Bitcoin Hits 6-Month Lows As Stock Markets Tumble – January 24

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $35,362

Bitcoin price has dropped another several thousand dollars over the weekend, alongside a bloodbath in several other markets.

Top-20 altcoins have mostly performed worse than Bitcoin, as Ethereum and BNB fall 5% and Solana tumbles 11% over the last 24 hours.

Top Stories for January 24, 2022 πŸ”₯

πŸ‘‰ Bitcoin Hits 6-Month Lows As Stock Markets Tumble

Bitcoin has reached its lowest price since July 2021, following a market-wide plunge that has affected stocks and more.

Concerns about the Fed hiking interest rates and reducing its balance sheet appears to have contributed to an exodus from risky assets, including cryptocurrencies and tech stocks.

The upcoming Federal Open Market Committee (FOMC) meeting this week may have a significant short-term impact on the market, with some expecting turbulence in the lead-up to the meeting.

πŸ‘‰ JP Morgan Chase Closes Uniswap Founder’s Bank Account

JP Morgan has shut down the bank accounts of Hayden Adams, the CEO and founder of the number-one decentralized exchange, Uniswap.

According to Adams, the accounts were closed with no explanation – something he also claims has happened to “many individuals and companies” working in the cryptocurrency industry.

πŸ‘‰ BoA Analysts Believe US CBDC Would Preserve Dollar’s Reserve Currency Status

Analysts from the Bank of America believe that a shift to a US central bank digital currency (CBDC) would assist in preserving the dollar’s status as a world reserve currency, according to a recent report.

The report claims that a US CBDC would improve cross-border payments, increase financial inclusion and have no credit or liquidity risk, thanks to being a liability of the Federal Reserve.