Cryptocurrencies have almost collapsed due to the tightening policies implemented around the world to combat inflation, reducing liquidity from global markets. The wave of sales in crypto assets has become a symbol of escape from speculative assets. While the dollar held on to its 20-year high with concerns that the US Federal Reserve (Fed) will raise interest rates at its meeting that will end tomorrow and the US economy will shrink, almost all other currencies depreciated.
However, the flight from risky assets such as the stock market and crypto has accelerated. While Bitcoin, which fell sharply in the morning hours, tested the level of 20 thousand dollars, Ethereum was traded just above the $ 1000 levels. The increase in risks in the economy and the strengthening of the dollar hit risky assets first. While the US stock markets fell 20 percent from the peak and entered the bear market, the decline in crypto assets, which is seen as the most risky investment tool, was sharp.
While the decline experienced since the weekend has continued, the daily decline in Bitcoin has again exceeded 8 percent and the leading crypto money has reached the critical limit of $ 20 thousand.
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