Bitcoin plummets, the cryptocurrency market plunges into the red.

VTV.vn - Bitcoin fell nearly 4%, dragging down a series of major cryptocurrencies as US interest rate and inflation pressures increased.

On the evening of March 19th, the cryptocurrency market unexpectedly plummeted. Data from the OKX exchange showed that in 24 hours, Bitcoin fell nearly 4%, dropping to around $69,600. Many other major cryptocurrencies also declined: Ethereum lost nearly 4% to around $2,157; ​​XRP and Solana fell more than 1%, to $1.40 and $88.90 respectively; while BNB dropped more than 2% to $642.

According to Cointelegraph, Bitcoin at one point fell to around $69,500 – its historical peak in 2021 – before quickly recovering to above $70,000, indicating that support remains relatively strong despite pressure from macroeconomic factors.

The market's focus has shifted from geopolitical tensions to inflation in the US, following the Federal Reserve's decision to keep interest rates unchanged. Fed Chairman Jerome Powell noted that the economic outlook remains uncertain, particularly regarding the situation in the Middle East. He emphasized that interest rate cuts would depend on progress in controlling inflation; if inflation does not fall as expected, easing monetary policy may be delayed.

The market now only expects one more interest rate cut in 2026, putting pressure on risky assets. Prior to this, US stocks fell by about 1.5%, while gold prices also lost 2.3%, dropping below $4,700 per ounce – the lowest level since early February.

According to expert Michaël van de Poppe, most asset classes are under selling pressure, with the exception of oil. However, Bitcoin's correction was less severe than expected, showing better resilience compared to the overall market.

Bitcoin is currently fluctuating between its 2021 peak and 2025 low around $74,500. Some traders believe the cryptocurrency needs to hold its current support level and close the week above this key threshold to confirm a positive trend. Meanwhile, the area around $60,000 is considered an attractive price point to consider buying if the market continues to correct.

Source: https://vtv.vn/bitcoin-lao-doc-thi-truong-tien-so-chim-trong-sac-do-100260319210857323.htm