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Bitcoin drops below $20,000

David Hollerith

·Senior Reporter

Sun, June 19, 2022, 9:32 AM·2 min read

Over the weekend, bitcoin dropped below a key psychological level for buyer support, and so far has not been able to get back above it.

The bitcoin (BTC-USD) price fell below $20,000 on Saturday and is trading at $19,379 on Sunday morning, a loss of 29.36% over the past week. It briefly slipped below $18,000 on Saturday afternoon, but the price so far has rallied 1.18% over the past 24 hours.

Ether (ETH-USD), which is more intertwined with crypto’s DeFi segment that has lately wrecked havoc on the risk management strategies of significant industry players, is trading at $1,039 per coin, a loss of almost 29% in the last week. On Saturday, its price dipped below $900 before bouncing back.

Crypto’s total market capitalization has dropped by almost $300 billion since last Friday’s hot inflation data, from $1.19 trillion to $853 billion as of Sunday morning, according to Coinmarketcap.

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