Crypto update: Bitcoin, Ether bounce off lows after record-breaking rout

Total liquidations in the crypto market were $566.7 million in the past 24 hours, with Bitcoin and Ether at around $271 million and $192 million respectively

Photo: Bloomberg
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Photo: Bloomberg

David Pan and Joanna Ossinger | Bloomberg
Bitcoin plunged through several closely watched price levels to the lowest since late 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening. 

The largest digital token by market value tumbled as much as 15% to $17,599 on Saturday, marking a record-breaking 12th consecutive daily decline according to Bloomberg data. It’s still only the biggest drop since Monday. The currency recovered some of those losses and was trading at $19,075 as of 8:30 a.m. in Singapore Sunday.

Ether fell as much as 19% to $881, the lowest since January 2021, before

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First Published: Jun 19 2022 | 3:45 PM IST

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