{"id":52204,"date":"2022-09-07T11:15:50","date_gmt":"2022-09-07T09:15:50","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=52204"},"modified":"2022-09-07T11:15:50","modified_gmt":"2022-09-07T09:15:50","slug":"bitcoin-slides-below-19k-amid-feds-monetary-policy","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-slides-below-19k-amid-feds-monetary-policy\/","title":{"rendered":"Bitcoin Slides Below $19K Amid FED’s Monetary Policy"},"content":{"rendered":"
The price of Bitcoin has fallen below $19,000 for the first time in two months<\/strong>. It is inching closer to the lowest price level of this year. After the Bellatrix upgrade<\/a><\/strong> of the Ethereum network, the price of Bitcoin, Ethereum, and other altcoins took a hit<\/strong>. The leading digital token is now considerably lower than last year’s high of around $69,000.<\/span><\/p>\n <\/p>\n The<\/span> global<\/a><\/strong> crypto market cap saw a 5.81% decrease over the last day<\/strong>, as it is now almost $940 billion. At the time of writing, Bitcoin\u2019s value is hovering around $18,800<\/strong>. It is down by almost 6% in the last 24 hours. The market cap of BTC has fallen below $360 billion. Bitcoin is finding it more difficult to regain the $19K level, as the DXY Index has gone over $100<\/strong>. There is a high possibility that this DXY Index will continue to rise in the coming days.<\/span><\/p>\n There are a number of reasons for Bitcoin\u2019s underperformance lately. The asset\u2019s bearish trend is closely correlated with the performance of the US stock market<\/strong>. Stocks were highly volatile over the past couple of days, and this also had a toll on the value of BTC.<\/span><\/p>\n On the other hand, there is constant pressure that the Federal Reserve will increase interest rates to counter four-decade high inflation<\/strong>. Due to these fears, investors are pulling out of riskier assets, including stocks, Bitcoin, and other cryptocurrencies. It is expected that the FED will increase interest rates by the end of September<\/strong>.<\/span><\/p>\n <\/p>\nFactors Leading to a Major Sell-Off in Bitcoin<\/span><\/h2>\n