Bitcoin falls below $19,000, further shaking crypto markets By Reuters

Bitcoin falls below $19,000, further shaking crypto markets

Forex Jul 01, 2022 07:46

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Bitcoin falls below $19,000, further shaking crypto markets

(Reuters) - Bitcoin dropped 6.1% to $18,866.77 at 2004 GMT on Thursday, putting the biggest and best-known cryptocurrency down $1,226.41 from its previous close and down 60.9% from the year's high of $48,234 on March 28.

Several big players in the cryptocurrency markets have had difficulties, and further declines could force other crypto investors to sell holdings to meet margin calls and cover losses.

Ether, the coin linked to the ethereum blockchain network, dropped 7.5% to $1,016.08 on Thursday, losing $82.38 from its previous close.

Both digital assets have struggled since U.S. based lender Celsius Network this month said it would suspend withdrawals. Bitcoin and ether were further rattled by the apparent insolvency of crypto hedge fund Three Arrows Capital, which a person familiar with the matter told Reuters has entered liquidation.

Many of the industry's recent problems can be traced back to the spectacular collapse of so-called stablecoin TerraUSD in May, which saw the stablecoin lose almost all its value, along with its paired token.

Dollar edges higher as traders await U.S. inflation report By Reuters - Aug 10, 2022 1

By John McCrank NEW YORK (Reuters) - The safe-haven dollar edged higher on Tuesday, erasing earlier losses as risk appetite dwindled ahead of key inflation figures that could...

Pound May Fall Below $1.20 in Next Month, SocGen Strategist Says By Bloomberg - Aug 09, 2022

(Bloomberg) -- The pound is likely to fall to the lowest level since the pandemic crash as the Federal Reserve’s rate-hike path continues to outpace that of the Bank of England’s,...

Dollar Edges Lower; Wait for U.S. CPI Release Limits Activity By Investing.com - Aug 09, 2022

By Peter Nurse Investing.com - The U.S. dollar edged lower in early European trade Tuesday, adopting something of a holding pattern ahead of the release of the key U.S. consumer...

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