Bitcoin (BTC) almost reached $39,000 last night. However, the crypto started to lose ground overnight, and now it is trading below $36,000, while its capitalization has fallen by 3.57% to $683.69B.
Almost all altcoins are also falling dragged down by the leading crypto.
Ether (ETH) and Binance Coin (BNB) have pulled back to $2,395 and $365, respectively. The capitalization of the crypto market has fallen to $1.63 trillion.
Some analysts believe we should not expect a radical change in trend. The market is currently controlled by the bears, and it will be very difficult for the bulls to push Bitcoin up in the face of increased demand for the US currency.
The dollar index has increased to 96.676 points after the Federal Reserve’s decision to keep the discount rate at the same level.
If the regulator raises the discount rate by the end of the first quarter, then investments in the US currency will continue to grow.