Noelle Acheson Bitcoin Singapore city Singapore Ethereum cryptocurrency Noelle Acheson Bitcoin Singapore city Singapore

Bitcoin, Ether bounce off lows after record-breaking rout

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Bitcoin plunged through several closely watched price levels to the lowest since late 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.The largest digital token by market value tumbled as much as 15% to $17,599 on Saturday, marking a record-breaking 12th consecutive daily decline according to Bloomberg data.

It’s still only the biggest drop since Monday. The currency recovered some of those losses and was trading at $19,075 as of 8:30am in Singapore Sunday.Ether fell as much as 19 percent to $881, the lowest since January 2021, before climbing 11 percent to $1,005 on Sunday morning in Singapore.

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