{"id":469176,"date":"2022-06-30T16:49:02","date_gmt":"2022-06-30T13:49:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dips-below-19k-as-crypto-fund-three-arrows-implodes\/"},"modified":"2022-06-30T16:49:02","modified_gmt":"2022-06-30T13:49:02","slug":"bitcoin-dips-below-19k-as-crypto-fund-three-arrows-implodes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-19k-as-crypto-fund-three-arrows-implodes\/","title":{"rendered":"#Bitcoin dips below $19K as crypto fund Three Arrows implodes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2961b1a5489\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2961b1a5489\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-19k-as-crypto-fund-three-arrows-implodes\/#%E2%80%9CBitcoin_dips_below_19K_as_crypto_fund_Three_Arrows_implodes%E2%80%9D\" >&#8220;Bitcoin dips below $19K as crypto fund Three Arrows implodes&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_dips_below_19K_as_crypto_fund_Three_Arrows_implodes%E2%80%9D\"><\/span>&#8220;Bitcoin dips below $19K as crypto fund Three Arrows implodes&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-dips-19k-feat-image.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bitcoin briefly sank below $19,000 on Thursday, hitting a fresh low for the year as investors digested the collapse of cryptocurrency hedge fund Three Arrows and the rising risk of an economic recession.<\/p>\n<p>The leading cryptocurrency was down 4.4% at $19,209.20 as of 9:30 a.m. ET Thursday, according to CoinBase data. Bitcoin\u2019s value has plummeted nearly 60% so far this year and more than 70% off its all-time high of $69,000 last November.<\/p>\n<p>\u201cBitcoin continues to be under pressure as other assets are. The mix of high inflation, rising interest rates and recession weigh on cryptocurrencies,\u201d Yves Longchamp, head of research at SEBA Bank, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/30\/bitcoin-falls-below-19000-again-as-pressure-mounts-on-crypto-firms.html\">told CNBC<\/a> regarding the selloff.<\/p>\n<p>Other top cryptocurrencies are also struggling. Ethereum was down more than 6% to $1,032 and solana sank 6% to $32.<\/p>\n<p>The latest downturn followed a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of negative developments within a cryptocurrency sector already reeling from a months-long selloff. Investors have dumped cryptocurrencies and stocks as the Federal Reserve steadily hikes interest rates to tamp down decades-high inflation.<\/p>\n<p>The rapid plunge in bitcoin\u2019s price has triggered fears of a liquidity crisis among struggling operators.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Three Arrows Capital, a leading cryptocurrency hedge fund that invested heavily in the doomed luna crypto token prior to its implosion, entered liquidation proceedings after facing legal challenges from creditors over unpaid debts, according to multiple reports.<\/p>\n<p>\u201cAfter reports of default, it comes as no surprise that Three Arrows Capital, a cryptocurrency-focused hedge fund has been ordered to liquidate,\u201d Edward Moya, an analyst at broker Oanda, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/hedge-fund-three-arrows-bitcoin-liquidation-51656523739\">said in a note to investors<\/a>. \u201cConcerns are growing that the collapse of Three Arrows Capital could trigger further market contagion.\u201d<\/p>\n<p>In a separate development, CoinFlex, which became the latest cryptocurrency exchange to pause withdrawals last week due to what it described as \u201cextreme market conditions,\u201d revealed it was not planning to resume transactions on Thursday as originally planned, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/29\/coinflex-ceo-unlikely-to-resume-withdrawals-thursday.html\">CNBC reported<\/a>.<\/p>\n<p>Crypto investors were also reacting to the latest guidance from Fed Chair Jerome Powell, who acknowledged during a panel discussion Wednesday that the central bank was prepared to tolerate a higher risk of recession in order to bring down inflation.<\/p>\n<p>\u201cIs there a risk we would go too far? Certainly there\u2019s a risk,\u201d Powell said. \u201cThe bigger mistake to make \u2014 let\u2019s put it that way \u2014 would be to fail to restore price stability.\u201d<\/p>\n<p>Cryptocurrencies have been heavily correlated with stocks in recent months. Major indices were pointing lower in premarket trading Thursday, with Dow Jones Industrial Average futures indicating a loss of more than 300 points.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/30\/bitcoin-dips-below-19k-as-crypto-fund-three-arrows-implodes\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin dips below $19K as crypto fund Three Arrows implodes&#8221; Bitcoin briefly sank below $19,000 on Thursday, hitting a fresh low for the year as investors digested the collapse of cryptocurrency hedge fund Three Arrows and the rising risk of an economic recession. The leading cryptocurrency was down 4.4% at $19,209.20 as of 9:30 a.m&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":469177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-dips-19k-feat-image.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,130853,76127,5069,91261,72388],"class_list":["post-469176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-30-22","tag-cryptocurrency","tag-economy","tag-recession","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=469176"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/469177"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=469176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=469176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=469176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}