Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020 By Cointelegraph

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Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020

Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and (BTC) price plummeted to $35,571 on Binance.

The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation.

BTC/USDT 1-day chart. Source: TradingView
BTC/USDT 1-hour chart. Source: Twitter (NYSE:)
1-month chart. Source: Twitter
Bitcoin large wallet inflows. Source: Twitter