The crypto markets are feeling the effects of inflation, with the Fed set to increase interest rates multiple times in the year.

Both and, crypto market leaders in crypto, are suffering as more than $170 Billion has been taken from the crypto market.

Bitcoin and Ethereum are hard to find

Bitcoin, the world’s largest crypto, has dropped by more than 8% 0ver the last 24 hours. Bitcoin trades currently at $38,856 (as of the writing), after falling to $38,560.

This is the 24 hour Bitcoin price chart. Source: Tradingview

In the last month, Bitcoin’s value has fallen by 20%. Bitcoin’s price dropped by 20%, causing it to crash to an all-time low of $736 billion in five months. Bitcoin’s market cap now stands at $736 billion as of this writing.

Ethereum is feeling the same weight as Bitcoin, but more so in the past 24 hours. Ethereum’s price has dropped by over 9% due to the above-mentioned market crashes. After testing a low of $2827 for 90 days, Ether now trades at $2864.

Here is the Ethereum 24 Hour Price Chart. Source: Tradingview

According to reports, all funds of 185,450 cryptocurrency investors were lost due to the crash. The cryptocurrency trader has lost $715 million in just 24 hours.

With Wall Street’s losses reports, Bitcoin and Ethereum also fell. In addition, Nasdaq reports a 5% drop this week, and the S&P 500 heads into its third straight week of losses.

The Flipside

• Analysts have predicted that an eventual breakout is imminent in the wake of Bitcoin’s drop to $38k.

What You Need to Care About

Coincidentally, the fall of tech stocks has meant that cryptocurrencies don’t exist as a bubble.

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