Bitcoin (BTC) Drops Below Key Technical Mark as Interest Rate Concerns Mount

Bitcoin briefly dropped below $42,000 for the first time since March 23, sliding back further into the range in which it has traded this year on mounting concerns about rising interest rates. 

The largest cryptocurrency fell as low as $41,918 on Monday morning in Asia, retreating for the seventh day in the past eight. Since peaking at just above $48,000 in late March, Bitcoin — and other tokens — have been dragged lower by concerns about tighter monetary policy. Even the buzz around last week’s Bitcoin 2022 conference in Miami wasn’t enough to reverse the trend. 


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