Bitcoin down 70% from all-time high. Why is crypto market crashing? - BitcoinEthereumNews.com
Bitcoin cryptoBumaba ng 70% ang Bitcoin mula sa mataas na panahon. Bakit bumagsak ang crypto market?06 / 14 / 2022Balita ng Ethereum ng Bitcoin Cryptocurrencies have been crashing. Bitcoin BTCUSD,n -3.21%n plunged to as low as $20,834 late Monday, the lowest level since December 2020 and down about 70% from its all-time high in November. The No.1 cryptocurrency is trading at around $22,389 Tuesday, down 5% over the past 24 hours, according to CoinDesk data. Etern ETHUSD,n -1.38%n plummeted to as low as $1,075, down 78% from its all-time high. The mayhem comes amid a broad selloffs of risk assets. On Monday, the Dow Jones Industrial Averagen DJIA,n -0.60%n fell almost 900 points, while the S&P 500 indexn SPX,n -0.42%n entered a bear market. The Nasdaq Compositen COMPn + 0.27%n bumaba ng 4.68%. What‘s more, investors are fretting over the news that crypto lending platform Celsius paused all withdrawals from customers and transfers between accounts, only one month after blockchain Terra’s collapse shook investors confidence on some crypto projects. Still, the majority of the crypto crash “has to do with macro, because crypto markets have been diving down since the latest CPI figure,” which was released on Friday, Gritt Trakulhoon, investment analyst at Titan, said in