Wall Street

Bitcoin and other cryptocurrencies plummet over interest policy fears

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The price of Bitcoin and other cryptocurrencies continues to plummet due to investor fears about US interest rate policy. One Bitcoin cost $27,464 on the Bitstamp trading platform on Sunday afternoon, down 3% compared to the previous day. Bitcoin has already dropped 9% since the publication of US inflation data on Friday. Its price is sliding closer to its lowest level since the end of 2020, when it reached $25,400 in mid-May. Ethereum, the second-largest digital currency, has also come under pressure over the past few days. The high inflation rate in the US unexpectedly rose further in May, s…

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