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ETH.CM=-48.06 (-4.16%)
BTC.CM=-219.89 (-1.09%)
Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market.
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Bitcoin fell below $20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency companies continue to weigh on the market.
The world’s largest cryptocurrency was trading down more than 4% at around $20,056.48 at 07:36 a.m. ET, according to CoinDesk data. Earlier on Wednesday, bitcoin fell as low as $19,841.
Other digital coins including ether were also sharply lower.
Bitcoin has been trading within a tight range in the last two weeks unable to make a major move much above $22,000.
“A narrative that could well play out for the rest of the year and beyond is guiding bitcoin lower today, one of looming recession and mushrooming levels of...
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