The crypto market is down today after the fallout from Silvergate Bank’s demise, a U.S. regulator-led lawsuit against KuCoin exchange and hawkish comments from United States Federal Reserve chair Jerome Powell spooked investors.
Bitcoin (BTC) price hit a monthly low on March 9 at $20,207 and after the key $21,600 level was breached, traders are worried that a revisit of the bear market lows could occur.