On Friday, August 22, Bitcoin continued its sharp decline observed throughout the current week – it fell by 0.9% to $112,943.4. This was reported by UNN with reference to investing.com.
Details
It is reported that the fall of Bitcoin is happening against the backdrop of decreasing bets on interest rate cuts.
It is also noted that recent Bitcoin declines occurred amid a general deterioration in risk appetite, as markets gradually lowered expectations for a Fed interest rate cut in September.
But not only Bitcoin lost value: other cryptocurrencies in the world also suffered losses this week. For example, Ether fell by 0.9% to $4277.18 and traded down 3.2% this week.
XRP fell by 2.2% and was set to lose 7.6% this week. Cardano and Solana both lost 2.5% and traded down more than 7% this week.
Among meme coins, Dogecoin fell by 2.8%, and $TRUMP by 4.6%.
Addition
10 days ago, on August 12, Bitcoin fell by 2.8% to $118,630.4. This happened in anticipation of key US consumer price index inflation data.