Bitcoin stabilizes after heavy losses but pessimism reigns in crypto markets
— Losses, Pessimism, Worlds, Withdrawals, Heavy, Bitcoin, Market, Stabilizes, Read, Week, Crypto, Celsius, Cryptocurrency, High, Reigns, Markets — 1 min read
Bitcoin steadied on Tuesday after earlier hitting a new 18-month low. The world's largest cryptocurrency fell 15% on Monday, its sharpest one-day drop since March 2020. Celsius Network's freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. The value of the crypto market under $1 trillion for the first time since January 2021. Since its record high of $69,000 in November, it has slumped nearly 70% of its value this year. No. 2 token ether also recovered somewhat after losing as much as 10% to $1,075, a fresh 15-month high. The market is now panicking about the impact and contagion if Celsius becomes insolvent Source