All cryptocurrencies collapsed amid record inflation in the US: Bitcoin costs less than $25,000 for the first time since 2020

The rates of all major cryptocurrencies collapsed amid high inflation in the United States.

What is known

The day before during the auction course Ethereum fell to $1436. The situation worsened over the course of the day. At the time of writing, the cost ETH is less than $1250. In 24 hours, the price of the crypto asset fell by almost 16%, and in a week the currency fell by more than a third (35%).

bitcoin also does not lag behind. The first, and at the same time the most expensive and most popular cryptocurrency is already worth less than $24,364. The asset was last traded at a level below $25 000 in December 2020. Capitalization decreased to $462.6 billion. Over the past day, the asset has fallen in price by 11.7%, and over the week - by 22.5%.

The reason for everything, according to information Bloomberg, are new statements from the US Federal Bureau of Labor Statistics. According to the agency, the consumer price index in May 2022 compared to May 2021 increased by 8.6%. This is the worst figure since 1981.

Source: Forbes, Bloomberg, Coinmarketcap