Bears tighten grip on cryptocurrency market after spell of volatility

Prices crashed, exchanges facing liquidity issues

Millions of investors who haven’t seen wide swings in the cryptocurrency market have tasted it during last week’s sharp fall in prices. Worse, now bears are trying to tighten their grip on the market.

Bitcoin price, which had fallen below $28,000 last Thursday, has inched up somewhat to around $30,000. However, the price is expected to be sideways, with a downward bias. 

The fall has been led by a crash in stablecoin prices. A leading stablecoin has been delisted from trading by many exchanges in India.

In early May, investors had deposited more than $14 billion of TerraUSD in Anchor