The value of Bitcoin (BTC) fell below $ 40,000 after Goldman Sachs announced that he expects the Fed to raise interest rates at a higher rate than previously announced.
According to Bloomberg Terminal, Goldman Sachs expects the Fed to raise interest rates four times this year, not three.
As it will be remembered, the Fed recently announced the minutes of the meeting and these minutes revealed that interest rates could increase in March.
Bitcoin was not the only asset that fell after this news. The tech-focused Nasdaq Composite index, which is closely associated with the leading crypto, also fell.
Bitcoin RSI Drops
The Bitcoin Fear and Greed Index is also at the “extreme fear” level.
One day ago, Bitcoin RSI (relative strength index) fell below 30 for the first time since May, and Bitcoin sales increased.
At the time of writing, Bitcoin is trading at $40,837 on the Binance exchange.