BTC

Total liquidations in the crypto market were $435.5 million in the past 24 hours, with Bitcoin and Ether at around $202 million and $144.5 million respectively, ...

The crypto market started the weekend with new lows: Ethereum fell to $986 after Bitcoin dipped as low as $18905.

In prior bear markets, Bitcoin had never fallen below the peak of its prior bull run. After it regained that mark in January of last year, it had never fallen below $1,000 until now. The last time Bitcoin was in the $19,000 range was December 2020.

Bitcoin's price drop Saturday morning also brought down the broader crypto currency market, with Ether tumbling 12.4% to $948, well below its 2017-2018 cycle ...

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Bitcoin has historically experienced periods of asymptotic price run-ups followed by steep crashes, typically played out over several months to two years. As of press time, bitcoin was trading at about $18,319 a coin, a 10.8% decline over the past 24 hours. Bitcoin’s price fell well below $19,783, the all-time high it notched in December 2017. The price drop of bitcoin also marks the breach of a significant price level – namely, bitcoin’s all-time high from the previous crypto cycle. Bitcoin’s price fell well below $19,783, the all-time high it notched in December 2017.

Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects while sowing doubts about the stability of the overall ...

The recent sell-off has led to cutbacks at companies that were in hyper-growth just a few months ago. Companies created elaborate ways to make loans or let people use their Bitcoin as collateral in a sector that is known as decentralized finance, or DeFi. But Bitcoin’s transparency — the ledger is public for anyone to see — has also helped prosecutors track down some criminals and even recover ransom payments. Square, another payments company, bought $50 million of Bitcoin and changed its name to Block, in part to signify its work with blockchain technology. TerraForm Labs, which created TerraUSD, a so-called stablecoin, and Celsius, an experimental crypto bank, both collapsed, wiping out billions in value and sending the broader market into a tailspin. Last summer, El Salvador announced that it would become the first country to classify Bitcoin as legal tender, alongside the U.S. dollar. Some investors saw Bitcoin as a safe place to park cash after central banks flooded the economy with money, creating fears of inflation. The digital currency relies on a decentralized network of computers that log each transaction on a permanent record known as a blockchain. As investors flee to less risky assets, “this creates a cascade effect on top of the contagion effect,” he said. The run-up also pushed Wall Street and Fortune 500 companies to become more open to something they once dismissed. Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects, Terra-Luna and Celsius, while sowing doubts about the stability of the overall cryptocurrency market. Bitcoin has erased some $900 billion of value since its peak in November.

Bitcoin tumbled more than 13% at one point on Saturday, crashing below the closely watched $20000 level to its weakest level in 18 months, as it extended a ...

"There's a tremendous amount of people that will be scarred forever," said Moya, referring to retail buyers. Moya said that "even the loudest crypto cheerleaders from the big rally are now quiet. "I think this is going to slice through $15,000," he said. There also were reports that a cryptocurrency hedge fund had run into trouble. The digital currency sector has been pummeled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts, while crypto companies started laying off employees. Register now for FREE unlimited access to Reuters.com