Bitcoin drops by most in almost a month as Fed optimism fades | News
The price of Bitcoin , Ether , and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and piercing the $40,000 mark at one point in its biggest one-day jump since early March. The leading crypto has been trading in a range around $40,000 for much of this year, remaining well off its record high of $68,990 reached in November 2021. It is now changing hands at the lowest level since late January. Ether, the second-largest digital asset, dropped 4% to around $2,750. The token underpinning the Ethereum blockchain network had gained 6% to nearly $3,000 at the peak of Wednesday trading—its best daily performance since February. Smaller cryptos, or “altcoins,” also felt the pain. Solana lost 3%, Cardano dropped 4%, and Avalanche retreated 5%. “Memecoins”—called that because they were initially intended as