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Bitcoin sinks below $20,000 as crypto meltdown intensifies
Bitcoin Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch. Bloomberg | Bloomberg | Getty Images Bitcoin dropped below $20,000 on Saturday, extending a brutal slide in cryptocurrencies. The price of bitcoin fell more than 6% in 24 hours to $19,149.60, according to Coin Metrics data. The last time bitcoin fell below the $20,000 level was December 2020. Ether, the second-largest token, plunged 7% to $996.2, its lowest level since January 2021. Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity […]