Bitcoin continued its decline over the weekend; Declined below $34,000 on Late Sunday


Bitcoin continued to decline after a broader stock sell-off in the USA last week sent the crypto market into a fury and caused bitcoin to slide by roughly 10%.

Bitcoin’s value was lower by around 3% at $33,438.03 on late Sunday, as per the data from Coin Metrics.

The cryptocurrency is now 50% down from its high price of $67,802 in November 2021.

The decline comes after the Dow Jones lost higher than 1,000 points on Thursday and the Nasdaq plummeted by 5%. These losses recorded the worst one-day drops since 2020 and the decline continued Friday.

Meanwhile, the central bank on Wednesday has raised its benchmark rate by 50-basis points to respond to inflation pressures.

The global cryptocurrency market was at a $1.68 trillion cap on Sunday.