BITCOIN is down almost 9% and other cryptocurrencies have crashed.
The crypto market was said to be a sea of red this morning.
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The crash happened after the Federal Reserve released “hawkish” minutes.
The minutes stated that the Fed would be cutting back support for the economy, which is bad news for riskier assets like crypto.
Bitcoin, the world’s biggest cryptocurrency, was down 8.6% over the 24 hours to 4.50 a.m. ET.
That’s a big drop for the popular currency.
Ethereum is the second biggest cryptocurrency and that’s down 12%.
Solana coin has dropped 13%.
Bitcoin is now at its lowest level since its December flash crash.
Bitcoin was trading at $69,000 back in November but today it hit a low of $42,579.93.
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