Bitcoin Price Drops 18%, Fed Discusses ‘Soft’ Inflation, Analyst Says BTC Sell-Off Attracts More Investors – Market Updates Bitcoin News

Digital asset markets are seeing some turbulence on Tuesday as the entire crypto market capitalization has lost 11% in value during the last 24 hours. Bitcoin has slid to a low of $44,846 during the morning trading sessions (EST) losing more than 18% during the last day.

Bitcoin Price Dips Over 18% and Quickly Regains Some of the Losses

Cryptocurrency proponents are watching markets closely after the price of bitcoin (BTC) started sliding early Sunday morning after coasting along at the $55k range. 12 hours prior the crypto asset had reached an all-time high at $58,354 per unit. Since then BTC touched a low of $44,846 on Tuesday and has been very volatile during the last 24 hours.

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors
Bitcoin (BTC) is currently swapping between $48,400 to $49,250 and is very volatile on Tuesday morning.

Today, BTC’s market valuation is under the $1 trillion mark it once held at $909 billion at the time of publication. There’s a whopping $47 billion in global BTC trades among the overall $177 billion in swaps across the entire crypto economy.

Bitcoin Price Drops 18%, Fed Discusses 'Soft' Inflation, Analyst Says BTC Sell-Off Attracts More Investors
The top five crypto positions on Feb. 23, 2021. BTC has been between $48,400 and even close to the $50k range on Tuesday morning (Eastern Standard).

The second-largest market cap is still held by ethereum (ETH) but ether is down 8% at the time of writing. Currently, ETH is swapping for $1,576 per coin and has a market valuation of around $180 billion.

Tether has regained the third-position in the top ten rankings, while binance coin (BNB) now holds the fourth spot. BNB is down 14% and trading for $227 per token. The fifth position is held by polkadot (DOT) which is down over 5% and swapping for $34 per unit.

‘Soft’ Inflation, Fed Could Scale Treasuries Purchases Fueling Bitcoin

Meanwhile, as crypto assets took a dive during the last 24 hours, stocks have slid as well while the Federal Reserve Chair Jerome Powell testified to Congress. Powell didn’t seem phased by the dreadful U.S. economic outlook…

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