Crypto Market Plunges, Bitcoin Drops Below $70K
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bitcoin and Ether plummeted, with Bitcoin trading near $70,000 and Ether around $2,160, as soaring energy prices and the Federal Reserves decision to keep interest rates steady contributed to a market downturn. Traders suffered significant losses, with nearly $600 million in leveraged crypto futures bets wiped out, and open interest across the industry fell by 5.6%. Fear is rising, with Bitcoins volatility index jumping over 5% and traders piling into protective options. Altcoins also saw sharp moves, with some indices like the CoinDesk twenty dropping by 1%.
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