Bitcoin falls below $19,000 again as pressure mounts on crypto firms
— Crypto industry weighed, Liquidity, Number, Firms, High, Profile crypto companies, Liquidity crisis, Digital currency, Price, Time high — 1 min read
Bitcoin briefly fell below $19,000 on Thursday. The world's largest digital currency remains under pressure from macroeconomic worries and a liquidity crisis. The digital currency is down 58% this year alone and has fallen more than 70% from its all-time high of $68,990.90. The S&P 500 in the U.S. is on track for its worst first half of the year since 1970. Bitcoin has been closely correlated to the movement of equity indexes and in particular the Nasdaq, which has been under pressure since the start of the new financial year with global stock markets under pressure in June. The market is expected to be in a bear market for the first time since 1970. Inflation, rising interest rates and recession Source