Bitcoin continues to fall, drops below $19,000 as crypto market tumult continues

Bitcoin continued falling today after breaking through the $20,000 mark on Saturday, plunging below $19,000 amid a broader market downturn.

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Bitcoin was trading at $18,426.46 on Coinbase via TradingView at press time.

Ether, the native cryptocurrency of the Ethereum network and the second-largest cryptocurrency by market capitalization, also saw its price continue to trend downward, as ETH was trading at $965.03.

The market developments come amid multiple crises in the crypto space. Celsius, a major crypto lender, halted withdrawals and transfers last week, and has since remained quiet about future steps. 

Crypto hedge fund Three Arrows Capital is facing insolvency after seeing its positions liquidated by multiple counterparties in the market. 

Related:  Ethereum Merge Will Be Good for Coinbase, Says JPMorgan

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Mike Millard has worked as an editor for Bloomberg and Reuters, various newspapers and websites. He lived in Asia for more than two decades and now calls the Greek island of Corfu home. He is the author of three books.

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