Bitcoin tumbles below $30,000 as negative sentiment spreads in wake of UST de-peg

As of Thursday morning, bitcoin was trading at $27,665 dollars, down from $32,056 just 24 hours previously, according to Coinbase data via TradingView. Thursday’s losses mean that bitcoin is down just over 30% in the past week from $39,486 on May 5.

The contagion from the Terra ecosystem breaking down has spread across the whole crypto market. The price of ether has plunged below $2,000 this week, trading at $1,878 according to Coinbase data via TradingView — down 23% in 24 hours. The crypto market has been in tumult over the past few days as investors digest the ongoing issues with the Terra blockchain.

AdamMorganMc It seems that at the end of the world, people are waiting for what will collapse next. I don't think this will happen with crypto.

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