BitcoinBTC -0.9%, ethereum and other major cryptocurrencies have crashed this weekend, with more than $100 billion wiped from the combined crypto market after U.S. Treasury secretary Janet Yellen issued a stark crypto warning.
The bitcoin price has dropped to around $27,000 per bitcoin, its lowest price since late 2020 while ethereum has crashed to under $1,500 per ether. Smaller cryptocurrencies are performing even worse, with BNBBNB -0.7%, solana, cardano, XRPXRP -1%, dogecoin, tron and avalanche all seeing double-digit percentage declines over the last 24 hours.
The latest bitcoin and crypto sell-off was sparked by fears the Federal Reserve could put its "foot on the gas" in its fight to drive down inflation after the latest U.S. consumer price index reading showed the economy remains red-hot.
The bitcoin price has dropped to around $27,000 per bitcoin, its lowest price since late 2020 while ethereum has crashed to under $1,500 per ether. Smaller cryptocurrencies are performing even worse, with BNBBNB -0.7%, solana, cardano, XRPXRP -1%, dogecoin, tron and avalanche all seeing double-digit percentage declines over the last 24 hours.
The latest bitcoin and crypto sell-off was sparked by fears the Federal Reserve could put its "foot on the gas" in its fight to drive down inflation after the latest U.S. consumer price index reading showed the economy remains red-hot.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.