The bitcoin exchange rate is falling sharply on Monday amid a global sell-off in risky assets.
Bitcoin fell by 10.8% to $52,827 thousand by 12:25 Kyiv time, according to CoinDesk. Over the past five sessions, the cryptocurrency has lost more than 21% of its value, although it has added almost 26% since the beginning of the year.
The Ether exchange rate fell by 15.3% to $2,330. This is a record drop since 2021.
The Japanese stock index fell by 12.4% on Monday, the fastest pace since October 1987, and futures on the US stock index Nasdaq Composite are down 4.2%.
The collapse of risky assets is caused by growing fears of a recession in the United States after weak statistics released last week. Goldman Sachs analysts now believe that the probability of a recession in the US economy in the next year is 25% instead of the previously expected 15%, and markets see a 60% chance that the Federal Reserve will hold an extraordinary meeting this week and cut its key interest rate by 25 basis points.
“The market is in a panic mode,” said Grace Chen, head of the Bitget cryptocurrency exchange.
