Bitcoin, the king of digital currencies, has just dropped to its lowest level in a year and a half. At the time of writing, Bitcoin is trading around $25,344.41. Earlier, prices fell to $24,903.49, a level not seen since December 2020.

The digital currency has lost more than 62.9% of its value since its all-time high set last November at $69,044.77.

Overall, the cryptocurrency market has lost $2 trillion since November and now has a market value of $1.07 trillion, up from $3 trillion just eight months ago.

Investors fear that the Federal Reserve (Fed) will be more aggressive in its monetary policy. In other words, they are worried that the central bank will raise rates sharply to fight inflation, which is at its highest level in 40 years.

A gallon of gasoline at a gas station passed the symbolic threshold of $5 at the end of the week on the national average.