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Bitcoin dips below $ 24,000 as concerns about crypto company Celsius cause sales

Bitcoin

Rising US interest rates and increased regulation have put cryptocurrencies under pressure in recent months.

(Photo: dpa)

Dusseldorf After a month of hiatus, the sell-off in the cryptocurrency market is picking up strength. The oldest and most important cyber currency Bitcoin plunged below $ 23,500 on Monday. This is a 17% discount from the daily highs on Sunday and the lowest price since Christmas 2020.

“There is a selling atmosphere in the market,” reports cryptocurrency analyst Timo Emden of the analyst firm of the same name. “Bitcoin’s $ 20,000 psychological mark is shaking like never before. If the aforementioned brand is permanently undercut, stockbrokers could finally switch to panic mode. “

The cryptocurrency market is currently under pressure from two sides. Driven by the prospect of sharply rising US interest rates and uncertain global economic forecasts, investors are in a risk-off mode: they are reducing their risk. Asset classes that are particularly susceptible to fluctuations, such as cryptocurrencies, are sold in this context, mainly because they do not generate any interest.

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