Cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) are reaching their lowest value in months. This event comes after a wave of concern over a possible US recession.

Earlier in the year, the cryptocurrency market had a favorable year following the approval of an exchange-traded fund (ETF) for tracking the spot prices of Bitcoin and Ether by the US Securities and Exchange Commission (SEC).

However, recent events have seen Bitcoin and other assets, including global stocks, take a hit as investors fear a possible US recession. Bitcoin's value has dropped by 24% in just one week.

In March 2024, Bitcoin had a value of $73,079 and Ethereum (ETH) $4,066. The cryptocurrencies are now around $53,032 and $2,361.