New Delhi: The world's largest digital token by market capitalisation witnessed a decline below $44,000 to its lowest level since the December flash crash.
It was trading nearly 7 per cent lower at $43,167.
According to a report by LiveMinit, Siddharth Menon, COO of WazirX said that the Bitcoin plunged to $43.5K level soon after the Federal Reserve re-confirmed plans to hike the interest rates.
''The crypto markets saw a huge selling volume during this period. The 4-hourly trend for BTC indicates a bottom breakout from the pattern. The next support for BTC is expected at $40,000," Menon was by LiveMint as saying.
Meanwhile, the Ether, the second-largest cryptocurrency, also witnessed a decline of more than 8 per cent at $3,494, while Dogecoin prices saw a fall of 6 per cent to $0.15.
On the other hand, Shiba Inu was too down over 7 per cent to $0.000030. Apart from these coins, Binance Coin also plunged nearly 7 per cent to $476.
Interestingly, Bitcoin's market share has been steadily declining and is now at its lowest level in years. The last time a significant drop in market share was seen was in 2018 when it fell to 33 per cent.
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