Bitcoin Slides, Shiba Launches Layer-2
Aug 17, 2023
Market Update $BTC has broken sharply to the downside, exiting its tightly restricted multi-week range. The leading cryptocurrency has dropped as low as $27,700 as of writing, marking consistently lower near-term troughs. The slide began earlier in the week and mirrored the risk-averse sentiment in Equities. Stocks and bonds show little change today, while the total cryptocurrency market has slipped by around 3.3%. The decline coincides with a sharp rise in US Treasury yields, a strong US dollar, and roughly $200 million worth of assets being liquidated within 24 hours after Bitcoin dropped b