Bitcoin CRASH wipes billions off crypto market after Federal Reserve news
BITCOIN'S value went down by almost 9% today and other cryptocurrencies crashed.
The crypto market was said to be a sea of red this morning.
The crash happened after the Federal Reserve released "hawkish" minutes.
Bankers are sometimes referred to as "hawkish" if they announce tightening monetary policy.
The minutes stated that the Fed would be cutting back support for the US economy, which is bad news for riskier assets like crypto.
The crash has also been linked to the US stock market falling, which has been linked to concerns that interest rates are about to rise.
Bitcoin, the world's biggest cryptocurrency, was down 8.6% over the 24 hours to 4.50 a.m. ET.
That's a big drop for the popular currency.
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Ethereum is the second biggest cryptocurrency and that's down 12%.
Solana coin has dropped 13%.
Bitcoin is now at its lowest level since its December flash crash.
Bitcoin was trading at $69,000 back in November but today it hit a low of $42,579.93.
After the December crash Bitcoin was trading around $50,000.
The value of Bitcoin has fluctuated wilding since its launch in 2009.
In other news, Mercedes-Benz has finally revealed its Vision EQXX electric car.
It's time to say goodbye to BlackBerry phones as the company has pulled the plug on its once extremely popular handsets.
And, an urgent Android warning has gone out to millions of users after malicious apps were detected in the Samsung app store.
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