Cryptocurrency Bitcoin with a price drop below 40,000 US dollars, crash on the crypto market

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Bitcoin and Co came under considerable pressure on Friday

Photo: ARMEND NIMANI / AFP

According to calculations by banks and brokerage houses, the Dax will start lower on Friday at the end of the stock exchange week.

On Thursday it closed 0.7 percent higher at 15,912.3 points.

The US stock exchanges closed in the red after an initially friendly start.

Rising inflation and the central banks' reaction to it remain the dominant topic on the stock exchange floor.

Added to this is the fear of a Russian invasion of Ukraine.

The forthcoming economic data promise some variety.

European consumer confidence barometer and US leading indicators will be released later today.

Experts expect the former to worsen to minus nine points in January.

For the latter, they predict an increase of 0.8 percent after a plus of 1.1 percent in the previous month.

Regardless, options on indices and individual stocks expire.

On this date, share prices usually fluctuate strongly because investors want to move the prices of the securities on which they hold derivatives in a direction that is favorable to them.

Bitcoin falls more than 7 percent

Wall Street's recent price falls are making investors nervous.

They are therefore also withdrawing from other risky asset classes such as cryptocurrencies on Friday.

Bitcoin and Ethereum fell 7.4 percent to $38,267 and 8.8 percent to $2,810 respectively.

After China, Russia is now considering banning cryptocurrencies.

Bitcoin, meanwhile, is trading at its lowest level in 4 months, down almost 50 percent since its early November high of $68,000.

Asia's stock markets under pressure

The recovery attempt of the stock markets in Asia was short-lived.

Negative guidance from Wall Street weighed on prices on Friday.

After an initial price recovery, the US stock market fell back significantly in the course of trading.

The background is the persistently high level of inflation and the associated expectation of a much more restrictive monetary policy from the US Federal Reserve.

At the Fed meeting in March, some market participants are now even expecting a step of half a percentage point for the first increase in the key interest rate.

Oil prices are slipping

The recent surge in oil prices was hit hard on Friday.

In early trading, the two most important types of crude oil, Brent and WTI, fell significantly.

A barrel (159 liters) of North Sea Brent cost $86.88 in the morning.

That was $1.50 less than the day before.

The price of a barrel of West Texas Intermediate (WTI) fell $1.66 to $83.89.

The gloomy mood on the stock markets put pressure on oil prices.

Crude oil is considered a risky asset class that is often hurt by falling stock prices.

Observers also referred to US inventory data from the previous day.

The US Department of Energy had reported a significant increase in national oil reserves.

Despite the discount, oil prices remain within reach of multi-year highs set this week.

A tight supply coupled with solid demand provide a boost.

The current corona wave appears to be having less of an impact on oil demand than previous waves, as the omicron variant often causes less severe symptoms and the economic impact has so far been less severe.

With news agencies