Bitcoin tumbles below $30,000 as negative sentiment spreads in wake of UST de-peg By AdamMorganMc
As of Thursday morning, bitcoin was trading at $27,665 dollars, down from $32,056 just 24 hours previously, according to Coinbase data via TradingView. Thursday’s losses mean that bitcoin is down just over 30% in the past week from $39,486 on May 5.
The contagion from the Terra ecosystem breaking down has spread across the whole crypto market. The price of ether has plunged below $2,000 this week, trading at $1,878 according to Coinbase data via TradingView — down 23% in 24 hours. The crypto market has been in tumult over the past few days as investors digest the ongoing issues with the Terra blockchain.
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