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
"Surging recession fears are crippling appetite for risky assets and that has crypto traders remaining cautious about buying Bitcoin at these lows," said Edward Moya
Top cryptocurrency Bitcoin (BTC) further nosedived to around $21,000 per coin on Tuesday, a level it saw some five years ago
Binance, the largest crypto trading platform, temporarily suspended withdrawals of the Bitcoin network because of an transaction processing issue
Crypto-related stocks have taken a pounding, with shares in broker Coinbase steadying overnight but still down by half in little more than a week.
The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000
TerraUSD, the world's fourth-largest stablecoin, lost a third of its value on Tuesday, spooking cryptocurrency investors and partly contributing to bitcoin's tumble below $30,000 for the first time
Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling.
The slide in the value of digital assets comes as stock markets around the world also dropped in recent days
Bitcoin dropped to a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level
The development occurs as the volatile currency witnesses a free fall from $69,000 in November to nearly $36,000 (on Thursday), owing to regulatory scrutiny and geopolitical unrest.
Bitcoin's decline from its peak has wiped out more than $600 bn in market value, and over $1 trn has been lost from the aggregate crypto market
The largest cryptocurrency declined as much as 4.9% to $41,008, marking a tumble of about 40% from its record near $69,000 reached Nov. 10
Bitcoin is down about 30% since reaching a record of almost $69,000 on Nov. 10.
Bitcoin plunged 5.5% to $53,435.9 at 22:04 GMT on Friday, losing $3,112.06 from its previous close.
Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months
Bitcoin last traded around $59,000, down 1% on the day, and off about 12% from the record high of $69,000 set on Nov. 10, while ether was at $4,163, more than 14% lower than its peak $4,868
Bitcoin dropped 7.3% to $44,127 as of 7:33 a.m. in New York, reaching the lowest level in a week
Crypto tumbles amid broad China crackdown, energy usage concerns
China's biggest banks promised Monday to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban. Regulators appear to worry that despite the 2013 ban on Chinese banks and other institutions handling cryptocurrencies, the state-run financial system might be indirectly exposed to risks. Beijing also worries users might evade efforts to monitor and control the financial system. The four major state-owned commercial banks and payment service Alipay promised to step up monitoring of customers and block use of their accounts to buy or trade crypto-currencies. Customers are asked to be more aware of risks, safeguard bank accounts and not to use virtual currency-related transactions, China Construction Bank Ltd. said on its website. Similar promises were issued by Industrial and Commercial Bank of China Ltd., Bank of China Ltd., Agricultural Bank of China Ltd., Postal Savings Bank of Chi