Bitcoin Prices Fall as Crypto Market Is Slammed by Hawkish Fed Expectations

Bitcoin and other cryptocurrencies dropped Monday as expectations that the Federal Reserve will move aggressively to tighten monetary policy continued to rock the digital asset space.

Bitcoin fell 3% over the past 24 hours to around $38,500, having moved below the key $40,000 level late on Friday. The price of the largest crypto was as high as $43,000 last Thursday before the slide began.