Home Business Cryptocurrency sell-off fuels liquidity drying in global markets – CoinDesk

Cryptocurrency sell-off fuels liquidity drying in global markets – CoinDesk

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Cryptocurrency sell-off fuels liquidity drying in global markets – CoinDesk




[Cryptocurrency sell-off intensifies, causing liquidity to dry up in global markets]

June 14 News Bitcoin extended losses on Tuesday, as investor sentiment took another hit as investors worried that the Federal Reserve may raise interest rates more to curb inflation. Bitcoin fell as much as 6.5% in the morning, hitting its lowest level since December 2020. A range of other coins, from Ethereum to Avalanche (Avalanche Coin), also saw losses.

Edward Moya, senior market analyst at Oanda, said: “With the global cryptocurrency market cap falling below $1 trillion, people’s sentiment towards cryptocurrencies is very bad.” He added that if Bitcoin fell below $20,000, it could lead to even worse price trend. Cryptocurrencies have become a symbol of flight from speculative investments as much of the world tightens monetary policy, drying up liquidity in its global markets. (Golden Ten Data APP)

Massive information, accurate interpretation, all in Sina Finance APP

Responsible editor: Zhang Jingdi

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