Following a gloomy federal inflation report, bitcoin, ethereum and other popular cryptocurrencies saw further decline in their valuations.
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First Mover Asia: Bitcoin at 16-Month Low as UST Collapse Shows Risks of 'Algo' StablecoinsBitcoin recently fell to $27,700 – a 16-month low – before regaining ground. It was part of a mass sell-off of cryptos triggered by the terraUSD stablecoin (UST) failure to hold its 1:1 dollar peg. shauryamalwa and JPRubin23 report
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Crypto market is crashing. Bitcoin falls below $27,000Bitcoin and other cryptocurrencies continue their slump into this week. Fears of more volatility continue as millions are wiped off in a day.
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Bitcoin Addresses with 1 BTC Surpass 830,000 as Number of Retail Investors GrowsBitcoin addresses with 1 BTC surge past 830,000 as retail investors increase in number Crypto
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Bitcoin, Ethereum Technical Analysis: BTC Falls Below $30,000, Is 55% Below Its Record High – Market Updates Bitcoin NewsBitcoin plunged below $30,000 for the first time in eleven months, as bears continued to run rampant in crypto markets.
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Michael Saylor assuages investors after market slumps hurts MSTR, BTCSaylor noted that the value of Bitcoin would have to fall below $3,562 for the firm to run out of BTC to further back the loan.
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First Mover Asia: Crypto Market Decline Underlines Its Unpredictability; Bitcoin Holds at $31KThere’s a lot to unpack about Terra’s UST collapse. Probably least understood was LFG’s opting to lend almost all its reserves to market makers to support the $1 UST peg by specifically making trades marked to $1. TheSamReynolds and JPRubin23 report
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