Bitcoin sees below $ 21,000: The decline in cryptocurrencies continues

While the risk of recession is being priced in global markets, it seems that the Fed has taken control. This week, the downward trend in crypto markets continues with full force before the US Fed's interest rate announcement. Bitcoin fell to $ 20,800 in the first hours of the day. While inflation continues to be on the agenda of the whole world, the rise in risky markets negatively affects stock markets in global markets and causes sharp rises in cryptocurrency markets. The Fed, which is the source of reserve money, said that it could increase by 75 basis points tomorrow, causing the markets to price more sharply. The cryptocurrency market value, which fell below $ 1 trillion yesterday, is now $ 950 billion. In addition to external factors, the freezing of all transactions of the crypto credit company Celsius, one of the major players in the cryptocurrency industry, made an additional contribution to the collapse, along with the Fed's aggressive tightening policy. Bitcoin, after losing 15 percent in one day yesterday, closed the day at $ 22,400, and returned to the $ 22,000 band after testing below $ 21,000 earlier today. The difference in this downward cycle was Bitcoin's negative divergence from the largest altcoins in the last 24 hours. Bitcoin is the cryptocurrency that lost the most value in the top 10 When the top 10 cryptocurrency table is checked, it is seen that Bitcoin is currently the cryptocurrency that lost the most with a decrease of 11 percent in the last 24 hours. Following Bitcoin, Ethereum (ETH), after falling to $ 1075 in the first hours of the day, recovered somewhat and returned to the $ 1,200 band. Unlike the two largest cryptocurrencies in the top 10, Cardano (ADA) and Solana (SOL) saw positive divergence in the last 24 hours, increasing in value by 5 percent and 9.5 percent, respectively. In addition, the average trading volume in crypto markets has reached $ 160 billion, reaching its highest level in recent times. Among the top 100 cryptocurrencies, Gala (GALA), Bitcoin SV (BSV) and Fantom (FTM) attract attention in the declining market with value increases of up to 20 percent.