 Bitcoin drops below $24,000 for first time since 2020 June 13, 2022 - 14:35 AMT PanARMENIAN.Net - Bitcoin tumbled below $24,000 on Monday, June 13, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets, CNBC reports. Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. The world’s largest cryptocurrency bitcoin briefly dropped below the $24,000 mark around 05:00 a.m. ET, according to CoinDesk data, before jumping back above that level shortly after. Over the weekend and into Monday morning, more than $200 billion had been wiped off the entire cryptocurrency market. The cryptocurrency market capitalization fell below $1 trillion on Monday for the first time since February 2021, according to data from CoinMarketCap. Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the U.S. Federal Reserve expected to hike interest rates this week to control rising prices. Last week, U.S. indices sold off heavily, with the tech-heavy Nasdaq dropping sharply. Bitcoin and other cryptocurrencies have tended to correlate with stocks and other risk assets. When these indices fall, crypto drops as well.   Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Latest news Armenian, Saudi Foreign Minister meet in Riyadh  The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi ArabiaPashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”.U.S. doesn’t see Russia as contributing to peace in Caucasus Patel made the remarks when asked about the implications of Russia’s withdrawal of peacekeepers from Karabakh.Up to 1% cashback when shopping on Wildberries with IDBank cards IDBank is launching an exclusive campaign on Wildberries for online shopping enthusiasts. |
