An increase in bitcoin offers against the background of an increase fed key rate and the regulator’s refusal to increase the policy tightening step was short-lived. The price of the first cryptocurrency has been updated minimum since the end of February 2022 and is currently approaching $36,500.

At the time of writing, the asset is trading around $36,900.

According to Coinglass, the drop has been accompanied by massive liquidations in the past four hours, exceeding $242 million.

The flagship has traditionally brought the rest of the market with it. According to CoinGecko, all assets in the top 10 by capitalization were in the red zone.

Santiment analysts call bitcoin price surge after meeting FOMC He noted that “abnormal” and the mood for the sale of assets among traders prevailed.

Arcane Research has previously warned that Bitcoin’s correlation with tech stocks has reached its highest level since July 2020. The current situation confirms this thesis.

The Nasdaq Composite index fell almost 5% after the opening of the trading session on the US stock market, while the S&P500 lost 3.5%.

Recall that Peter Brandt, the trader and chairman of Factor LLC, predicted that bitcoin will drop to $28,000 in May 2022.