Crypto: Bitcoin briefly lurches below key price at $40,000 for first time since September

January 10, 2022

Bitcoin extended its recent decline on Monday, with the most recent drop, dragging it below $40,000, a key support level, amid mounting concerns for a more hawkish Federal Reserve, as economists at Goldman Sachs now expect four interest-rate increases in 2022.

Bitcoin
BTCUSD,
-3.23%
is trading at as low as $39,678, the lowest level since September 2021.

Dow Jones Market Data

Meanwhile, Ether
ETHUSD,
-5.66%
fell below $3,000, trading at as low as $2,930, CoinDesk data shows.

Investors have been waiting for the U.S. consumer-price index data to be released on Wednesday, as a print above forecast may substantiate the Fed’s hawkish stance.

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