news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
news4global
No Result
View All Result
Home Bitcoin

3 reasons Bitcoin, Ethereum and Solana just hit their lowest levels this year

June 15, 2022
Reading Time: 4 mins read
0
3 reasons Bitcoin, Ethereum and Solana just hit their lowest levels this year
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Fed Board Prohibits Member Banks from Holding Cryptoassets as … – Blockworks

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Cryptocurrency News: Bitcoin Price Rises Again After Stalling To … – Investor's Business Daily

February 7, 2023

Image source: Getty Images

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Forget “crypto winter,” it’s an all-out cryptocurrency apocalypse in the market right now. Top tokens Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL) hit their lowest levels this year. For Bitcoin and Ethereum, these were lows not seen since late 2020/early 2021. Late last night, Bitcoin, Ethereum, and Solana traded as low as $20,951, $1,095, and $26.06, respectively. 

As of 11:30 a.m. ET, Solana has bounced 10% over the past 24 hours, with Ethereum eking out a small gain of 0.7%. That said, Bitcoin is currently in the red, dropping another 2.6% over the past 24 hours, though still well above yesterday’s lows.

These incredible moves lower among top tokens many view as stores of value appear to be driven by three key factors.

The first is a deteriorating macro environment for risk assets. The Federal Reserve is set to hike interest rates again tomorrow. And following a rather dismal CPI print earlier this week, it’s now widely expected that this hike will be of the 75-basis-point variety (only 50 bps, or 0.5%, was previously priced in).

Secondly, potential systemic fallout from crypto lender Celsius (CRYPTO: CEL) continues to reverberate across the sector. On Sunday, Celsius announced it was freezing withdrawals, signaling that liquidity and solvency may be an issue for this lender, which could have broad impacts on the crypto market. Adding to this intriguing story were rumors that Celsius CEO Alex Mashinsky had been arrested by the FBI.

Finally, Binance, the world’s largest crypto exchange by volume, also announced yesterday that the exchange was freezing some Bitcoin withdrawals. This was blamed on a “stuck transaction” which caused a backlog on the network’s back end. While this problem appears to be resolved, questions are now permeating the sector around just how stable the crypto ecosystem is to price shocks.

So what

There’s a lot of news to take in right now. In many ways, this week has been one of the most eventful for crypto investors in some time. Indeed, while many investors would hope for some semblance of normalcy to take over at some point, it appears negative catalysts continue to find a way to float to the top in 2022.

There’s not much investors can do about the macro environment. Liquidity is going to be pulled from the system from some time, and this will have its effect on the crypto market for sure.

However, it’s the potential systemic risks relating to crypto lenders and exchanges that’s now worrying investors. We all saw what happened when Terra‘s (CRYPTO: LUNA) stablecoin ecosystem imploded. If lower crypto prices mean stablecoins, crypto exchanges, and lending platforms won’t work, that doesn’t make for a bullish long-term case for this sector.

Now what

To be fair, the crypto market hasn’t gone through a true “stress test” via a recession yet. And while we can debate whether we’re already in a recession, or if a recession will even materialize, it’s clear that this environment is perhaps the most unstable the crypto market has seen since its inception. 

Accordingly, 2022 is shaping up to be a volatile year for investors. While I’d like to be able to call a bottom for these top tokens, until there’s some signs of capitulation in the markets, it’s unclear we’re close to the end of the selling. I’m buckling in for what could be a very bumpy ride right now. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Fed Board Prohibits Member Banks from Holding Cryptoassets as … – Blockworks

by admin
February 8, 2023
0

Fed Board Prohibits Member Banks from Holding Cryptoassets as ...  Blockworks

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Cryptocurrency News: Bitcoin Price Rises Again After Stalling To … – Investor's Business Daily

by admin
February 7, 2023
0

Cryptocurrency News: Bitcoin Price Rises Again After Stalling To ...  Investor's Business Daily

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Airswift CEO: Crypto Future Is Decentralization With Regulated Infrastructure – PYMNTS.com

by admin
February 7, 2023
0

Airswift CEO: Crypto Future Is Decentralization With Regulated Infrastructure  PYMNTS.com

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Britcoin digital pound decision to be made by 2025 – Sky News

by admin
February 6, 2023
0

Britcoin digital pound decision to be made by 2025  Sky News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Stablecoin adoption could lead to DeFi growth, says Aave founder – Cointelegraph

by admin
February 6, 2023
0

Stablecoin adoption could lead to DeFi growth, says Aave founder  Cointelegraph

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

The bigger the economy, the bumpier it gets – POLITICO

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Does Bitcoin's current rally mark start of crypto-spring? – wknd.

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Fed Board Prohibits Member Banks from Holding Cryptoassets as … – Blockworks

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications – ABP Live

February 8, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

The bigger the economy, the bumpier it gets – POLITICO

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Does Bitcoin's current rally mark start of crypto-spring? – wknd.

February 8, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global