Bitcoin slumps below $22k as several top cryptos witness double-digit losses.
The crypto market continues to face the heat, with Bitcoin (BTC) undergoing deeper correction after failing to test the $25k support. At the time of writing, Bitcoin had fallen below the $22k mark, witnessing 6.3% losses in the last 24 hours. Ethereum slipped further by $100 dollars, now trading at $1,741. Ethereum needs to attempt a price rally to test $1,900. Until then, its uptrend remains vulnerable.
The downtrend was also conspicuous in the altcoin market, with Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), and other altcoins registering double-digit losses in a single day. The HUSD de-pegging seems to have acted as a trigger, pulling down the crypto market as the downtrend continued for the 5th consecutive day.