bitcoin fell below the $100,000 level on Tuesday on at least a few major exchanges (Coinbase, Gemini, and Kraken, to name three), its weakest price since late June in a broader crypto market correction. However, the move below that price was met with at least some buying, and BTC recovered to $101,300 within minutes.
The largest cryptocurrency has now fallen more than 20% from its all-time high of over $126,000, reached just a month ago. It also hit a new low below the cryptocurrency flash crash on October 10, which ranked as possibly the largest liquidation event in cryptocurrency history, taking BTC to $103,000 from over $120,000 in less than a day.
In the following weeks, recovery attempts failed as bounces above $110,000 were met with rapid sell-offs.
Among the most recent catalysts for the selling was the Federal Reserve’s hawkish surprise last week, when Jerome Powell and a growing number of his minions cooled expectations of another interest rate cut in December.
Read More: Bitcoin Moves Toward $100,000 as Morning Bounce Fails
