Bitcoin price rose above $22,000 on Tuesday, as expectations of a strong interest rate hike from the US Federal Reserve stoked sentiment in the volatile crypto market.
The most popular cryptocurrency surged as much as 6.8% to hit a peak of $22,954.36 per coin, the highest price since June 14, the day C Network lending halted withdrawals in the digital asset market.
However, Asia-Pacific stock markets mostly trailed the US lower, as fears of a shutdown in China eased concerns about interest rates.
Hong Kong’s Hang Seng Index fell 1.2% and China’s CSI 300 fell 0.7%. Japan’s Topix rose 0.8%.
Japanese investment bank Nomura said on Monday that as many as 41 Chinese cities are under full or partial lockdown or under control based on the county level.
A medical worker takes a swab sample in Shanghai © Hector Retamal / AFP / Getty Images
The restrictions cover 264 million people in regions that account for about 18.7% of the country’s economic activity, a decline from a week ago when only 31 cities were subject to restrictive measures. so.
U.S. stocks gave up early gains on Monday after reports of slowing spending by tech giant Apple raised fears of a potential recession.
The S&P 500, which was up 1% earlier in the day, fell 0.8%. The Nasdaq Composite also fell 0.8%.
Oil prices also fell on worries about China’s lockdown on Tuesday, with international benchmark Brent crude losing 0.2 percent to trade at $106.03 a barrel and West Texas Intermediate crude by The US fell 0.2 percent to $102.45.
