July 01, 2022 - 01:13 PM 265 views
At 2004 GMT on Thursday, Bitcoin was dropped 6.1 percent to $18,866.77, down $1,226.41 from its previous closing and down 60.9 percent from the year's high of $48,234 on March 28. Bitcoin is the biggest and best-known cryptocurrency.
The price of Ether, the cryptocurrency connected to the Ethereum blockchain, fell by $82.38 on Thursday to settle at $1,016.08.
Since U.S.-based lender Celsius Network announced this month that it will stop accepting withdrawals, both digital assets have struggled. The apparent collapse of cryptocurrency hedge fund Three Arrows Capital, which a person with knowledge of the situation told Reuters had entered liquidation, further shook bitcoin and ether.
The spectacular collapse of so-called stablecoin TerraUSD in May, which resulted in the stablecoin and its linked token losing nearly all of their value, can be blamed for many of the industry's current issues.
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