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The new week started with a sharp weakening of the bitcoin (BTC) rate. The largest digital currency fell to $ 20,934 during the Asian session. The capitalization of bitcoin for the week decreased by almost 13% to $ 401.248 billion.
Other cryptocurrencies are also retreating under pressure from sellers who have stepped up in the technology sector. Ether (ETH) and Binance Coin (BNB) fell by 2% to $ 1535 and $ 289, respectively.
Cardano (ADA), Solana (SOL), Dogecoin (DOGE) and Polkadot (DOT) rolled back to $0.44, $33.92, $0.0656 and $7.03. The capitalization of the crypto market on Monday, August 22, again fell below $ 1 trillion. The value of all digital currencies is now just over $996.665 billion.
BitBull Capital CEO Joe DiPasquale believes that bitcoin sal suffers large losses after it failed to break resistance in the region of $ 25,000. In addition, macroeconomic factors had a negative impact on its rate, primarily the acceleration of inflation in developed countries.
Markets are waiting for Friday’s speech by Fed Chairman Jerome Powell in Kansas City. If it contains hawkish rhetoric, it is unlikely that the attractiveness of risky assets will increase.
Most likely, the correction in the cryptosphere will continue in the coming days, and bitcoin and ether may fall below $ 20,000 and $ 1300.
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