Bitcoin, the world's most popular cryptocurrency, fell below $77,000 on Asian markets on May 18. Experts attribute this to expectations that interest rates in the United States will remain high and increased tension in world markets.
The fact that the yield on US government bonds has reached its maximum in recent years is driving investors away from riskier assets, including cryptocurrencies. The vast majority of traders on the Polymarket platform believe that the US Federal Reserve will not cut interest rates in the summer.
According to research, about 60 percent of bitcoins in circulation have been inactive for more than a year. This indicates that long-term investors are in no hurry to sell. At the same time, bitcoin reserves on exchanges have fallen to their lowest level in six years.
However, most investors who recently bought bitcoin are currently at a loss. Analysts believe that if global economic pressures continue, a new wave of selling may occur in the market.
