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Fears of global inflation echo for investors in cryptocurrencies. Wall Street is already suffering, and analysts say the momentum to buy is over.
Bitcoin, the world’s largest cryptocurrency in market value, fell more than 5% in a single day this Friday, to $ 79,666 (76,634 euros). This is the first time it has been under $ 80,000 since November 11th. In December, it had exceeded $ 105,000.
“Bitcoin’s fall for less than $ 80,000 shows that the positive feelings of a favorable cryptocurrency administration and High level funds have run out“, Explains to expert Joshua Chu.
“The impetus ended when there was no new news to continue boosting the narrative,” says analyst Kyle Rodda.
Also Ethereumthe second largest cryptocurrency in market value fell almost 6% to $ 2,149.38 (2,067.58 euros), the lowest value since January 2024.
According to experts, the fears of global inflation higher and slower growth occur due to Donald Trump’s promises to impose tariffs that can reach 25% on imports.
The unstable economic climate immediately reached the Wall Street bag, which this Thursday ended in the red zone in several rates. According to AP, the S&P 500 fell 94.49 points, or 1.6%, to 5,861.57 and the compound index Nasdaq fell 530.84 points, or 2.8%, to 18,544.42.
However, for cryptocurrencies, there was yet another factor at stake: um case of theft.
Bybit, the second largest bag in the world after Binance, which hackers had stolen Ethereum about $ 1.5 billion, or 1.44 billion euros.
Bybit has over 60 million users worldwide and offers access to various cryptocurrencies, including Bitcoin and Ethereum. The episode therefore generated insecurity in investors.
“It’s a Combination of macro forces. The Fed (the Central Banking System of the United States), only plans a rate of fees, more tariffs, uncertainties around geopolitics and warand Bybit’s hack has not helped trust either, ”explains Reuben Conceição, strategy director of the Metasig digital portfolio company. “It’s hard for people to get excited and pump the BTC when there are bigger questions at stake.”
