Crypto market capitalisation down 70% since November as inflation worries drive rout
(Photo: Reuters)
Bitcoin has fallen below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.
Bitcoin was down as much as 6% to $19,148 on Saturday afternoon Asia time, according to live data on CoinDesk. The largest cryptocurrency token by market value has fallen for 12 straight days. Ether breached the $1,000 mark briefly and dropped to $999.86, the lowest since January 2021, before paring losses.
“Surging recession fears are crippling the appetite…
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