Crypto Markets Erased $300B in Days, Bitcoin Dipped to $20.8K
Bitcoin kept plunging in the past 24 hours to a new multi-year low of under $21,000. Most of the altcoins followed suit with massive price losses. ETH is among the leaders in this adverse trend as it dipped below $1,100.
It’s safe to say that the bears have complete control over the market. Just a week ago, BTC challenged $32,000 on a few occasions but to no avail. The subsequent rejections brought the cryptocurrency south to around $30,000.The record-setting inflation numbers from the US pushed it down to $29,000 on Friday before the situation took another turn for the worse during the weekend and on Monday. At first, BTC dumped to $27,000 before slipping to $25,000. Yesterday, though, bitcoin lost another sizeable chunk of value and dumped to just under $21,000, resulting in over $1 billion in liquidations.
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