The price of crypto assets from the beginning of 2022 to the end of last week has corrected quite badly, where the price of crypto has saunters by almost 30% in the last three weeks or on a year-to-date (YTD) basis.
In Bitcoin, now the price is in the range of US $ 35,000, where on Sunday (23/1/2022) yesterday, the price was more than 3% saunters. Bitcoin corrected below the level of US $ 40,000 has occurred since last Friday.
Whereas in early November last year, Bitcoin had almost touched US$ 70,000/BTC. This means that it only took less than 2 months, the market cap of the most popular crypto has fallen by almost half.
Over the past week, the largest cryptocurrency has saunters 18%. As Bitcoin crashes, other giant cryptocurrencies have also corrected. Last week Ethereum saunters 27%, Binance Coin (BNB) drops 26%, Cardano drops 23%, Solana drops 35%, and XRP slips 22%.
Currently, one of the sentiments that makes the price of Bitcoin et al shattered is the movement of technology-based financial assets that are currently dropping amid the issue of monetary tightening that will be carried out by the United States (US) central bank, The Federal Reserve (The Fed).
Late last week, the Nasdaq Composite index which contains technology stocks also recorded a sharp correction of 2.72%.
Over the past week, the US technology stock index has dropped more than 5%. Technology stocks and advanced assets known as development stories are indeed very sensitive to monetary policy, especia