Bitcoin declined for an eighth consecutive session on Tuesday, as the crash in crypto markets continued. BTC fell to the $20,000 range for the first time since December 2020, whilst ETH hit $1,000, also recording a multi-year low.
BTC was trading lower for an eighth consecutive day, with Monday’s decline sending prices to their lowest point since December 2020.
The world’s largest crypto token fell to an intraday low of $20,950.82 in today’s session, following yesterday’s low of $23,607.69.
This latest decline comes as traders prepare for tomorrow’s FOMC meeting, where some expect the Federal Reserve to increase interest rates.
As U.S. inflation continues to peak, many now see it as a necessity for the Fed to make more policy changes, in order to