Rising interest rates have affected Bitcoin trading volumes. A funny thing happened to Bitcoin as interest rates started to rise: trading volumes went way down. Over the last month, the aggregate daily volume on those venues has averaged just over $1 billion (about R14.67 billion). With rates rising and the cost of money no longer hovering around zero, crypto prices have flagged, prompting investors to recalculate their desires to be invested in the cutting-edge market. Ultimately, Bitcoin is a risk asset and will behave the way other risk assets do, he said.

Source: News 24 April 18, 2022 23:23 UTC