Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020
Cointelegraph
Published May 05, 2022 04:36PM ET
Updated May 06, 2022 03:00AM ET
Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance.
The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation.
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.