Bitcoin recorded losses of more than 5% during the last 24 hours of trading.

Cryptocurrencies have been struggling since the Federal Reserve announced an interest rate hike on the dollar, which prompted many investors to withdraw their funds from "Bitcoin" and inject them into the dollar to benefit from the high interest rate, especially amid expectations of continued market losses due to the ongoing Russian-Ukrainian war and its impact on all levels.

On the trading front, during the past 24 hours, the total market capitalization of cryptocurrencies dropped by 4.6%, causing the market to lose about $59 billion, after the total market capitalization declined from $1280.2 billion in Monday's trading to about $1221.2 billion in Tuesday morning trading.

The statistics for the losing cryptocurrencies were as follows:

1- "Bitcoin" recorded a decline of 5.7%

2- "Ethereum" recorded a decline of 7%

3- "Tether" ranked third among the largest cryptocurrencies by market capitalization, at the level of one dollar, with the total market capitalization stabilizing at $72.37 billion.

4- "USD" ranked fourth, at the level of 1 dollar, while its total market value stabilized at $53.7 billion.

5- "BNB" ranked fifth among the largest cryptocurrencies by market capitalization, with the currency recording losses in the past hours by 8.4%, compared to a weekly decline of 11%, settling at $284.12 in today's trading.