 "bitcoin, Crytpocurrency")
Bitcoin fell below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.
Bitcoin fell as much as 6% to $19,377.08 at 2:54 pm Hong Kong on Saturday. The largest token by market value has fallen for 12 straight days.
“Surging recession fears are crippling appetite for risky assets and that has crypto traders remaining cautious about buying Bitcoin at these lows,” said Edward Moya, senior market analyst at Oanda, in a note on June 16. “The news flow has been terrible for cryptos.”
The Federal Reserve
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