Bitcoin sunk below $20K for first time since 2020, losing 9.5% in the past 24 hours; ether dropped below $1,000. By GregAhl JPRubin23
) 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 , 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,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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