Bitcoin to Hit a Storm May Slip Below $22K

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Bitcoin continued to tumble over the weekend, triggering a wave of sell-offs. The market cap of Bitcoin has also fallen below $500 billion. BTC has lost nearly 22% in the last two days to $24,784.70

The major sell-off is expected to be triggered by the US inflation report, but one of the many other negative indicators triggered heavy selling over the weekend.

Bitcoin plunged more than 6% to a low of $25,000 when Celsius announced that crypto transactions and withdrawals will be halted.

Inflationary pressures will likely push the US Federal Reserve to boost interest rates earlier than expected this week, placing additional pressure on BTC.