin fell 3%, reaching 22,520 dollars.
However, during this morning it lost 10.25%, reaching a minimum of $20,800.
The cryptocurrency today adds its eighth consecutive session down, although the biggest losses were recorded the day before, when it plummeted 15%.
And this, after learning that the cryptocurrency trading and lending platform Celsius Network suspended all withdrawals, exchanges and transfers between accounts as a result of the “extreme conditions” of the market.
However, experts recall that since last Friday, when the inflation data from the United States was released, which surprised on the upside, bitcoin has fallen sharply.
In this sense, the IG analyst Sergio Ávila assured that inflation in the United States, which rose to 8.6% in May, higher than expected, “causes the market to discount more aggressive increases in interest rates of the central banks and pressuring the US Federal Reserve (Fed) to increase their rates further.
“The rises in interest rates negatively affect technology, all sectors that have to do with growth and, of course, cryptocurrencies, which are conditioned in the same way,” Ávila pointed out.
Since the last increase in interest rates announced by the Fed, on May 4, bitcoin has lost 40% of its value.
Likewise, the value of this cryptocurrency is reduced 50.6% in the year and by about 66% from the historical maximums that it reached last November, when it touched 69,000 dollars.
