The crypto market is in shambles once again, with bitcoin, ether, and many altcoins dumping to yearly lows.
The ongoing market crash just doesn’t seem to find a bottom as bitcoin dumped below the coveted $20,000 line to a new multi-year low. The altcoins are deep in the red as well, with ETH slumping below $1,000 for the first time in over a year.It was just over a week ago when BTC stood tall at $30,000 before the US inflation numbers drove it south by around a grand. The weekend and the start of the week weren’t all that positive as the asset fell to $23,000 by Monday.
The situation took another turn for the worse in the next few days, and BTC found itself struggling to remain above $20,000 during most of the week, aside from one brief pump towards $23,000 after the Fed’s announcement of raising the interest rates by 75 basis points. By Friday, BTC had somehow sustained above $20,000, but it almost felt inevitable that it will break below it sooner or later. And, asearlier today, that happened a few hours ago when bitcoin lost that coveted level and dropped below the 2017 ATH as well.Alicia BakeryThis is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day: