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Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

Bitcoin falls to lowest since July 2021

  • By Al Mayadeen net
  • Source: Agencies
  • 10 May 2022 09:46
2 Min Read

Bitcoin fell as low as $29,764 on Tuesday.

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  • Bitcoin falls to lowest since July 2021
    Bitcoin falls to lowest since July 2021

On Tuesday, Bitcoin fell below $30,000 for the first price since July 2021, as cryptocurrencies tracked falling markets, with investors alarmed by aggressive US monetary tightening and increasing inflation.

The world's largest cryptocurrency by market capitalization plummeted as low as $29,764 in Tuesday trade before recovering above $30,000, continuing a recent price decline as investors flee riskier assets.

Since a November rise that saw the token reach a high of roughly $69,000, Bitcoin's value has more than halved.

While cryptocurrency fans see bitcoin as a hedge against inflation, many traditional investors see it as a riskier asset.

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Bitcoin falls over 5% to $81K after US tariff announcement

They have been selling bitcoin and other digital tokens, as well as other risky assets such as tech stocks, as the US Federal Reserve raises interest rates to combat decades of excessive inflation.

Edward Moya, senior market analyst for the Americas at Oanda, says Bitcoin is "breaking below some key technical levels as the never-ending selloff on Wall Street continues," adding that "the institutional investor is paying close attention to bitcoin as many who got in last year are now losing money on their investment."

According to Moya, although the fundamentals of the token have not changed in months, worries of growth and a possible recession are creating "a very difficult environment for cryptos."

"No one is looking to buy the crypto dip just yet and that leaves bitcoin vulnerable here."

The crypto drop mirrors falls in US stocks and other markets, with the tech-heavy Nasdaq down 4.3% on Monday, the S&P 500 down 3.2%, and the Dow down 2.0%.

  • Bitcoin
  • Cryptocurrency
  • NFT

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