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• The cryptocurrency found support at $25,000 and $27,000
Bitcoin slumped 4.8% to $29,827.50, remaining in a choppy trading range as short-term indicators were neutral.
The cryptocurrency found support at $25,000 and $27,000 as its price continued to stabilize from last month's sell-off. The second-largest cryptocurrency, Ether fell 4% to $1,784.43 on Tuesday.
The market moves were triggered following reports of an investigation by the Securities and Exchange Commission (SEC) that the BNB token, issued by Binance, could be categorized as a security. BNB is currently down 6%.
Bitcoin is now down more than 50% from its peak price of $68,990.90 in November 2021. It fell for eight straight weeks and dropped below $30,000 last month after the Terra collapse.
Other cryptocurrencies such as XRP fell 2.58%, Solana fell 8.76%, Cardano was down by 8.69%, and Stellar fell 7.47%.
Dogecoin fell 4.23%, Polkadot was down 7.65%, Avalanche fell 13.60%, and Shiba Inu fell 5.44%.
Source - Coindesk
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