Bitcoin stayed just above $20 000 on Wednesday, with its inability to gain upward traction fueling concern among analysts of further declines. The largest cryptocurrency was little changed, bound in a range between about $20 130 and $20 429. The MVIS CryptoCompare Digital Assets 100 index, which measures 100 of the top tokens, fell 2.1% as of 1:30 p.m. in Singapore.
” Bitcoin has been sinking along with riskier assets in recent months, so a slide on a day of tech-stock declines is par for the course. Crypto markets have also been bludgeoned by the meltdown of the Terra/Luna ecosystem, trouble at hedge fund Three Arrows Capital and frozen withdrawals at places like Celsius, as well as job-cut announcements from the likes of Crypto.com, Coinbase and BlockFi.
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