Bitcoin fell over 7%, dropping below $30,000 once again and hitting a weekly low. Today the rate is about $29,500, while the day before it was above $31,000. Cryptocurrencies are getting cheaper this year: their combined market capitalization has fallen to about $1.2 trillion from $3 trillion in November 2021, writes Barron’s. Bitcoin’s depreciation comes as US Treasury yields rise above 3%, to a monthly high, raising concerns that rising borrowing costs could lead to a recession in the US economy. In addition to declining market prices, cryptocurrencies are also facing increased scrutiny from regulators. The US Senate may soon introduce a bill that provides for a significant overhaul of the market control procedure. Source: FINMARKET.RU

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