Home » Markets » Bitcoin plunges below $24K as headwinds mount
Bitcoin plunges below $24K as headwinds mount
Stocks fall as inflation, rate hike worries mount
FOX Business’ Stuart Varney and Susan Li discusses the top market stories as trading begins.
Bitcoin briefly slipped to a new 52-week low of $22,611.05 per coin on Monday, before bouncing higher, as some investors ditch crypto amid recent market volatility.
As of the time of publication, the world's largest cryptocurrency is trading around the $23,000 per coin mark, while Ethereum and Dogecoin have each fallen about 16% to just above $1,200 and 5 cents per coin, respectively.
Bitcoin and other cryptocurrencies have struggled in sympathy with the broader stock market, which is contending with scorching-hot inflation. The Federal Reserve, which has already begun hiking interest rates to bring inflation down, will offer an update on its outlook for the economy this week following its two-day policy-setting meeting.