Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020 -Breaking
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Bitcoin plunges to $35.5K in the wake of a 1000 point Dow correction. It is now the worst trading day since 2020The global financial market plunged into chaos on May 5, as Dow Jones experienced a 1,063-point drop(BTCThe price of a ) fell to $35,571 at Binance.
The reason for widespread weakness in the market is that traders had more time digesting the Federal Reserve’s latest half-point increase in the interest rate, the most significant since 2000. This was to reduce record high inflation.
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