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Bitcoin fell below the $100,000 level Tuesday on at least some major exchanges — Coinbase, Gemini and Kraken, to name three — its weakest price since late June in a broader crypto market correction. The move below that price was met with at least some buying, however, with BTC bouncing back to $101,300 within minutes.
The largest cryptocurrency has now declined by more than 20% from its record high above $126,000, hit just a month ago. It also made a new low below the October 10 crypto crash, which ranked as possibly the biggest liquidation event in crypto history, taking BTC to $103,000 from above $120,000 in less than a day.
In the following weeks, recovery attempts fizzled out as rebounds above $110,000 met with rapid sales.
Among the most recent catalysts for the sell-off is the Federal Reserve’s hawk surprise last week, with Jerome Powell and a growing number of his cohorts rebuffing expectations for another interest rate cut in December.
Read more: Bitcoin Careens Towards $100K as Morning Bounce Fails
