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Cryptocurrency price declines below $40000 in worst week since May 2021; details here
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cnbctv18.comCryptocurrency prices continue to decline, it has been the worst week since May 2021. That was the time when China was renewing crackdown and Elon Musk had talked about the environmental harms of Bitcoin.
So that is what led to a sharp decline at that time.Nearly $1.5 billion worth of trading positions have been cut because of margin calls. DeFi tokens like Fantom, AVAX, LUNA, UNI they also declined quite sharply and nearly $34 million worth of transaction volumes were cut into this as well over the weekend itself.Markets are watching out for the US Fed meeting in this week and the fact that there would be tightening of monetary conditions there.
Read more on cnbctv18.comAbout this in other media
Bitcoin bulls may ignore Friday’s $730M options expiry by saving their energy for $40K cointelegraph.com /2 years ago
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Bitcoin analysts fear new BTC price dip as funding rates drop post Fed cointelegraph.com /2 years ago
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