Cryptocurrencies and global stocks fell sharply on Monday as investors expect the Federal Reserve to implement sharper rate hikes at its June meeting after US inflation hit 8.6% in May.
The cryptocurrency market has recorded severe declines several days in a row and was down 11.6% over 24 hours as of 4.40pm on Monday.
The global market value stood at US$1.02 trillion, down 70% from its November 2021 peak of around $2.9 trillion.
According to Coingecko.com, the Bitcoin price broke past the key support level at $24,516.41 as of 3.54pm on Monday, down 11.2% from the previous day and 64.5% from last…
