Bitcoin Drops Below $40,000 For The First Time In A Month

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Bitcoin (BTC) plunged by 7% Monday amid fears of interest rate hikes due to the Federal Reserve’s tightening monetary policies. The digital asset trespassed the $40,000 support level and hit $39,785.68 according to data by Coin Metrics. Bitcoin’s PlungeAs reported by CNBC, this is the first time BTC drops to such levels since March 16, with the decline caused this time by the 10-year Treasury yield reaching a three-year high of 2.78% on Monday —the NASDAQ composite dropped 1% the same day. Q4 2021 hedge fund letters, conferences and more BTC trading has no correlation with the stock market, bu…

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