It's official: Bitcoin has fallen to its lowest level so far in 2022 📉 Worse still, we may only be halfway through the bear market 😬 S&P 500 futures are down too, meaning there might be further pain when Wall Street opens... 🚨
Things went from bad to worse for Bitcoin over the weekend — with the world's biggest cryptocurrency sliding to lows of $33,393.61.
BTC's weekend plunge means its value is currently 51% lower than the all-time high of $68,789.63 set back on Nov. 10, 2021. Bitcoin's plunge has painful echoes of the carnage seen last July, when its value briefly dipped below $30,000.Traders are contending with a potent mix of concerns right now — including spiraling energy prices, Russia's invasion of Ukraine, soaring inflation and new COVID lockdowns in China that are disrupting global supply chains.
While sell-offs in recent days appear to have been triggered by short-term investors, there are signs that whales are getting in on the action too.
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