Bitcoin fell towards levels last seen in July 2021 amid anticipated lower appetite for risky assets among investors.
The coin dipped as much as 2.7% on Monday trading around $33,000 while Ether dipped as much as 4.6%.
Aggressive monetary tightening and slow in global economic growth investors are increasing paring risk assets. Stable coins such as TerraUSD and UDT which maintains one-to-one peg with dollar dipped below $1 over the weekend before quickly recovering.
“The downward trend is likely to continue for the next few days,” he said, adding Bitcoin could test the $30,000 level.