A decline in major assets has been observed in the cryptocurrency market over the last 24 hours.
“Elchi” reports that according to the “CoinMarketCap” platform, Bitcoin has decreased by 1.59% over the last 24 hours, falling to $77,459.47.
Ethereum fell by 2.50% to $2,411.26, and BNB dropped by 0.90% to $687.23. Zcash retreated by 2.32% to $837.14, Monero decreased by 0.59% to $513.94, and Bittensor fell by 4.55% to $220.05.
A sharp decline was also recorded in gold-backed cryptocurrencies. PAX Gold (PAXG) decreased by 2.83% over the last 24 hours to $4,312.87, while Tether Gold (XAUT) fell by 2.88% to $4,303.51.
The CoinMarketCap 20 index decreased by 1.60% over the last 24 hours, reaching 158.58 points.
The decline in the cryptocurrency market is mainly influenced by expectations that interest rates in the US may remain high for a longer period, and the resulting weakening demand for risky assets. At the same time, profit-taking by investors after strong price increases in recent weeks is also increasing selling pressure on cryptocurrencies.