Bitcoin fell further after the U.S. stock selloff last week. This sent bitcoin into an uproar and caused the currency market to drop by around 10%

Bitcoin was the largest cryptocurrency by market value at 34,582.36, down more than 3% on Sunday. according to dataFrom Coin Metrics. As it tries to recover its highs in late 2021, Bitcoin trades within a very narrow range this year.

Bitcoin is currently down half of its peak value in November 2021 at $67,802.30

This is the result of the Dow Jones Industrial Average blue-chip lost more than 1,000 points on Thursday and the Nasdaq plunged by 5%. These were among the largest single-day losses since 2020. Again, Friday’s losses saw the Dow and Nasdaq fall.

The Federal Reserve will be open on Wednesday. raised its benchmark interest rateHalf a point when it reacts to inflation pressures

Stock markets rallied following the statement by Fed chair Jerome Powell that an additional rate increase of 75 basis points was not under consideration. Investors had erased Thursday’s Fed rally gains.

As of Sunday, there was a $1.68 trillion global cryptocurrency market. according to dataCoinGecko.com reports that cryptocurrency trading volumes in the last 24 hours were $119 billion

—CNBC’s Tanaya MacheelContributed reporting