The largest token fell as much 2.1% on Friday in Asia, breaking below $20,000 for the first time since January, after it fell more than 8% on Thursday.
In New York, the state regulator sued KuCoin, a popular crypto exchange, and in the process claimed in court that second-largest token Ether is a security. We deeply apologize for the impact of the leveraged liquidation on the market caused by a few users, and in order to further improve the multi-currency liquidity of the— H.E. Justin Sun 孙宇晨 Bitcoin has shed about 11% so far this week, the most since a 23% weekly tumble in November amid the collapse of Sam Bankman-Fried’s FTX platform.
Bitcoin is now hovering just above its 200-day moving average, which analysts see as an area that could stem its fall.
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