Bitcoin Price Dips Back Below $19000 as Risk-Off Sentiment Worsens
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Cryptocurrencies fell Tuesday, dragging down Bitcoin in line with US stocks as investors.
Cryptocurrencies fell Tuesday, dragging down Bitcoin in line with US stocks as investors prepare for expected rate hikes from the Federal Reserve this week. The largest digital token sank as much as 4% to $18,740. The coin on Monday fell to $18,273, its lowest value since prices tumbled after the collapse of crypto lender Celsius in June. Also on Tuesday, Ether slid as much as 2% to $1,330. Coins like Cardano and Avalanche fell even more. The drop aligns with a selloff in US stocks, which cryptocurrencies have been moving in tandem with all year. A 60-day correlation coefficient for Bitcoin and contracts on the S&P 500 grew t...