Bitcoin Drops Below $20k


Bitcoin (BTC) sank below $20,000 for the first time since December 2020, losing 9.5% in the past 24 hours. At time of publication, the largest cryptocurrency by market cap was changing hands around $18,984.1 after trading at a low of $18,739.50.

Ether (ETH), the second largest crypto, also continued its decline, falling 9.78% to about $992 at time of publication.




The crypto panic – which began a few weeks ago with the Terra ecosystem collapse and then spread to the Celsius platform – has moved on to hedge fund Three Arrow Capital, which reportedly had its collateral liquidated by crypto lender BlockFi.Bitcoin Drops Below $20k

Checking traditional markets, U.S. stocks saw more massive selling on Thursday, with the Nasdaq tumbling 4.1% and the S&P 500 3.25% before a slight recovery on Friday. For the week, the Nasdaq and S&P are each lower by about 6%.



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