The broader crypto market is bleeding out, with almost every token registering massive losses. In the past 24 hours, the total crypto market capitalization has gone from nearly $2 trillion to $1.15 trillion, fueled by panic selling as investors race to stave off losses. Bitcoin Tumbles to 16-Month Low Battling an uptick in inflation and Terra’s UST implosion, the value of Bitcoin (BTC) has plummeted below $27,000 -- its lowest level since December 2020. Over the last seven sessions, BTC has lost 32.1% of its value, breaking multiple key support levels. While BTC was hovering around the $31,000 mark earlier this week, with investors awaiting the U.S. CPI data.
