Bitcoin price tip-toed around $20,000 in its weeks-long minuet with the psychologically important threshold. At the time of writing, BTC is changing hands at $20,036.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price fell below $20K in its ongoing tango with the psychologically important threshold
The largest cryptocurrency by market capitalization was recently trading just above $20,000, down about 1.7% during the past 24 hours as investors returned to more of the macroeconomic wariness that has shaped their attitudes for most of the past year. After a surprising spike in weekly jobless claims, BTC spent part of the day below this level. For one of the few occasions in the past few months, a poor economic indicator discouraged markets instead of spurring them higher.
Ether was recently changing hands over $1,350, slightly down from the previous day. Other major altcoins were mixed, although tilted slightly more red than green.
By early Friday (UTC), Binance Smart Chain’s native BNB token tumbled about 4% after the blockchain with ties to the world’s largest crypto exchange suffered what it called a “potential exploit” that on-chain evidence suggests could be in the range of $500 million. In a tweet late Thursday, Binance founder Changpeng Zhao wrote that the breach on “a cross-chain bridge, BSC Token Hub,” had “resulted in extra BNB and that the company had “asked all validators to temporarily suspend BSC.”
This reddit post contains a bit more detail.https://t.co/ENjBRvEWjT
Embattled crypto lender Celsius’ CEL token was recently off about 18% after CoinDesk reported earlier that former top executives, including founder Alex Mashinsky, cashed out $17 million before filing for Chapter 11 bankruptcy protection. SUSHI was among the biggest gainers, rising more than 3% at one point a day after the announcement that asset management giant GoldenTree had invested about $5.2 million in Defi protocol SushiSwap’s governance token.