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Bitcoin drops 14%, falling below $24,000 as $200 billion wiped off - superadmin - 06-13-2022 Bitcoin drops 14%, falling below $24,000 as $200 billion wiped off crypto market over the weekend Bitcoin tumbled below $24,000 late on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets. Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the Federal Reserve expected to hike interest rates this week to control rising prices. Bitcoin tumbled below $24,000 on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets. Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market. The world’s largest cryptocurrency bitcoin dropped below the $24,000 mark, according to CoinDesk data, and traded around $23,575 at 7:45 a.m. on Wall Street. Over the weekend and into Monday morning, more than $200 billion had been wiped off the entire cryptocurrency market. The cryptocurrency market capitalization fell below $1 trillion on Monday for the first time since February 2021, according to data from CoinMarketCap. - More -