Bitcoin, Ether down over 4% amid hints of new losses

Tuesday, 05. July 2022 15:27

The prices of the world's most popular cryptocurrencies declined more than 4% on Tuesday amid estimates the market could see further losses in the third quarter of the year.

Bitcoin plunged over 50% in the past trimester, while Ethereum registered a loss of nearly 70%. However, low trading volumes and open interest hint the market could be hit with another sell-off amid soaring inflation worldwide and an increased pace of interest rate hikes by central banks in the United States and the European Union.

Bitcoin declined 4.31% to $19,360 at 9:26 am ET, while Ethereum sank 5.13% to $1,091 at the same time.

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Author:
Baha Breaking News (BBN) / ND