Bitcoin fell below the $100,000 level on Tuesday on at least some major exchanges – Coinbase, Gemini and Kraken, to name three – its lowest price since late June as part of a broader crypto market correction. The move below that price sparked at least some buying, however, with BTC rebounding to $101,300 within minutes.
The largest cryptocurrency is now down more than 20% from its all-time high of over $126,000, reached just a month ago. It also hit a new low below the October 10 crypto flash crash, which ranked as perhaps the largest liquidation event in crypto history, taking BTC to $103,000 from over $120,000 in less than a day.
Over the next few weeks, recovery attempts failed, with rebounds above $110,000 met with rapid selling.
Among the most recent catalysts for the sell-off was the Federal Reserve’s surprise hawkish surprise last week, with Jerome Powell and a growing number of his cohorts dampening expectations of another interest rate cut in December.
Read more: Bitcoin heads towards $100,000 as morning bounce fails
