Cryptocurrency Prices Today May 14: Breather from sell-off; Bitcoin, Ether in green
The cryptocurrency market witnessed a bloodbath on Tuesday amid sinking global markets and diminishing risk appetite of investors. Following a 13 per cent decline, Bitcoin breached the $30,000 mark in the last 24 hours. It is the lowest level of the largest digital token since July 2021. It hit an intraday low of $29,944.80.
According to data from Coinmarketcap, Bitcoin has tumbled about 25 per cent in the last six days. The crypto behemoth has tanked about 60 per cent from its peak scaled in November 2021.
Market experts said rising inflationary worries, aggressive monetary tightening, looming recession fears, war crisis and geopolitical worries are denting sentiments for riskier assets such as cryptos.