Bitcoin's price hits 1-month low as US stock prices fall

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Bitcoin's price fell to a one-month low on Wednesday amid a broader decline across stock markets.

The macro picture was a cloudy one as US stock markets closed Wednesday. The Federal Reserve, in newly-published minutes, indicated that it may raise interest rates sooner than previously expected, as noted by Bloomberg. At the same time, the Fed floated the potential for a balance-sheet reduction in the wake of such moves. 

According to data from TradingView, bitcoin's price hit a low of $43,879 on Coinbase

Source: TradingView

Today's price decline represents the lowest figure since December 4, when the price of bitcoin fell to $42,333 on Coinbase, as shown in the chart above. Bitcoin's all-time price high occurred on November 9, reaching the $69,000 mark on Coinbase.

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May 5, 2022, 3:17PM UTC
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