Bitcoin fell below the $100,000 level on Tuesday on at least a few major exchanges – Coinbase, Gemini and Kraken, to name three – its weakest price since late June in a broader correction in the crypto market. A move below that price was met with at least a little buying, though, with BTC bouncing back to $101,300 within minutes.
Today’s largest cryptocurrency declined more than 20% from the record high of more than $126,000, which was hit just a month ago. It also made a new low below the crypto flash crash on October 10, which ranks as possibly the biggest liquidation events in crypto history, taking BTC to $103,000 from above $120,000 in less than a day.
In the following weeks, recovery attempts erupted as bounces above $110,000 met with brisk selling.
Among the latest catalysts for the sell-off was the Federal Reserve’s surprise surprise last week, with Jerome Powell and a growing number of his cohorts expecting another rate hike in December.
Read more: Bitcoin Careens towards $100k as morning bounce fails
